...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 60,274.44 194 8.13%
2 JPMorgan 59,428.00 214 8.02%
3 Barclays 51,688.09 168 6.97%
4 Bank of America Merrill Lynch 42,506.65 151 5.74%
5 HSBC 40,145.65 182 5.42%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 6,160.68 5 15.90%
2 Deutsche Bank 3,400.72 4 8.77%
3 Commerzbank Group 2,532.05 5 6.53%
4 Citi 2,513.95 6 6.49%
5 BNP Paribas 1,742.18 7 4.49%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UBS 998.25 3 13.32%
2 Citi 693.55 2 9.26%
3 Morgan Stanley 572.72 3 7.64%
4 Bank of America Merrill Lynch 509.34 3 6.80%
5 Jefferies LLC 409.89 4 5.47%