Transaction Tax To Boost Cost Of U.K. Debt

The European Union’s financial transaction tax could raise the U.K.’s cost of issuing its government debt by £3.95 billion ($5.98 billion) as investors could demand extra yield as their expense for trading the securities will rise, according to a study commissioned by the City of London Corporation.

  • 03 Apr 2013

The European Union’s financial transaction tax could raise the U.K.’s cost of issuing its government debt by £3.95 billion ($5.98 billion) as investors could demand extra yield as their expense for trading the securities will rise, according to a study commissioned by the City of London Corporation.

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.69
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.77

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 47,881.49 152 10.77%
2 JPMorgan 41,018.47 115 9.23%
3 Wells Fargo Securities 37,061.63 106 8.34%
4 Bank of America Merrill Lynch 33,629.70 107 7.56%
5 Credit Suisse 28,660.69 86 6.45%