Investment banks can handle levloan downturn, says Moody’s

Global investment banks should be able to withstand stress in the leveraged finance market, according to a Moody’s report published on Tuesday, thanks to lower pipeline limits and smaller deal sizes than pre-crisis. This was borne out during the fourth quarter of last year, when few banks were caught offside despite a slump in loan prices.

  • By Owen Sanderson
  • 02 May 2019

“The global investment bank peer group as a whole is resilient to a hypothetical very severe stress of its leveraged lending exposures, with most banks’ stress losses amounting to less than half of firm-wide pretax earnings in the scenarios we tested,” said the rating agency.

It did, however, ...

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Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 5,589.28 27 6.76%
2 Goldman Sachs 5,188.98 27 6.27%
3 Credit Agricole CIB 4,896.05 28 5.92%
4 BNP Paribas 4,889.41 39 5.91%
5 Deutsche Bank 4,671.96 29 5.65%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 2,970.40 18 7.52%
2 Citi 2,783.23 20 7.04%
3 JPMorgan 2,762.43 21 6.99%
4 BNP Paribas 2,674.33 25 6.77%
5 Goldman Sachs 2,523.29 20 6.39%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 16,336.99 132 10.02%
2 Citi 14,877.45 125 9.13%
3 Bank of America Merrill Lynch 12,173.13 103 7.47%
4 Goldman Sachs 12,028.93 93 7.38%
5 Morgan Stanley 9,577.47 74 5.87%