Deutsche Bank top emerging markets underwriter for year to date

• Emerging markets issuance totals $250.46 billion year to date

• Emerging markets issuance totaled $38.54 billion in October

New York, Oct. 29 - Emerging markets turned in another vigorous month for new deals in October as banks brought $38.54 billion of new issuance to the international markets, according to data compiled by Prospect News.

That total comes after September's $41.64 billion, the highest monthly amount since Prospect News began keeping records in mid-2004.

Both are above the figures from the previous year; October 2009 saw $34.30 billion.

Year-to-date emerging markets issuance now totals $250.46 billion, 56% above the $160.44 billion at the same stage in 2009 and 32% more than the $189.53 billion recorded for all of last year.

Among the banks, Deutsche Bank added yet another month to its run at the top of the league table of emerging markets debt underwriters.

Deutsche has been first in the year-to-date rankings every month since February; it placed second in January.

After rising in September to second place, JPMorgan lost out to HSBC, which took the number two position for the year through October. JPMorgan was third, with Barclays holding at fourth and Citigroup at fifth.

For emerging markets deals in dollars offered in the United States, the picture is broadly similar, though July's $27.48 billion was bigger than September's $26.66 billion and October's $22.14 billion

Year-to-date issuance on this basis is now $163.71 billion, 33% above the 2009 level of $122.93 billion. October saw $22.14 billion of deals.

Year to date, all major currencies

2009 Comparables

	Underwriter	Amount	No.	Share	Rank	Amount	No.	Share
1	Deutsche Bank	26.535	107	10.59%	3	17.363	50	10.82%
2	HSBC	23.746	99	9.48%	4	17.252	52	10.75%
3	JPMorgan	22.739	98	9.08%	2	17.858	53	11.13%
4	Barclays	19.318	69	7.71%	5	15.849	38	9.88%
5	Citigroup	18.554	88	7.41%	1	20.119	56	12.54%
6	Credit Suisse	15.543	57	6.21%	7	8.790	23	5.48%
7	Bank of America	12.424	68	4.96%	12	4.012	17	2.50%
8	Goldman Sachs	12.179	40	4.86%	6	9.967	29	6.21%
9	RBS	10.900	57	4.35%	11	4.220	18	2.63%
10	Morgan Stanley	10.421	45	4.16%	8	7.605	24	4.74%
	Total	250.462	385	160.440	187
	Average size:	0.651	0.858
Year to date, U.S. market, dollar-denominated deals
					2009 Comparables
	Underwriter	Amount	No.	Share	Rank	Amount	No.	Share
1	JPMorgan	17.337	72	10.59%	1	15.827	43	12.87%
2	Deutsche Bank	17.154	73	10.48%	5	9.943	32	8.09%
3	Citigroup	14.389	59	8.79%	3	13.957	42	11.35%
4	Barclays	12.790	48	7.81%	4	13.670	31	11.12%
5	HSBC	12.030	48	7.35%	2	15.667	42	12.74%
6	Bank of America	11.593	63	7.08%	11	3.446	13	2.80%
7	Credit Suisse	11.414	44	6.97%	7	7.775	20	6.32%
8	Goldman Sachs	10.344	31	6.32%	6	9.427	25	7.67%
9	RBS	7.829	37	4.78%	13	3.310	12	2.69%
10	Morgan Stanley	7.497	30	4.58%	8	7.006	21	5.70%
	Total	163.705	240	122.930	127
	Average size:	0.682	0.968
October, all major currencies
					2009 Comparables
	Underwriter	Amount	No.	Share	Rank	Amount	No.	Share
1	HSBC	3.989	15	10.35%	4	3.157	10	9.20%
2	Deutsche Bank	3.423	18	8.88%	2	5.997	12	17.48%
3	Goldman Sachs	3.238	7	8.40%	6	1.827	6	5.33%
4	RBS	2.556	15	6.63%	9	1.755	7	5.12%
5	Citigroup	2.529	16	6.56%	1	6.137	11	17.89%
6	JPMorgan	2.164	13	5.62%	3	3.426	13	9.99%
7	Standard Chartered	1.871	12	4.85%	14	0.561	2	1.64%
8	Barclays	1.660	10	4.31%	8	1.757	5	5.12%
9	Morgan Stanley	1.534	4	3.98%	11	1.275	5	3.72%
10	Bank of America	1.161	9	3.01%	7	1.784	6	5.20%
	Total	38.542	62	34.301	36
	Average size:	0.622	0.953
October, U.S. market, dollar-denominated deals
					2009 Comparables
	Underwriter	Amount	No.	Share	Rank	Amount	No.	Share
1	Goldman Sachs	3.044	5	13.75%	7	1.662	5	7.08%
2	Deutsche Bank	2.902	15	13.11%	4	2.253	9	9.60%
3	Citigroup	1.938	11	8.75%	3	2.326	7	9.91%
4	RBS	1.925	11	8.69%	6	1.705	6	7.26%
5	Morgan Stanley	1.534	4	6.93%	10	1.275	5	5.43%
6	JPMorgan	1.351	8	6.10%	1	2.895	9	12.33%
7	Barclays	1.326	8	5.99%	8	1.607	4	6.85%
8	Bank of America	1.161	9	5.24%	5	1.784	6	7.60%
9	HSBC	1.063	4	4.80%	2	2.840	8	12.10%
10	VTB	0.933	3	4.22%
	Total	22.140	34	23.472	27
	Average size:	0.651	0.869
Prospect News Emerging Markets Underwriter Rankings

Criteria

• The tables include all underwritten offerings sold in the international bond markets reported to Prospect News.

• Offerings are included in the time period in which they price (or settle if pricing date not available).

• Amounts are based on the total sales price (face amount multiplied by the offering price). The full amount is credited to the bookrunner (or lead manager if no bookrunners). For multiple bookrunners (or lead managers), the total value is divided equally among all the firms.

• Each tranche is counted as a separate deal.

• Units made up of a bond and a warrant are included; other units are excluded.

• Best efforts and non-underwritten deals are excluded.

• Non-dollar deals are converted to dollars at the rate shown in Federal Reserve's H.10 release on day of pricing.

• Emerging markets are all countries except: United States, Canada, United Kingdom, Germany, France, Italy, Japan, Australia, New Zealand, Netherlands, Ireland, Sweden, Norway, Denmark, Spain, Portugal, Switzerland, Luxembourg, Austria, Belgium, Finland, Iceland and Greece.

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