Liquidity is only skin-deep in emerging market loans

Strong demand for emerging market credits among bulge bracket lenders might give the impression that the sector is back on its feet. But beneath the surface, there is a gaping hole where retail used to be.

  • 26 Oct 2010

Judging by the large upcoming deals in emerging EMEA loans, it would easy to assume that the market had recovered well in the region.

Deal sizes — and borrower names — are certainly impressive. Sberbank is in the market for $2bn, Taqa has mandated a group of six ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 80,818.31 235 11.64%
2 Bank of America Merrill Lynch 65,088.22 185 9.37%
3 Wells Fargo Securities 56,145.09 163 8.08%
4 JPMorgan 53,381.65 156 7.69%
5 Credit Suisse 44,872.46 115 6.46%