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Dhanda: pitching hard |
A few eyebrows were raised when Dealogic’s first quarter league tables for Latin America were released. The top debt underwriter turned out to be Morgan Stanley – a house many banks had all but written off a year ago.
The ranking was mainly thanks to Morgan Stanley’s position as co-lead on the $3 billion liability management transaction for Mexico in March, alongside Goldman Sachs. But Goldman only came third in the league table: Morgan Stanley had seven other deals under its belt – from Brazil, Argentina, Colombia, and even Uruguay.
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