LCDS To Pick Up In Credit Downturn

The fledgling loan credit-default swap market is likely to pick up when the credit environment deteriorates, and more players will be interested in trading LCDS once it does.

  • 06 Oct 2006
Email a colleague
Request a PDF

The fledgling loan credit-default swap market is likely to pick up when the credit environment deteriorates, and more players will be interested in trading LCDS once it does. Mike Rosenberg, managing director at Polygon Investment Partners, said he doesn't doubt a change in the credit cycle will come about. "But we're not there yet," he added.

Growth in LCDS has trailed synthetic asset-backed securities because more players have views on housing than on loans. Chris Ricciardi, president and ceo of Cohen & Co., said growth of synthetic ABS was driven primarily by macro hedge funds betting against the housing market.

  • 06 Oct 2006

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 29,036.25 83 9.38%
2 JPMorgan 26,957.68 80 8.71%
3 Barclays 19,404.68 52 6.27%
4 BNP Paribas 19,264.87 42 6.22%
5 HSBC 19,097.04 63 6.17%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 9,498.80 2 86.56%
2 Swedbank 160.81 1 1.47%
2 Sumitomo Mitsui Financial Group 160.81 1 1.47%
2 SEB 160.81 1 1.47%
2 Nordea 160.81 1 1.47%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 ING 220.22 2 13.96%
1 Bank of America Merrill Lynch 220.22 2 13.96%
1 ABN AMRO Bank 220.22 2 13.96%
4 Barclays 129.04 1 8.18%
5 Morgan Stanley 114.77 1 7.28%