Debt Capital markets: Takeovers mean all change in DCM league table
|Global DCM Bookrunner Ranking – First 9 months 2008|
|Rank||Bookrunner||Deal value ($bn)||% share|
|10||Bank of America||142.2||4.0|
|... And After?|
|1||Bank of America||334.2||9.4|
It will take months if not years before we know with any certainty who the ultimate winners from the financial crisis will be. But having purchased the US businesses of Lehman Brothers it seems that Barclays Capital will be among them.
The immediate impact of the acquisition is that it is now the biggest underwriter of debt. According to Dealogic, it has leapt to the top of the end of plus Lehman’s US bond deals, third-quarter global DCM league table, ahead of JPMorgan.