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Thomson Reuters Investment Banking Scorecard - 20 September 2013


Please click below for this week’s Investment Banking Scorecard. This provides an overview of the week in M&A, capital markets and syndicated loans, with league tables, up-to-date industry and country trends, as well as top transactions for the past week. Full details can be found in the attached report, but headlines follow:



Thomson Reuters Investment Banking Scorecard - 20 September 2013










Materials M&A Falls to 8-Year Low

The $2.0 billion purchase of packaging producer Boise Inc by the Packaging Corp of America brings the level of worldwide deal making in the materials sector to $102.2 billion for year-to-date 2013, a 44% decline compared to last year at this time and the slowest period for the M&A in the materials sector since 2005. Activity in the United States, China and the United Arab Emirates accounts for just over 50% of announced mergers in the sector this year, up from 26% last year at this time. Metals & mining and chemicals targets make up 76% of overall sector activity this year, down from 85% a year ago.

Morgan Stanley tops the list of financial advisors in the materials sector this year, with $14.3 billion from eight deals. JP Morgan, sole advisor to Boise Inc, ranks second followed by Citi.

Corporate Bank Debt Falls 18% from 2012

Investment grade corporate debt issuance from global banks and brokerages total $529.3 billion for year-to-date 2013, a 18% decline from the same time last year and the slowest period for corporate debt issuance in the banking sector since 2009. This week's $2.0 billion offering from Commonwealth Bank of Australia pushed Asia Pacific bank debt issuance to $102.2 billion, down 40% compared to a year ago. Bank offerings in the Americas total $131.8 billion, up 10% compared to 2012 levels. Debt issuance from European banks, which account for 51% of overall issuance this year, has declined 16% compared to a year ago.

JP Morgan, Bank of America Merrill Lynch and Citi control 19.8% of global investment grade debt underwriting in the banking sector, up from a collective 17.7% during year-to-date 2012.

Tech, Media & Telecom Follow-Ons Up 7%

Follow-on common stock offerings in the tech, media & telecom (TMT) sectors total $57.2 billion for year-to-date 2013, a 7% increase compared to last year at this time and the strongest period for follow-on offerings in the sector since 2007. European TMT issuers have raised $23.6 billion so far this year, accounting for 41% of overall issuance and more than double last year's total. TMT issuance in the Americas has declined 33% compared to a year ago, while Asia Pacific has declined 18%.

Telecom services, broadcasting and semiconductors account for one-third of overall follow-on activity in the TMT space so far this year. Goldman Sachs holds the top spot for TMT follow-on underwriting with 11.1% market share this year, up from fourth place last year at this time.

Please click below for this week’s Investment Banking Scorecard:
http://share.thomsonreuters.com/PR/IB/Weekly_Scorecard_091913.pdf

For more information throughout the week follow us on Twitter @Dealintel

Thomson Reuters
www.thomsonreuters.com


Mercredi 9 Octobre 2013
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