...Set For Painless Physical Single-Name Settlement

Dealers were expecting physical settlement of single-name credit-default swaps on Delphi Corp. to be smoother than anticipated on first news of the default.

  • 04 Nov 2005
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Dealers were expecting physical settlement of single-name credit-default swaps on Delphi Corp. to be smoother than anticipated on first news of the default. Last month, when the corporate defaulted, dealers were believed to have tens of thousands of outstanding contracts--more contracts, it seemed, than bonds they could physically deliver. Since Delphi's default Oct. 8, however, dealers have been netting CDS exposures and tearing up contracts. Officials this week said they have only a fraction of the contracts they had a few weeks ago and that they expect to physically settle well under half of them.

The International Swaps and Derivatives Association's hybrid settlement procedure called for cash settlement of index trades and physical settlement of single names (DW, 10/21).

  • 04 Nov 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 241,977.38 927 8.19%
2 JPMorgan 223,817.40 997 7.58%
3 Bank of America Merrill Lynch 216,160.55 723 7.32%
4 Barclays 185,098.93 672 6.27%
5 Goldman Sachs 158,991.47 518 5.38%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 32,522.19 61 6.54%
2 BNP Paribas 32,284.10 130 6.49%
3 UniCredit 26,992.47 123 5.43%
4 SG Corporate & Investment Banking 26,569.73 97 5.34%
5 Credit Agricole CIB 23,807.36 111 4.79%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 10,167.68 46 8.81%
2 JPMorgan 9,894.90 42 8.58%
3 Citi 8,202.25 45 7.11%
4 UBS 6,098.17 23 5.29%
5 Credit Suisse 5,236.02 28 4.54%