* Emerging markets issuance totals $19.09 billion in January
New York, Jan. 31 - Citigroup was the top underwriter of emerging markets bonds in January, according to data compiled by Prospect News.
The firm ranked number one for bonds issued in major currencies and for dollar-denominated deals sold in the United States.
Total volume for the month was $19.09 billion, counting all major currencies, or $11.59 billion in the U.S. market.
With its first place position, Citigroup accounted for about one fifth of the month's issuance.
Contributing to its strong performance was its role as joint bookrunner on Hungary's $1.5 billion sale, the Philippines' $1.5 billion deal, Turkey's $2 billion offering, Poland's €3 billion transaction and Mexico's $1 billion add-on.
January 2005, all major currencies
| Underwriter | Amount | No. | Share
|
| 1 | Citigroup | $4.093 | 8 | 21.44%
|
| 2 | Deutsche Bank | 2.901 | 7 | 15.20%
|
| 3 | JPMorgan | 1.993 | 9 | 10.44%
|
| 4 | Morgan Stanley | 1.946 | 3 | 10.20%
|
| 5 | CSFB | 1.808 | 9 | 9.47%
|
| 6 | BNP Paribas | 1.628 | 2 | 8.53%
|
| 7 | Dresdner KW | 1.437 | 2 | 7.53%
|
| 8 | UBS | 1.430 | 4 | 7.49%
|
| 9 | ABN | 0.517 | 3 | 2.71%
|
| 10 | HSBC | 0.487 | 2 | 2.55%
|
| Total | 19.087 | 32
|
|
|
| Average size: | $0.596
|
|
|
| January 2005, U.S. market, dollar-denominated deals
|
| Underwriter | Amount | No. | Share
|
| 1 | Citigroup | $2.335 | 5 | 20.14%
|
| 2 | Deutsche Bank | 2.068 | 4 | 17.84%
|
| 3 | Morgan Stanley | 1.946 | 3 | 16.79%
|
| 4 | CSFB | 1.709 | 7 | 14.74%
|
| 5 | JPMorgan | 1.706 | 6 | 14.72%
|
| 6 | UBS | 1.355 | 3 | 11.69%
|
| 7 | ING | 0.274 | 2 | 2.37%
|
| 8 | Bear Stearns | 0.100 | 1 | 0.86%
|
| 9 | Barclays | 0.099 | 1 | 0.86%
|
| Total | 11.594 | 20
|
|
|
| Average size: | $0.580
|
|
|
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| Prospect News Emerging Markets Underwriter Rankings
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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, Belgium, Iceland and Greece.
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