Weekly Investment Banking Scorecard by Thomson Reuters

thompson reutersFAST FACTS-

  • Rothschild moves into 10th place for WW M&A, up from 15th last year
  • Materials DCM falls 54% compared to year-to-date 2013
  • HSBC moves into the top 10 for Global ECM with 2.3% share, an increase of 1.4 points
  • Tech and Consumer Products ECM activity more than doubles
  • JP Morgan and Deutsche Bank lead global DCM with declining share
  • Consumer Staples ECM down 69% from 2013


  • Thirty-five M&A deals greater than $5 billion have been announced so far this year, nearly four times the level seen during year-to-date 2013 and the strongest year-to-date period for number of announced  “mega deals” since 2007.  Worldwide deal making in the large-cap space has been broad-based with deals greater than $5 billion in all 12 industry sectors and across 16 countries.  Last year at this time, just the two countries, the United States and Netherlands, had seen deals over $5 billion

•       The $12.2 billion acquisition of Pepco Holdings Inc by Exelon Corp ranks as the largest M&A deal in the energy & power sector since Freeport-McMoRan acquired Plains Exploration & Production for $17.2 billion in December 2012

•       Led by follow-on offerings from France’s PSA Peugeot Citroen and Greece’s Eurobank Ergasias, equity capital markets activity in Europe has increased 43% compared to a year ago.  Global ECM underwriting totals $261.2 billion, up 4% from last year

•       This week’s $3.5 billion corporate debt offering from State Grid Corp of China brings investment grade corporate debt activity from Chinese issuers to $79.4 billion, down 42% from year-to-date 2013

•       Apple’s $11.9 billion bond offering marks the second time the technology company has tapped the US$ bond market over the past 12 months and pushes US investment grade corporate debt in the technology sector to a record $32.6 billion for year-to-date 2013.

•       Goldman Sachs and Deutsche Bank have led both multi-billion dollar  offerings from Apple over the past year and have collected $53.3 million in underwriting fees.  Apple is just the second issuer to enlist  just two bookrunners for an offering over $10 billion since records began.  WorldCom hired JP Morgan and Salomon Smith Barney for an $11.7 billion offering in May 2001.