Finansbank IPO underpins surprise NBG Eu2.8bn capital raise

Credit Suisse, Deutsche Bank, Goldman Sachs and Morgan Stanley are underwriting a Eu1.8bn equity capital raising that National Bank of Greece launched on Tuesday evening. The key to the surprise deal — NBG had been expected to ask for less capital and to wait for easier markets — is the Greek lender’s ownership of Turkey’s Finansbank. NBG said that it plans to sell up to 25% of its subsidiary in an Istanbul IPO for Eu1bn which should help raise the visibility of the value of the stake — some bankers think the asset is worth more than NBG’s entire current market capitalisation of Eu5.7bn. Read EuroWeek on Friday for more on the deal, including details of how the issuer got around a Eu670m authorised cap on new share issuance.

  • 08 Sep 2010
Nick Jacob +44 20 7779 7312

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 329,208.56 1277 8.09%
2 JPMorgan 321,584.64 1392 7.90%
3 Bank of America Merrill Lynch 296,878.25 1014 7.29%
4 Barclays 249,463.73 926 6.13%
5 Goldman Sachs 218,838.41 733 5.38%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 46,136.68 182 7.00%
2 JPMorgan 44,545.29 93 6.76%
3 UniCredit 35,639.50 153 5.41%
4 Credit Agricole CIB 33,211.72 160 5.04%
5 SG Corporate & Investment Banking 32,419.80 126 4.92%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,755.50 61 8.94%
2 Goldman Sachs 13,469.15 66 8.76%
3 Citi 9,716.40 55 6.32%
4 Morgan Stanley 8,471.86 53 5.51%
5 UBS 8,248.12 34 5.36%