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"equity capital" Definitions
  1. capital (such as stock or surplus earnings) that is free of debt

722 Sentences With "equity capital"

How to use equity capital in a sentence? Find typical usage patterns (collocations)/phrases/context for "equity capital" and check conjugation/comparative form for "equity capital". Mastering all the usages of "equity capital" from sentence examples published by news publications.

Limited Equity Capital Market Access The company intends to maintain its current private-company structure, which limits access to the equity capital markets.
Barclays has hired Kristin DeClark from Deutsche Bank as co-head of its U.S. equity capital markets business and head of its tech equity capital markets team.
Fleming mostly recently was the co-head of EMEA equity capital markets at Bank of America, while Barrier led Citi's equity capital markets franchise in France, Switzerland and Benelux.
Davis, the former co-head of Credit Suisse's Americas equity capital markets origination group, will become head of West Coast technology investment banking and vice chairman of equity capital markets, they added.
He was also supposed to be out raising equity capital.
It will begin with $2.9 billion of total equity capital.
YOU COULD RUN THOSE FIVE BUSINESSES WITH NO EQUITY CAPITAL.
You could run those five businesses with no equity capital.
Explaining that while the law requires 7 percent of core equity capital plus around a 1.5 percent buffer for regional banks, he notes that some banks are currently holding around 12.5 percent of equity capital.
The bank has an equity capital of just 300 million euros.
Its equity capital amounted to 60 billion at the end of 2015.
The plan focuses on Venezuela-based capital strategies, including equity capital raises.
In a crunch, these securities can be transformed into pure equity capital.
That's the region's largest ever private equity capital raise, according to Reuters.
During that earlier period, American business earned an average of 11 percent or so on equity capital employed and stocks, in aggregate, sold at valuations far above that equity capital (book value), averaging over 150 cents on the dollar.
But you had to build up equity capital dramatically as you went along.
Slosser will report to Jefferies' global head of equity capital markets Jesse Mark.
Ultimately, Infineon plans to cover 30% of the deal's cost through equity capital.
For CBD companies, growth stage equity capital is getting harder to come by.
Deutsche Bank named Justin Smolkin head of industrials, equity capital markets, IFR reported.
The growing supply of private forms of equity capital is even more remarkable.
Hong Kong's equity capital markets have been battered by a coronavirus-linked slowdown.
That amounted to almost 13 percent of Wachovia's equity capital at the time.
N) and advisory firm One Partners, as head of equity capital markets (ECM).
N) and advisory firm One Partners, as head of equity capital markets (ECM).
For, with long-term taxable bonds yielding 5 percent and long-term tax-exempt bonds 3 percent, a business operation that could utilize equity capital at 10 percent clearly was worth some premium to investors over the equity capital employed.
In the middle market segment specifically, private equity capital is dominating event-driven transactions.
Its own central-bank governor reckons equity capital is taxed up to five times.
The big picture: In aggregate, they've raised more than $150 billion of equity capital.
Earnings have risen more than what companies need for capex, equity capital or dividends.
First, a bank's assets and equity capital must be properly valued at all times.
SINGAPORE (Reuters Breakingviews) - An Australian cartel case bodes ill for equity capital markets bankers.
The deal could however encourage other Russian companies looking to tap equity capital markets.
At least two associates covering equity capital markets are also leaving, the people said.
Jason Cox, Deutsche's Asia Pacific head of equity capital markets, is leaving the bank.
Diehl, previously with Berenberg Bank, will become continental European head of equity capital markets.
Companies are turning their backs on the stockmarket because equity capital is relatively dear.
Inch said a $10 billion equity capital raise could be announced in early 2019.
Medopad expects to raise $120 million in equity capital funding over the coming months.
The M&A boost helped offset weaker results from debt and equity capital markets underwriting.
There is substantial private equity capital available for mining, some estimate about $10 billion globally.
In particular, MTL's Prism FBM results are supported by a high level of equity capital.
TLI's Prism FBM results are supported in particular by a high level of equity capital.
Deutsche Bank ranked 7th worldwide in global equity capital markets according to Thomson Reuters data.
"The IPO pipeline looks strong," said Benoit Lauzé, head of equity capital markets at CIBC.
Here's how we'd do it at Spotify if we needed to raise additional equity capital.
He has advised on transactions in debt and equity capital markets, as well as M&A.
IPOs are one of the few areas that companies are actually asking for new equity capital.
Shareholders representing 67.32 percent of Grammer's equity capital submitted their votes at the meeting, Grammer said.
Go deeper: The 55 private companies that have raised more than $1 billion in equity capital.
Deutsche recently cut most of its Asia-Pacific equity capital markets team amid a wider restructuring.
It would also be the biggest U.S. dollar-denominated private equity capital raising in the region.
The board is requesting information about railroads' debt capital, equity capital and market value in 2016.
The board is requesting information about railroads' debt capital, equity capital, and market value in 85033.
Insufficient profitability was defined as a return on equity capital (ROE) of less than 28500 percent.
More than 90 percent of their assets is backed by debt, with very little equity capital.
Within IBD, equity capital market operations were particularly weak, with revenue falling 24 percent to $2003 billion.
The joint venture will combine equity capital markets specialist STJ with debt capital markets advisor Marlborough Partners.
We believe the company would be well served by raising several billion dollars in additional equity capital.
And with an already stretched balance sheet, any equity capital raising is likely to dilute existing shareholders.
Those provisions alleviate two major impediments to companies seeking to tap existing equity capital markets in China.
So you could have a $2.5 trillion business in the United States and not need equity capital.
Those provisions alleviate two major impediments to companies seeking to tap existing equity capital markets in China.
Unlike others, the French bank includes revenues from equity capital markets transactions, which have generally proven buoyant.
Equity capital markets (ECM) bankers normally prefer the index to be below 20 before proceeding with flotations.
Before retiring from Wall Street in 2013, Erickson was head of global equity capital markets at Barclays.
Citigroup named Douglas Adams and James Fleming as its new co-heads of global equity capital markets.
In other words, there is plenty of scope to replace dear equity capital with cheap debt capital.
This will allow small companies to directly raise debt or equity capital from friends, family, and interested investors.
By the end of last year, its tangible equity capital ratio was still below JPMorgan Chase in 2011.
The appointment of Khalili, currently head of the Canadian equity capital markets business at Goldman, is effective Sept.
Before joining Goldman, Khalili worked for a decade at CIBC's equity capital markets group, focusing on energy companies.
Nykredit has said it needs an estimated 10 billion Danish crowns ($1.49 billion) in additional common equity capital.
His other company, SpaceX, is a fully fledged minotaur, having raised $2.4 billion in equity capital to date.
Last year we sold our company for nearly $30 million, having never raised a round of equity capital.
IPOs and other equity capital market deals make up about half of investment banking fees in Asia Pacific.
U.S. banks, for example, are more constrained by a leverage ratio, which measures equity capital to total assets.
Prospects for internal capital generation are weak and low investor confidence impedes access to the equity capital market.
Therefore, Fitch classifies these notes as 100% equity capital within the agency's assessment of risk-based capital adequacy.
Additionally they must have a viable plan to raise new equity capital in the event of a shortfall.
There's also no compelling reason to attach a tax advantage to debt that doesn't apply to equity capital.
The public markets have treated Mr. Musk well, supplying him with plenty of equity capital over the years.
The Aramco listing promised to diversify the state's risk from petrodollars, while opening up Saudi equity capital markets.
Endeavor will provide the equity capital with backing from energy and resources-focused private equity firm Denham Capital.
Sufficient equity capital protects bondholders, depositors and taxpayers from losses on bank investments that they cannot effectively control.
Tier 1 capital ratio is the ratio of a bank's core equity capital to its total risk-weighted assets.
He spent part of his career in Asia and was co-head of Asian Equity Capital Markets for Goldman.
"I'm not in town and won't return until things become normal," one senior equity capital market (ECM) banker said.
"I'm not in town and won't return until things become normal," one senior equity capital market (ECM) banker said.
Edward Roberts; Eric Dobkin, founder and chairman emeritus of Goldman Sachs Global Equity Capital Markets; and Susquehanna International Group.
A sale would have added about 10 basis points to its core equity capital, ANZ said at the time.
State firms, at home, would be pushed to improve their asset quality and boost their equity capital, Xiao said.
Nordzucker will contribute equity capital totaling 60 million Australian dollars ($42.4 million) for the 70 percent shareholding, Nordzucker said.
The $22017 million raise is made up of $221 million in equity capital and $20163 million in debt financing.
The consortium plans to fund the deal with debt and equity capital with Goldman Sachs as its financial adviser.
Deficits at BAE Systems, G210S and FTSE 21-listed AA exceed 20.7528 percent of the firms' respective equity capital.
This year has been among the weakest in more than a decade for equity capital markets activity in Brazil.
Neil Abromavage, the German bank's equity capital markets origination banker, has exited after roughly 16 years, sources told IFR.
Other major banks saw a strong recovery in debt and equity capital markets underwriting as well as advisory fees.
He has worked at JP Morgan for a quarter of a century, including 19 years in equity capital markets.
Solidly profitable enterprises which face neither enormous risks nor great opportunities are extremely unlikely to need new equity capital.
"We don't think it will be necessary to raise (equity) capital," Wigwe told an analyst call on the deal.
Lucas joined Macquarie from Keefe, Bruyette & Woods, where he headed European equity capital markets for six years focusing on origination.
Debt capital markets activity has bounced back and a pick-up in equity capital markets follows an awful first quarter.
Fees from equity capital market (ECM) deals have reached $22019 million so far, bankers' worst quarterly haul in six years.
This includes $500 million in newly-issued equity capital, as well as the purchase of existing shares from Lazada shareholders.
Paytm can be thought of as the Indian version of Ant Financial; it has raised $8003 billion in equity capital.
The new financing means the company will not need to access equity capital markets in 2016 or 2017, Armstrong said.
Fees from equity capital market (ECM) deals have reached $966 million so far, bankers' worst quarterly haul in six years.
The company will benefit from the injection of new equity capital following the IPO and materially lower indebtedness post recapitalisation.
"EDF is highly in debt and the imbalance between the company's assets and its equity capital is worrying," he said.
Vostochny, Russia's 35th biggest lender by assets, is majority owned by Baring Vostok Capital Partners, a major equity capital fund.
Tesla Chief Executive Elon Musk previously had warned that the company might need "a small equity capital raise" in 2017.
Zurich put an increase of CHF575m for Zuercher Kantonalbank's (ZKB, AAA/Stable/F1+) equity capital in its budget for 2020.
Committed but un-deployed private equity capital rose to a record $1.47 trillion in 2016, according to data firm Preqin.
Mr. Kashkari suggests making the banks hold more equity capital at the outset, rather than relying on the debt component.
But overall, the equity capital activity in the energy sector could slow because of choppiness in oil prices, bankers said.
It refers to the bank's "core capital" which is comprised of equity capital, held in common stocks, and disclosed reserves.
He "cannot meet our standard," a Deutsche Bank employee wrote in an email about the company's equity capital markets group.
Should the firm leave, it will be part of a broader trend in Britain: the shrinking supply of equity capital.
It would double the amount of loss-absorbing equity capital for large U.S. banks to 23.5 percent, thereby hurting profitability.
Urtrust expects to obtain more equity capital in 2018 to replenish its solvency margin and to support its future investment.
Kirsty Mactaggart, Asia Pacific head of equity capital markets and corporate finance at Fidelity International, is leaving the investment firm.
Financial leverage, measured using the ratio of debt to the sum of debt and equity capital, was 32% at end-2015.
"In any ECM (equity capital markets) deal, post bookbuild, you have consistency in messaging and processes within the syndicate," she said.
While DCM procedures were mostly deemed acceptable, the FCA said it would aim to improve the equity capital markets IPO process.
Equities underperformed due to Equity Derivatives, and IBD experienced steep declines in ECM (Equity Capital Markets) and DCM (Debt Capital Markets).
UBS was a powerhouse in Asia equity capital markets business and along with Goldman Sachs dominated the league tables from 2002.
One person with knowledge of the bank's Australia operations said its four-strong equity capital markets (ECM) team was being disbanded.
That was particularly "alarming" given the strong performance of stock markets in general and equity capital market (ECM) activity, Kuznetsov said.
We estimate that some insurers now have investment in single entities that account for more than 50% of their equity capital.
Major U.K. banks' exposure to the euro area amount to around 200 percent of their core equity capital, the BoE said.
Today, Square is worth more than $31 billion, after having raised a total of $778 million in equity capital, per PitchBook.
"There's a real tension here between what government enforcers want … and the need to not diminish [Deutsche's] equity capital," Coffee says.
"I think there is an increasing consensus amongst the equity community that they probably need to raise equity capital," he said.
The bank last raised 97.66 billion rupees of equity capital in 2015 by selling shares in the Indian and American markets.
The watchmaker will ask shareholders to reduce the group's equity capital by cancelling stock that the company has repurchased, it said.
JAB said it will invest equity capital from JAB Consumer Fund, backed by external investors, as well as its own resources.
Equity capital provides the all-important cushion to absorb losses arising from uncollectible loans and bad investments a bank has made.
Walujo's Singapore-based firm is a backer of Indonesian unicorn Go-Jek and manages more than $2 billion in equity capital.
As a public firm, Tesla could always issue more shares to raise equity capital even though it would be more expensive.
That figure includes all the money foreign investors put to work in the U.S. (including equity capital and reinvestment of earnings).
Being public is so miserable that people like the Chang family, who founded retailer Forever 21, refused to raise equity capital.
Most big companies have relatively little need for equity capital, but still have to refinance their borrowings on a regular basis.
Dmitry Gladkov, head of debt capital markets, is made global head of financing, covering equity capital markets as well as DCM.
Total U.K. equity capital raising proceeds increased 1.8 percent to $28 billion this year so far, compared to a weak 2016.
Banks can also effectively fail the stress tests if they cannot make it through the hypothetical turbulence with adequate equity capital.
Financial leverage, as measured by the ratio of debt to the sum of debt and equity capital, was a moderate 19.2%.
Nakano has been named associate director and will serve as a senior originator of equity capital market transactions and equity syndicate.
They do this by ensuring banks hold enough equity capital relative to their loans, weighted according to how risky they are.
"The treasury held its nerve and proved successful," said Luca Domina, Managing Director of UniCredit's equity capital markets team in Italy.
AND THEY HAVE UNBELIEVABLE JOBS -- GLOBAL JOBS, THEY'RE IN INVESTMENT BANKING, M & A, EQUITY CAPITAL MARKETS, PRIVATE BANKING, CREDIT CARD, RETAIL.
The investor downplayed any concerns over bank leverage or how much a company borrows for its assets versus its equity capital.
The company has raised $203 million in equity capital to date and $5 million in equipment financing, according to a spokesperson.
Signs of a turnaround in the economic fortunes of larger developing countries, notably Brazil and Russia, may also benefit equity capital markets.
The bank's former head of Latin America equity capital markets, Facundo Vazquez, left in May to join UBS in a similar role.
The division benefited from a strong performance in advisory and underwriting, particularly in equity capital markets where revenue more than doubled yoy.
The research cited a survey in which 36% of these businesses said access to equity capital was the biggest obstacle to growth.
Catterton was founded in 1989 and has grown to $5.5 billion in equity capital to deploy through leveraged buyouts and growth investments.
So far this year, RBC has hired nine senior level bankers in areas such as technology, asset management and equity capital markets.
One person with knowledge of the bank's Australia operations said its four-strong equity capital markets (ECM) team was also being disbanded.
Wells Fargo currently operates with a 10.7 percent capital ratio, which measures the amount of core equity capital against risk-weighted assets.
"Apax is preparing Azelis for a 2018 float, most likely in Brussels," an equity capital markets banker familiar with the matter said.
Pricing, or the amount of equity capital that will be invested in exchange for $1 of housing credits, is the issue now.
MUS USA provides MUFG's U.S. and international customers access to U.S. capital markets through debt and equity capital raising, and market making.
Based in Boston, Thomas H. Lee has raised more than $20 billion of equity capital from investors since its founding in 1974.
Mr. Burton-Morgan, 32, is the head of the European Equity Capital Markets Syndicate at Bank of America Merrill Lynch in London.
The bank said that in the first half of 2018 it gained market share in cash European equities and equity capital markets.
AIB only fared better than Italy's Monte dei Paschi, with a core equity capital ratio of 4.31 percent under the adverse scenario.
Under this part of the overhaul, banks have to issue debt that can be turned into equity capital when a bank fails.
And bankers said they were revisiting client lists to work out who might need equity capital in the months and years ahead.
The round is a bit unusual in that it consists of $115 million in equity capital and $25 million in debt financing.
Bruno Saraiva has been named co-head of Brazil Investment Banking with Lin and continue to oversee Brazil's Equity Capital Markets division.
PrimaryBid addresses this problem by using technology to democratize the equity capital markets to provide a new asset class to retail investors.
MUS (USA) provides MUFG's U.S. and international customers access to U.S. capital markets through debt and equity capital raising, and market making.
Both IPO and secondary outcomes have been decidedly mixed in recent weeks, calling into question the strength of US equity capital markets.
Mr. Watts, 31, is a vice president in the equity capital markets group of Morgan Stanley, the investment bank in New York.
GE hasn't executed an equity capital raise since 2008, when legendary investor Warren Buffett came to the rescue during the financial crisis.
"Investors have become more cautious about valuations," said Li Hang, head of global equity capital markets and syndicate at investment bank CLSA.
The bank was forced to issue billions of new shares after three rounds of recapitalisation in recent years to boost its equity capital.
Investment Banking net revenue was up 103% relative to last year's second quarter due to strength in equity capital markets (ECM) and advisory.
In his new role, Zampardi will help raise capital while broadening Freeman financial technology practice by raising equity capital for emerging growth companies.
Sam Losada, Fleming's co-head at Bank of America, was appointed sole head of BofA's EMEA equity capital markets, according to a source.
Ken Robins, who ran Citi's Europe, Middle East and Africa equity capital business for five years, will become the chairman of the division.
Auris has raised $513 million in equity capital from leading technology investors, including Mithril Capital Management, Lux Capital, Coatue Management and Highland Capital.
Thought bubble from Axios' Felix Salmon: At worst, Tesla was single-digit weeks away from having to do a dilutive equity capital raise.
What to watch: Slack and Spotify — which also opted for a direct listing — didn't raise any new equity capital when they went public.
Techstyle Fashion Group, which is behind both Fabletics and Savage X Fenty, has raised more than $415 million in equity capital, per PitchBook.
Lime is hiring Ted Tobiason, former managing director in tech equity capital markets at Morgan Stanley, to serve as its chief financial officer.
BP's debt at the end of March was $28.6 billion, which represents 28 percent of the company's equity capital, also known as gearing.
Equity capital markets (ECM) activity plunged 58 percent year-on-year to $1.1 billion, after a dearth of new listings in choppy markets.
Four years of losses have burned up the firm's equity capital and it has agreed to sell its nuclear reactor division to EDF.
You absolutely-- I--can run those businesses and they-- I mean, they can run them a lot better with absolutely no equity capital.
Jefferies says it has cut its leverage, or the ratio of assets to equity capital, from 17 in 2010 to a current 10.
Chris Marschall has been appointed head of equity capital markets for Asia Pacific at the unit of Credit Agricole SA , Reuters IFR reported.
"The market sees the haves and the have-nots," said Robert Santangelo, co-head of Credit Suisse's equity capital markets in the Americas.
At the time, he had just taken over the equity capital markets division and Goldman had never tackled such a huge international project.
"There will be no replacement at this time for global head (of equity capital markets)," the company said in an email on Friday.
Gaurav Maria, an executive director in the bank's equity capital and derivative markets team in Hong Kong, will succeed Gupte in that position.
Platinum Equity Capital Partners IV fund was raised from more than 200 investors from 28 countries, Platinum said in a statement on Monday.
The Co-op says it is in advanced talks with existing investors on a proposal to raise equity capital and recapitalize the bank.
ABB said it would finance the deal — likely its last for some time — with cash and did not need to raise equity capital.
Allied Irish had a core equity capital ratio of 16 percent by the end of March, higher than Bank of Ireland's 12 percent.
"We have no need to tap the equity capital markets, but there's a lot of interest and demand in our story," he said.
BDCs typically fund the loans they make to US private small and mid-sized companies using a combination of debt and equity capital.
According to an announcement last week, local governments will be allowed to use some proceeds from "special bonds" as equity capital in major projects.
The method of financing of these companies also appears to be shifting away from the past use of raising equity capital and bank loans.
The investment banking advisory firm appointed Jim Renwick as a senior managing director to its European equity capital markets advisory business based in London.
FRANKFURT (Reuters) - Investment bank Evercore has hired Sebastian Oechelhaeuser to lead its German equity capital markets advisory business, sources close to the matter said.
Meira said the grain traders could invest equity capital in both the road and the rail projects, although the bidding could attract other investors.
"2017 is set up to be a rebound year," says Anthony Kontoleon, global head of the equity capital markets syndicate team at Credit Suisse.
The government has already supported KDB and KEXIM by injecting KRW2.0trn and KRW2963trn, respectively, of equity capital into the banks in 2015 and 1Q16.
"At JPMorgan, we expect to launch 20-plus IPOs globally in September," said Liz Myers, global head of equity capital markets at the bank.
"We're actually a big proponent of" the process, said Neil Kell, Bank of America's global head of tech, media, and telecom equity capital markets.
The bank's tier 1 capital adequacy ratio, which measures equity capital as a percentage of total risk-weighted assets, was steady at 9.8 percent.
The Dutch financial services company has poached two senior bankers from rival ABN AMRO to bolster its equity capital markets franchise in the Benelux.
The consortium said it plans to fund the transaction with a combination of debt and equity capital with Goldman Sachs as its financial adviser.
Bondholders risk significant loss at the point of non-viability, when common equity capital would be low, resulting in a thin loss-absorption buffer.
SPX swung wildly this week and the volatility has kept many corporates which would have been interested in raising equity capital on the sidelines.
Deutsche closed its Australian equity capital markets business in early July as part of its global program to cut 18,000 jobs across the bank.
The IPO is anticipated to consist of existing shares held by Volkswagen, with no plans to raise additional equity capital for Traton, the carmaker said.
The decline was driven by 19% lower revenues from the Corporate Client Solutions segment, which includes debt and equity capital markets, advisory and financing solutions.
The top 35 U.S. banks alone have added about $63 billion in common equity capital since the start of 2009, according to the Federal Reserve.
This is known as the CET 1 ratio which is a measurement of the bank's core equity capital compared with its total risk-weighted assets.
NEW YORK, Aug 17 (IFR) - Deutsche Bank's equity capital markets origination banker, Neil Abromavage has exited the bank after roughly 16 years, sources told IFR.
The sale will amount to about a tenth of the post-offer equity capital of the company, the sources, who declined to be named, said.
Since 2009, the banks in the group have added $800 billion in common equity capital to their balance sheets to shore up for another downturn.
Belfius, which also provides life and non-life insurance, has offloaded its predecessor's riskier assets while growing its total equity capital to 9.3 billion euros.
"We could reach the A$8 billion to A$10 billion mark," said Richard Sleijpen, UBS head of equity capital markets, of the 2018 pipeline.
Haidilao plans to sell about 8 percent of its enlarged equity capital in the IPO, giving it a potential valuation of up to $12 billion.
Data from Refinitiv for the Gulf Arab region shows the first quarter saw no equity capital market deals, with debt capital markets down by 36.3%.
It said that it would be receiving a settlement payment worth a 9.6% share of Rosneft's equity capital that will be held by a subsidiary.
"The equity capital markets business is a key part of the investment banking franchise globally, with a significant focus in Latin America," the email said.
The nation's 34 largest banks have $1.2 trillion of capital cushion — as measured by their common equity capital — an increase of $750 billion since 2009.
The bank will also reduce its sales and research coverage in European cash equities with a focus on supporting equity capital market transactions, it said.
The Swiss firm was a powerhouse in Asia equity capital markets (ECM) and along with Goldman Sachs Group Inc dominated the league tables from 2002.
The Extra-ordinary General Meeting of the shareholders of the Bank is scheduled to be held on May 06, 2017 the purpose of (1) Raising of Equity capital of the Bank by issuance of equity shares to Government of India on preferential basis and (2) for Raising of Equity Capital through Qualified Institutional Placement, Follow on Public Offer, etc at an appropriate time. 2.
"It would be a good way to shore up its equity capital base which would be otherwise be a concern for lenders and investors," he said.
Laurence Hollingworth takes on the mantel of vice chairman of EMEA ECM (equity capital markets), having previously served as head of industry coverage for corporates EMEA.
BB&T said it expects "minimal effects" to its other equity capital markets services, which include equity syndicate, at-the-market ATM offerings, and share repurchases.
Russian, European and Middle Eastern investors each took about 10 percent of the offering, Boris Kvasov, the head of equity capital markets at VTB Capital, said.
Challenges with market access could add to the risks that the government will need to be the main source of new equity capital to these banks.
That rise was buoyed by a plan announced late on Friday to cut equity capital by 20 percent, or T$34.7 billion, to boost shareholder returns.
That is a mechanism which allows debt accumulated through loans by the federal government to convert into equity capital in Eletrobras, reducing the firm's debt load.
Britain's vote to leave the European Union, uncertainty over the American presidential election and a fall in equity-capital raising may have discouraged would-be acquirers.
He was then global co-head of equity capital markets for nearly three years before crossing back to fixed income as head of global risk syndicate.
Companies raised $22017 billion in equity in 22016, up 19 percent from $656.4 billion last year, Thomson Reuters Equity Capital Markets (ECM) data up to Dec.
Like its peers, Deutsche experienced a strong revival in equity capital markets and debt capital markets underwriting, compared with the very quiet period a year ago.
"If today my bank is not in a position to have adequate core equity capital as per Basel III norms, what will I do?" he added.
The No.2 U.S. bank by assets appointed Samuel Losada and James Fleming co-heads of equity capital markets for Europe, the Middle East and Africa.
The group has a relatively small equity capital markets operation, so its advisory and primary markets business performed relatively well, with revenues up 9.4% to 128m.
In 1985, he created the firm's equity capital markets division, which changed the way I.P.O.s were conducted by focusing on mutual funds rather than individual investors.
Jason Cox, a veteran equity capital markets banker, is joining Deutsche Bank as co-head of Asia Pacific ECM, according to sources familiar with the situation.
Cooney, who has been with Bank of America since 1996, worked most recently a Managing Director in charge of the bank's healthcare equity capital markets business.
Barclays has hired Ken Brown, a former deal maker at Nomura and Lehman Brothers, as chairman of equity capital markets for Europe and the Middle East.
Vazquez will be a managing director and run the LatAm equity capital markets business alongside Lyle Schwartz, who has been at the bank for 17 years.
Law firm Ashurst partner Sarah Dulhunty said the U.S.-China trade war and Brexit were creating major volatility which had hurt sentiment in equity capital markets.
Besides equity capital, the company has raised more than $100 million in debt since its founding, bringing its total funding to nearly $200 million all in.
Asia-Pacific equity capital markets (ECM) activity fell to $136 billion, with follow-on share sales tumbling 25.6 percent, according to the data through Sept 623.
It has also had time to strengthen its capital base through reduced dividend payments and stock buybacks, as well as, in some cases, raising equity capital.
In the equity capital market (ECM) segment, Southeast Asia volume fell 37 percent last year and has declined by 42 percent in the year to Sept.
EVOLVING ACCESS TO CAPITAL Fitch views WPG's access to most forms of debt and equity capital to be at the weaker end of the REIT spectrum.
Overall equity capital raising volumes fell by 26%, even as companies including newly-listed technology stocks sought fresh funds via follow-on offerings and convertible bonds.
For Goldman to achieve a return of 15 percent on its equity capital of $76 billion, it needs to generate an annual net income of $11.4 billion.
Alex Yuen, an executive director in JP Morgan's equity capital markets division, has resigned from the bank, according to people familiar with the situation, Refinitiv IFR reported.
"Some of the quality of IPOs that are coming along, even the ones that have gotten done, have not been great," said one equity capital market banker.
With each quarter's earnings, the banks disclose their return on equity, a number that shows the profitability of the equity capital they have deployed in their businesses.
The investment banking business line will include strategic equity transactions; acquisition and strategic finance; capital and rating advisory; equity capital markets; corporate loan structuring; and bond origination.
As part of the deal, Microsoft is also making a small investment (a non-equity capital contribution, as I understand it) of an undisclosed amount in Kano.
Global equity capital markets' (ECM) proceeds fell to $543 billion in the first three quarters of the year from $563 billion in the same period of 2017.
"The market is oversaturated and IPO investors scared off by poor after-market performance of IPOs," an equity capital markets banker familiar with the Springer IPO said.
Flotations are not the biggest fee earners for equity capital markets bankers, but they drive secondary offerings and are often a bellwether for confidence in the market.
Additionally, my evidence suggests that bank CEOs sell significantly greater amounts of their stock as the bank's equity capital (tangible common-stock-to-total-assets ratio) decreases.
ZURICH (Reuters) - Swiss watchmaker Swatch Group will ask shareholders to reduce the group's equity capital by cancelling stock that the company has repurchased, it said on Thursday.
However (and this is a critical however), equity capital is more expensive than deposits and other forms of bank debt, such as borrowings in the capital markets.
"The recent Suncor offering represented the largest treasury deal ever completed by a Canadian exploration and production company," said Benoit Lauzé, CIBC's head of equity capital markets.
Upbeat news on the economy helped boost equity capital market (ECM) activity by U.S. firms by 63 percent, delivering proceeds of $59 billion in the first quarter.
"It looks like a quiet start to the day and that's not surprising," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York.
Oney said on Friday it was wanted to speed up its development and was currently looking at the possibility of forming "strategic commercial and equity capital partnerships".
For banks, holding minority stakes in another lender is proving to be expensive under new rules that require them to set aside equity capital against such investments.
Weaker activity in equity capital markets and debt capital markets, along with slower IPO and M&A activity, dented investment banking revenue overall, the Coalition data showed.
Kristin DeClark and Taylor Wright, the coheads of Barclays' US equity-capital markets, joined the firm from Deutsche Bank and Morgan Stanley, respectively, according to industry records.
Despite strong initial public offerings, overall equity capital deals fell 12 percent to C$26.9 billion in the first half from a year ago, the data showed.
The bank is the top non-Chinese adviser on equity capital market deals in Asia Pacific by revenue so far this year, according to data provider Dealogic.
"One positive in Thailand is that domestic investor liquidity is extremely healthy," said Ho Cheun Hon, Credit Suisse's Singapore-based head of Southeast Asia equity capital markets.
Ventures that have generated revenue or raised equity capital from sources other than the members of the student team before the current academic year are not eligible.
NEW YORK (IFR) - Goldman Sachs has hired Facundo Vazquez as co-head of equity capital markets in Latin America, according to an internal email seen by IFR.
Industry: Cybersecurity Number of venture rounds: 5 Venture equity capital raised: $59 million Acquirer: Insight Partners Closing Date: May 30, 2019 Amount: $780 millionSources: PitchBook, Recorded Future
The credit standards applied by banks for households and enterprise clients were also unchanged, but banks have increased equity capital requirements for enterprises somewhat, the survey showed.
UniCredit Corporate and Investment Bank appointed Matthias Janssen and Alexander Vart co-heads of equity capital markets, Germany, and Andrea Petruzzello head of corporate finance advisory, Italy.
The principal investment arm of Australian investment bank Macquarie Group named Charles Lucas as a managing director and European head of equity capital markets and corporate broking.
Heung Li, an executive director in UBS's Hong Kong equity capital markets team, has resigned after being placed on leave, people familiar with the situation told IFR.
The S&P 500 swung wildly this week and the volatility has kept many corporates which would have been interested in raising equity capital on the sidelines.
Hong Kong raised $12.43 billion in equity capital in 212.4, Thomson Reuters data shows, the lowest since 212.3 when fundraising dried up during the global financial crisis.
On the equity capital markets side, Morgan Stanley outperformed US peers significantly in the US. Deutsche paled in comparison with revenues down 7% year-on-year to €115m.
"Now, companies are well supported by current earnings and trade at low multiples," said Robert Santangelo, co-head of equity capital markets for the Americas at Credit Suisse.
Bolsiero, a managing director, had been at Nomura since 2014 and had 25 years of equity capital markets experience with previous roles at Needham & Co and Bear Stearns.
Mediobanca also wants to expand its equity capital market franchise beyond its core Italian market as the same time widening its equity sales coverage in the secondary market.
He previously spent more than 20 years at JP Morgan running its equity capital markets and FIG business acting as in-house adviser on the bank's own deals.
A minotaur — the term was coined by Axios editor-in-chief Nick Johnston — is a venture-backed company that has raised more than $1 billion in equity capital.
Transit Wireless raised its own equity capital to cover the costs of deploying the system, and generates revenues as the service provider over the life of the license.
Equity capital markets bankers, those who advise companies on the pricing, timing and investor appetite for their IPOs, say that the market is not shut to new issuers.
Total equity capital markets revenues were up 23% year-on-year at US$287m and debt capital markets were up 4% over the same period to US$519m.
State firms will be pushed to improve their asset quality and boost their equity capital, said Xiao Yaqing, chairman of the State Assets Supervision and Administration Commission (SASAC).
The next steps, which include the amount of equity capital being infused and the quality of the new board, are more critical, said CAPA India CEO Kapil Kaul.
The next steps, which include the amount of equity capital being infused and the selection of the new board, are more critical, said CAPA India CEO Kapil Kaul.
"The selloff last week was an over reaction and the attempted rally was too fast and furious," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets.
While it wouldn't be included in the committed equity capital total, SoftBank is also rumored to be raising a $243 billion credit facility to help finance additional acquisitions.
The business has since brought in a further $600 million in institutional equity capital, said Hughes, including their most recent Series E round of $325 million in 2015.
And Taylor Wright, a 25-year veteran of Morgan Stanley, where he worked on equity raises for financial-institution clients, joined the bank to cohead equity-capital markets.
Jason Cox, the Asia-Pacific head of equity capital markets was laid off and teams were disbanded in Japan, Australia and most of Asia, sources have previously said.
Although no equity capital is raised by the company in a direct listing, after trading is established the company could do a follow-on offering to raise money.
"Carige represents the first rescue transaction of a bank in Europe executed through a market offer," Paolo Celesia, head of equity capital markets at Credit Suisse Italy said.
The rule will cause an increase "as measured through the cycle" in common equity capital of about $46 billion at the eight largest U.S. banks, Mr. Quarles said.
The cuts to the equity capital markets division started today and affected the entire ECM teams in Japan and Australia, according to people with knowledge of the matter.
Most of the cuts in Europe will be in equity research, flow and structured equity derivatives and equity capital markets underwriting, all of which the firm is exiting.
The lender, which muscled on to Britain's high streets in 2010, also said it would raise equity capital in the medium-term to support its controlled growth plans.
Not because it is attractive as a repository for equity capital, but precisely because it is so unattractive, the low-return business must follow a high retention policy.
"Apple has all this cash, repurchases shares and the money goes out to new entrepreneurial firms that need equity capital to come up with the next great thing."
The changes imply that publication of independent analyst research will help to price shares more "fairly", Nicholas Holmes, an equity capital markets partner at law firm Ashurst, said.
Greg Chamberlain, JPMorgan&aposs head of US TMT equity capital markets, said elements of the direct listing and IPO process will continually evolve, meaning more options for issuers.
The bank's tier 1 capital adequacy ratio, which measures equity capital as a percentage of total risk-weighted assets, was unchanged from a year earlier at 9.8 percent.
They both declined to comment on pricing details due to non-disclosure agreements, but said the acquisition of National Insurance would be funded with equity capital and no debt.
The lender said it was also considering ways to raise equity capital from existing and new capital providers and a potential "liability management exercise" of its outstanding public debt.
Companies raised a total of $186.7 billion in equity, up 3.5 percent from the same period last year, Thomson Reuters Equity Capital Markets (ECM) data to March 13 showed.
The TPP requires that countries do not hurt the interests of other member states when they provide non-commercial assistance, such as loans or equity capital, to their SOEs.
Swedish pension fund firms AMF and Folksam and IKEA-linked IMAS Foundation also contributed to the equity capital raising, which was led by Goldman Sachs and VW, Northvolt said.
In November, the group, led by managing director Jim Rossman, hired Mary Ann Deignan, who was previously the co-head of global equity capital markets at Bank of America.
The lender scrapped its dividend and launched a $5 billion rights issue a year ago in order to bolster its common equity capital level, which stands at 13 percent.
"Volatility is going to be the norm, not the exception over the next several weeks," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York.
South Korean equity capital markets had been expected to see a combined $8.7 billion raised in IPOs this year, eclipsing the all-time high $8.5 billion set in 2010.
"The resulting insights will help us ensure that MTS equity capital markets and listing framework maintains maximum investor appeal in the context of on-going market developments," he said.
The venture, Mitsubishi UFJ Morgan Stanley, was ranked second for Japanese mergers and acquisition advisory in 2016, and third for equity capital market underwriting, according to Thomson Reuters data.
NEW YORK, Dec 1 (IFR) - Jefferies hired FBR head of investment banking Ken Slosser as its head of permanent capital, a new position in its equity capital markets division.
"IPO performance has been very strong, driving further investor interest, " said Michael Millman, JPMorgan's global head of technology banking and co-head of equity capital markets for the Americas.
It is unclear whether the bank would announce a replacement for Suen, IFR reported, adding that Nick Johnson remains head of its equity capital markets business for Asia Pacific.
"Risk remains that not enough fresh equity capital turns up and subordinated bonds get bailed in as part of a nationalisation," said Dierk Brandenburg, senior credit analyst at Fidelity.
But with $8.5 million in new equity capital and total access to over $10 million in funds, the startup now has more money than ever to pursue its model.
UBS confirmed the appointment, which follows news in July that Thorsten Pauli was leaving UBS to head Bank of America's equity capital markets business in Germany, Austria and Switzerland.
British travel-food company SSP, however, rose 23% after launching an emergency issue of shares worth 20% of its equity capital as it laid off staff and cut spending.
The company says it has obtained commitments for $14 billion in new equity capital and $34 billion in new debt financing with "terms far superior" to the bondholders' plan.
In November, some investors agreed to provide US$250m of equity capital to Acosta as part of a restructuring that wiped out about US$3bn of the company's debt.
Shares in the owner of Manchester's Trafford Centre fell to a record low on Monday after it said it was seeking new equity capital by the end of February.
"Sibanye management and board has determined that a US$1 billion equity capital raise, through the rights offer, is optimal given current market conditions," it said in a statement.
Thiam said his plan to focus on equity capital markets and M&A was starting to pay off, and the bank had been a lead IPO bookrunner in 2017.
"Tesla reiterated earnings and positive cash flow guidance, and the company has no plans to raise equity capital," Nomura Instinet analyst Romit Shah said in a note to clients.
Australia's private equity capital levels have hit a record high this year at $30 billion, with double-digit growth in private equity M&A activity, according to researcher Prequin.
"We are already seeing companies that went public last year coming back ... with follow-on offerings," said Goldman Sachs' David Binnion, co-head of equity capital markets, Asia ex-Japan.
Management fees ticked-up on FAUM growth and advisory and transaction fees benefited from record private equity capital deployment in 2Q16, which included a meaningful amount of co-investment capital.
"If 2015 was the year of the big deals, this was the year of the mega deals," said Peter Miller, head of Canadian equity capital markets at BMO Capital Markets.
But demand for the shares allowed Onexim to sell a slightly larger portion of its holding, Dmitry Brodsky, head of Russia & CIS Equity Capital Markets at Renaissance Capital, told Reuters.
The business, which will be branded Citigroup Saudi Arabia, will provide a full range of investment banking services including debt and equity capital markets operations, according to a Citi statement.
Fees from equity capital markets business rose 42 percent to $16.6 billion over the period, which includes a 91 percent increase in fees from initial public offerings to $5.4 billion.
The family rejected the suggestion and in response Caisse declined to serve as the lead investor in a 2015 debt and equity capital raising, sources told Reuters at the time.
A bank can reduce its leverage ratio by financing its assets with a larger portion of equity capital and, correspondingly, less debt in the form of deposits and borrowed funds.
The overall core equity capital ratio, which measures capital to risk-weighted assets, would have risen to 12.9 percent from 12.5 percent in June 1093, roughly triple pre-crisis levels.
The bank's tier 1 capital adequacy ratio, which measures equity capital as a percentage of total risk-weighted assets, increased to 10.37% from 10.17% at the end of March 2019.
Edward Sankey, the co-head of equity capital markets for Europe, the Middle East and Africa at Deutsche Bank, said he expected little activity in new stocks for a while.
Chief Executive Elon Musk earlier this week had repeated a projection that if the deal is consummated, the combined Tesla-SolarCity could require a "small equity capital raise" next year.
Cully Davis, who was a leader of the firm's equity capital markets group in the Americas and helped manage several prominent initial public offerings including Alibaba and Google, also departed.
"Between now and end of July, the pipeline is not huge," Tom Johnson, the co-head of Barclays' equity capital markets business for Europe, the Middle East and Africa, said.
Mr. Holbourn joined U.K. Financial Investments in 2013 as head of capital markets after serving as the head of equity capital markets for Britain at Bank of America Merrill Lynch.
So the facility has to be big enough and have high demand that it's going to generate revenue that you can go out and take on expensive private equity capital.
That is why banks must get some of their funding from equity capital, which consists of retained profits and funds from shareholders, who cannot demand immediate repayment of their money.
His father is a partner of the Jackson Hole Group consulting firm and previously worked as an investment banker in equity capital markets for Smith Barney, PaineWebber and Gleacher & Company.
The boards would consider whether the offer "constitutes an attractive alternative to a stock exchange listing, including whether it ensures a satisfactory scope for raising new equity capital", they added.
Tata Sons is a significant shareholder in major Tata group companies, and about two-thirds of Tata Sons' equity capital is held by philanthropic trusts endowed by the Tata family.
If you look at scale financial services companies, including credit card companies, most of them will take advantage of the debt capital markets in addition to the equity capital markets.
During 2Q0003 the CIB division's RoTE of 9.3%, excluding a gain on business sale, benefitted from improving market shares in debt and equity capital markets, but trading results were weaker.
As for Mayo, before landing at the London Stock Exchange in 2014, he was a consultant at EcoLogic Systems and a director of equity capital markets, Central and Eastern Europe.
"Tesla reiterated earnings and positive cash flow guidance, and the company has no plans to raise equity capital," Nomura Instinet analyst Romit Shah said in a note to clients Thursday.
Deutsche has also lost some senior bankers in Japan, including Masahito Shimada, head of equity capital markets, and Yuhiko Yano, head of TMT coverage, who are to join Credit Suisse.
The plan, which is subject to court approval, will reduce its funded debt by two-thirds and inject $95 million of equity capital through a backstopped rights offering, the company said.
Elsewhere, Metro Bank Plc slumped 8 percent after the company said its plan to raise about 350 million pounds ($455 million) of equity capital to support its growth is well advanced.
In a world of weak trading, equity capital market (ECM) and debt capital market (DCM) activity is commanding a greater share of big banks' revenues and profits with every passing year.
In January the New York Times reported that Kushner Companies was seeking equity capital for 3753 Fifth from Anbang, one of China's biggest insurers, which has ties to Beijing's political elite.
STOCKHOLM, June 12 (Reuters) - Swedish start-up Northvolt said on Wednesday it had completed its equity capital raising aimed at funding its plans to build Europe's biggest lithium-ion battery plant.
Expenses in the period fell 3 percent but core equity capital, a closely watched measure of the bank's spare cash, slid to 10 percent, below a regulatory target of 10.5 percent.
Banks were "interested in de-risking their balance sheets by transferring a portion of their operational losses and so mitigating the impact on equity capital," a Zurich spokesman said by email.
Equity capital market volume surged last month to $57.9 billion, a 58 percent jump from the same period a year ago to account for the best August ever, according to Dealogic.
"The Brexit vote in June, a turbulent election cycle in the U.S. and a slump in equity capital raising globally have shadowed opportunities for companies considering acquisitions in 235.7," Dealogic said.
Big U.S. banks have more than doubled their capital since the financial crisis, adding more than $700 billion in common equity capital from the beginning of 2009, according to the Fed.
"We are as open to a private round as we are to equity capital like an initial public offering (IPO) as we are to looking at the debt market," he said.
Specifically, Phillips said the upcoming report will include recommendations for how to improve access to equity capital, make U.S. markets more competitive, as well as equity and fixed income market structure.
The bank said it is in discussions with potential investors regarding a possible raising of new equity capital, comprising of $100 million equity offering and a $100 million mandatory convertible bond.
Debt capital markets revenues were US$129m, up 87% on the year, but equity capital markets continued their poor year and revenues in the fourth quarter fell 34% to US$23m.
Some have questioned how that decision, while maintaining US and European equity-research teams and the equity-capital-markets operation, would help save the bank, which has struggled in recent years.
Deutsche Bank is a global equity capital markets powerhouse itself, ranked 7th worldwide according to Thomson Reuters data, so it has the necessary expertise itself to prepare for a capital increase.
Another factor weighing on Reckitt's shares was the heightened expectation of it buying the consumer health business being sold by Pfizer, which could potentially dilute shareholders through an equity capital increase.
Still, Edward Sankey, the co-head of equity capital markets for Europe, the Middle East and Africa at Deutsche Bank, said he expected little activity in new stocks for a while.
AND SO HERE IS ANOTHER SITUATION WHERE THEY AGAIN ARE WILLING TO PUT UP A GOOD AMOUNT OF EQUITY CAPITAL, HAVE RAISED THE FINANCING AS WELL TO TRY TO ACQUIRE ATHENA.
The next steps, which include the amount of equity capital being infused and selection of the new board, are more critical, said Kapil Kaul, CEO of aviation consulting firm CAPA India.
Discount's core Tier 1 capital adequacy ratio, which measures equity capital as a percentage of total risk-weighted assets, slipped to 9.7 percent from 9.8 percent at the end of 2016.
The bank's Tier 1 capital adequacy ratio, which measures equity capital as a percentage of total risk-weighted assets, rose to 10.31% at the end of 2019 from 10.24% in 2018.
"There's money available and relative stability in the market, alongside attractive valuations for vendors," Tom Johnson, head of equity capital markets (ECM), Europe, Middle East and Africa (EMEA) at Barclays, said.
Startup: Vungle Headquarters: San Francisco Industry: Mobile advertising Number of venture rounds: 3 Venture equity capital raised: $27.4 million Acquirer: Blackstone Closing Date: September 30, 2019 Amount: $750 millionSources: PitchBook, Vungle
Leumi's Tier 1 ratio, which measures equity capital as a proportion of total risk-weighted assets, rose to 10.4 percent at the end of June from 9.52 percent a year earlier.
Revenues related to European mergers and acquisitions could drop as much as 60 percent, while those related to European equity capital markets may fall as much as 50 percent, it said.
Equity capital markets teams from a number of international banks had been asked earlier on Monday to submit bids and lock in cornerstone investors, a banking source requesting anonymity told Reuters.
Here's a look at the committee members and the newly promoted execs leading JPMorgan's M&A, debt, and equity capital markets businesses, according to a JPMorgan memo viewed by Business Insider.
The division, which advises clients on finance and mergers, has lost senior dealmakers and slipped down the rankings in merger advisory and equity capital markets amid internal questions over its strategic direction.
"We are currently firmly committed towards investing to transform Mercadona (...), therefore more than 63 billion euros are expected to be invested from equity capital between 2018 and 2023," Chairman Juan Roig said.
"I am pretty sure returns in Cash Equities are fairly rubbish but it's very hard to do ECM (equity capital markets business) and some M&A activities without it," he told Reuters.
Elanco said it planned to fund the cash payout to Bayer with a combination of new debt and equity, with the size of the equity capital increase depending on future market developments.
"Companies with IPO plans are now trying to get out of the door fast to avoid missing the opportunity in the event of a market correction," an equity capital markets banker said.
Swiss investment bank's director of equity capital markets unit, Kelvin Teo, left his job to join Bank of Singapore, the private banking arm of OCBC Bank, reported IFR, a Refinitiv News Service.
High returns on equity capital may therefore be linked to a more tenuous status for workers and to a drop in the share of GDP which is paid out as labour income.
Tesla was never, technically, a minotaur: When it went public in 2010, it had raised just $482 million in equity capital, along with a $450 million loan from the Department of Energy.
Wheels Up's Class D equity capital raise included Franklin Templeton, which co-led the round with funds and accounts advised by T. Rowe Price and Fidelity Management & Research, along with other investors.
"The U.S. has very mature investors for the sector, but the Asian investors are quite new to it," said Li Hang, head of Greater China equity capital markets at investment bank CLSA.
"They're all giants in their spaces, they have global appeal and they would be successful in a Hong Kong format," suggests Nick Johnson, JPMorgan's head of equity capital markets for Asia-Pacific.
In investment banking, Goldman Sachs dropped to 22nd position in the Australian equity capital market underwriting business, from No.1 in the same period a year earlier, according to Thomson Reuters data.
VCs may also begin to increase their return on equity capital of late-stage portfolio companies with debt financing, drawing on the private credit divisions of investment banks, PE firms and more.
As a group, banks had a common equity capital ratio of 8.4 percent, the Fed reported last week, exceeding the minimum requirement of 4.5 percent and last year's level of 7.6 percent.
One equity capital markets banker at a major firm, which was not on the direct listing, said their syndicate desk had been instructed to ask investors for feedback following the Spotify listing.
Fitch estimated that TPG's risky assets, which are mainly equities, funds with equity exposure and investment properties, accounted for about 103% of TPG's equity capital on a consolidated basis at end-1H16.
SGL, which has this year sold its struggling graphite electrodes business, said on Tuesday it would increase its equity capital by close to a third with a rights issue to cut debt.
HONG KONG, March 24 (Reuters) - JPMorgan Chase & Co's head of equity capital markets in Asia excluding Japan, David Suen, has left the U.S. bank, IFR reported on Friday, citing an internal memo.
Banks fight fiercely for deals and league table credit in equity capital raising, with fees from the business making up about a quarter of the global investment banking fee pool, on average.
"Now you've had some deals go well, investor interest in Hong Kong IPOs has returned," said David Binnion, Goldman Sachs' head of equity capital markets distribution and risk for Asia excluding Japan.
A further 1.2 billion would be made available if creditors agree to forego interest rates and installments, while the remaining 1.5 billion hinged on the company's ability to boost its equity capital.
The gold dust that is equity capital is also mounting – Lloyds now says it will get close to the top of its estimated range for generating new equity through earnings this year.
"On the macro front, the country is on the right path with the right team handling the economy," said Fabio Nazari, a partner and head of equity capital markets at BTG Pactual.
Greg Chamberlain, JPMorgan&aposs head of US technology, media, and telecoms equity capital markets, said there&aposs not one standout tech sector set to see more or less activity in 2020 IPOs.
Repackaging the loans as asset-backed securities has allowed lenders to transfer the loans off their balance sheets, bypassing government rules stipulating how much they can lend in proportion to their equity capital.
LONDON, Jan 20 (Reuters) - Bank of America Merrill Lynch has named two European co-heads of equity capital markets (ECM) from its own ranks, according to a memo seen by Reuters on Wednesday.
The EBA looked at how banks could withstand a three-year theoretical economic shock which ended with the Italian lender, the world's oldest, having a core equity capital ratio of minus 237 percent.
The banking division, which advises clients on finance and mergers, has lost senior dealmakers and slipped down the rankings in merger advisory and equity capital markets amid internal questions over its strategic direction.
Northvolt said in a statement Germany's Volkswagen Group and investment bank Goldman Sachs led the $1 billion equity capital raise that included automaker BMW Group and Swedish pension fund firms AMF and Folksam.
But combine the bank and the then independent Merrill back in 2007, and they would together have reached the top of the equity capital markets ranking and the fourth spot in M&A.
Money raised from flotations, or initial public offerings (IPOs) in Europe, fell 49 percent to $21 billion in the first three quarters of the year, Thomson Reuters Equity Capital Markets (ECM) data showed.
Thomas said her character was not based on any one banker, but was largely inspired by Myers, JPMorgan's global head of equity capital markets, and a more junior vice president at Goldman Sachs.
Equity capital markets fees saw the steepest decline of 43 percent compared to a year ago to total $2.63 billion, dragged down by a 56 percent drop in fees from initial public offerings.
"After we raised equity capital, the theme we wanted to execute on was using better data and technology [to] provide our target customers [a] much more affordable and transparent product online," said Hughes.
"This market is driven by two things - the hope of policy agenda getting put into place and improving fundamentals," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York.
One part of the overhaul makes it possible to wind down a dying bank without taxpayer backing — banks have to issue debt that can be turned into equity capital when a bank fails.
"If investors are being disciplined on a deal, it often doesn't bode well for the after-market performance," said one London-based equity capital markets banker not involved in the Budweiser APAC deal.
"We got in and out of the long weekend without any major news or controversy on the geopolitical front," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York.
ZURICH, Sept 12 (Reuters) - UBS Group has named Markus Wetter head of its Swiss equity capital markets and corporate solutions (ECMCS) business, effective immediately, a staff memo seen by Reuters on Thursday said.
The bank's tier 1 ratio, which measures equity capital as a proportion of total risk-weighted assets, rose to 11.35 percent at the end of September from 11.15 percent at the end of 2016.
The banking division, which advises clients on finance and mergers, has lost senior dealmakers and slipped down the 2018 rankings in merger advisory and equity capital markets amid internal questions over its strategic direction.
Boutiques are defined as firms earning greater than 2409 percent of their fees from M&A and equity capital markets activity (ECM), with M&A accounting for at least 70 percent of that wallet.
He was initially a director in the global banking and markets team in London before moving to the United Arab Emirates as head of equity capital markets for Middle East and sub-Saharan Africa.
"Over the last seven days, we've started to give back some of the gains we made post the UK referendum," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York.
The firm held the top position in league tables for equity capital markets (ECM) and investment banking fees for M&A in the first six months of 2019, ahead of Macquarie Group Ltd (MQG.
Equity capital could allow a firm to invest in new markets that would take off in 3, 5 or 10 years while remaining cash flow negative but not burdened by additional debt, O'Callaghan said.
The plan, which is subject to court approval, will reduce its funded debt by two-thirds and inject $623 million of equity capital through a backstopped rights offering, the company said in a statement.
The bank's Tier 1 ratio, which measures equity capital as a proportion of total risk-weighted assets, rose to 11.43 percent at the end of December from 11.15 percent at the end of 2016.
The bank's Tier 1 ratio, which measures equity capital as a proportion of total risk-weighted assets, fell to 11.11 percent at the end of March from 11.43 percent at the end of 2017.
Nordzucker said in February it would contribute 60 million Australian dollars ($41.4 million) in equity capital for the stake, and will also give Mackay Sugar a loan of up to 60 million Australian dollars.
Chow, previously the co-head of greater China equity capital markets, has been with Citigroup for four years while Furtado rejoined the bank last year from Goldman Sachs, the bank said in a statement.
David Wah, the global co-head of Credit Suisse's technology, media and telecom group, remains at the bank, as does the head of technology, media, telecom and health care equity capital markets, John Kolz.
As the securities are afforded equity credit for regulatory solvency purposes, Fitch applies its "regulatory override" and therefore classifies these securities as 100% equity capital within the agency's assessment of risk-based capital adequacy.
DE) is focusing its equity capital markets (ECM) business such as initial public offerings (IPOs) on Germany and Europe, scaling back in the United States and retreating from most of Asia, banking sources said.
In the first half of 2019, Deutsche Bank ranked 13th in the league table for global equity capital market deals, down from ninth place in the same period a year ago, Refinitiv data shows.
To shed light on the process of raising equity capital from venture capital firms and provide some exclusive tips and tricks for Extra Crunch subscribers, we sat down with three experts on the subject.
This proposal recognizes that the economic value of equity capital can substitute for costly regulation as a means to discourage banks from taking risks that can lead to their failures or to systemic crises.
"We've had a drop in commodity prices and some lackluster earnings yesterday and that is an overhang in the market," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York.
LONDON (Reuters) - A stock market rally is breathing fresh life into equity capital markets across developing countries, with bankers predicting some long-awaited IPO deals will finally get off the starting blocks in coming months.
BB&T Securities is ending its equity research coverage and curtailing institutional sales and trading activity, eliminating at least 61 jobs as part of an overall restructuring within its equity capital markets and related operations.
The bonds are classified as 50% debt and 50% equity capital for the agency's financial leverage calculations, which follow Fitch-specific guidelines under the agency's methodology for treatment of hybrids in the financial leverage ratio.
Its core Tier 1 capital adequacy ratio, which measures equity capital as a percentage of total risk-weighted assets, rose to 9.5 percent in Basel III terms from 9.4 percent at the end of 2014.
The 19 July capital plan frontloads a significant part of the INR250bn (USD3.7bn) in fresh equity capital that had been budgeted by the government for public sector banks this fiscal year (ending 31 March 2017).
To receive proceeds of $300 million of common equity capital from private placement * Amtrust financial services inc - intends to direct proceeds from private placement to company's insurance subsidiaries Source text for Eikon: Further company coverage:
Nomura said in a statement late on Monday it had hired 15 senior bankers in the United States over the past 12 months in areas including mergers and acquisitions, leveraged finance, and equity capital markets.
"I cannot imagine any other deal in which banks would let something like this happen," said Christopher Austin, an equity capital markets lawyer at Orrick Herrington & Sutcliffe LLP, who is not involved in Snap's IPO.
"The standout negative today is capital – with 170 bps of CET1 capital ratio erosion in 1Q (more than we had expected) ... the timing of an equity capital raise has to be getting closer," Cronin added.
If higher capital requirements are not offset by less costly regulation and/or lower taxes on equity capital, then shadow banking will grow again, after having shrunk in the aftermath of the last financial crisis.
"You'll see a pretty busy calendar," said Subhrajit Roy, head of equity capital markets origination at local firm Kotak Investment Banking, adding that there had been no apparent loss of appetite from foreign institutional investors.
The fundraising has turned Vietnam into Southeast Asia's biggest equity capital market this year for the first time, as investors are drawn by a fast-growing economy and the government's privatization and market-reform plans.
Its core Tier 1 capital adequacy ratio, which measures equity capital as a percentage of total risk-weighted assets, slipped to 9.4 percent in Basel III terms from 9.5 percent at the end of 2015.
In the equity capital markets (ECM) business, which includes initial public offerings, the Swiss bank was ranked ninth in the bookrunners' league table last year, up from 15th in the previous year, the data showed.
The warrants would give creditors the right to purchase a number of shares equivalent to 5 percent of the firm's total equity capital after a planned capital injection, according to a term sheet dated Dec.
Barclays has reportedly hired Taylor Wright from Morgan Stanley as its co-head of U.S. equity capital markets, and Akhil Ahuja from Wells Fargo as the head of its enterprise and communications technology investment banking.
"The quality of deal execution" is being questioned by companies and venture capitalists, David Hermer, the head of equity capital markets at Credit Suisse, told the FT. But I.P.O. candidates may prefer to play safe.
The bonds are classified as 13% debt and 50% equity capital for the agency's financial leverage calculations, which follow Fitch-specific guidelines under the agency's methodology for treatment of hybrids in the financial leverage ratio.
The bank's Tier 1 capital adequacy ratio, which measures equity capital as a percentage of total risk-weighted assets, rose to 10.41% in the first nine months of the year from 10.02% a year earlier.
In 2011, Deutsche Bank's tangible equity capital (common equity minus goodwill) was equivalent to 3.3 percent of its assets (counted in the same fashion as in the United States), whereas JPMorgan's was at 5.7 percent.
Industry: Project management software Number of venture rounds: 4 Venture equity capital raised: $36.6 million Pre-acquisition debt raised: $10 million Acquirer: Vista Equity Partners Closing Date: November 29, 2018 Amount: $800 millionSources: PitchBook, Wrike
Power sharing will also apply to equity capital markets with Achintya Mangla and Mike Millman becoming global co-heads of ECM while Kevin Foley will run global debt capital markets (DCM) alone, the source said.
Old role: Head of financial institutions ECMNew role: Cohead of US ECMMonth: MayBarclays poached a pair of high-profile bankers to run equity capital markets in the US this year: Kristin DeClark and Taylor Wright.
Prior to joining Triarc, Garden was a managing director of Credit Suisse First Boston, where he served as a senior investment banker, and BT Alex Brown, where he was co-head of Equity Capital Markets.
LONDON, Dec 248.4 (Reuters) - Giant listings by Saudi Aramco and Alibaba rescued a sluggish year for equity capital markets (ECM) in 22020 after a string of shelved initial public offerings (IPOs) and share price slumps.
"A lot of companies that went public last year didn't raise as much money as they wanted to," said Bruce Wu, co-head of equity capital markets for greater China at Citigroup, speaking about industry trends.
Reuters interviews with 13 small and mid-size Australian equity capital markets participants show how the unease created by the case has spread far below the well-heeled banks being charged to more modest stockbroking firms.
IF YOU TAKE M&A FEES, DEBT CAPITAL MARKET FEES, EQUITY CAPITAL MARKET FEES, WE ACTUALLY GREW '73 VERSUS '15 AND WE ARE RANKED FIFTH IN THE U.S. WE LIKE OUR POSITION IN THE UNITED STATES.
That has ranged from helping put in place power purchase agreements and cheap finance for the world's biggest solar plant in Egypt, to providing equity capital for small businesses working on off-grid energy in Kenya.
The Co-operative Bank, which has four million customers, said it was also considering ways to raise equity capital from existing and new capital providers, and a potential "liability management exercise" of its outstanding public debt.
Money raised from flotations, or initial public offerings (IPOs), fell more than a third to $20143 billion in the first three quarters, the slowest such period since 2009, Thomson Reuters Equity Capital Markets (ECM) data showed.
Money raised from flotations, or initial public offerings (IPOs), fell more than a third to $79.2 billion in the first three quarters, the slowest such period since 2009, Thomson Reuters Equity Capital Markets (ECM) data showed.
STOCKHOLM (Reuters) - Automakers Volkswagen and BMW are among the investors in Europe's biggest lithium-ion battery plant, Sweden's Northvolt said on Wednesday after it raised $9003 billion in equity capital to complete funding for the facility.
European equity capital markets activity is also down 36 percent to total $133 billion, lagging a worldwide drop of 26 percent, while debt capital markets activity is broadly flat in Europe but up 15 percent worldwide.
A potential deal by Stranzl would be financed partly through private-equity capital sourced by Vadim Perelman, the founder of Baker Street Capital Management, and with debt financing, people familiar with the matter told the newspaper.
A €5.3bn takeover bid by private equity groups Bain and Cinven did not win enough shareholder support after just 65.52% of Stada's equity capital signed up for the deal, falling short of the 67.5% acceptance threshold.
Any bank with over $85033 billion in assets would be required to boost its common equity capital to 23.5 percent of its risk-weighted assets, and would have to hold a leverage ratio of 15 percent.
Others pointed out that a bridge-to-equity financing was the best solution to carry out the delisting exercise, although it was still fraught with tremendous market risk given the vagaries of the equity capital markets.
"The level of initial demand seen was always humongous right from the road show stage," said Subhrajit Roy, head of equity capital market (ECM) origination at Kotak Investment Banking, one of the country's top IPO advisers.
Mr. Kashkari asserts that, to reduce the risk of such contagion, it may make sense to not rely on the debt component and instead just have banks hold a lot more equity capital at the outset.
"Investors have been generally taking a risk-off approach and we're seeing limited conviction that oil prices are going to be high in the near term," said Kirby Gavelin, head of equity capital markets at RBC.
Over its roughly 25 years in business, the company had attracted $3.7 billion in private equity capital to Russia for companies like Yandex, a search engine that competes locally with Google, and Ozon, an online retailer.
Startup: Acquia Headquarters: Boston Industry: Content management software and hosting service Number of venture rounds: 10 Venture equity capital raised: $194 million Acquirer: Vista Equity Partners Closing Date: November 1, 2019 Amount: $1 billionSources: PitchBook, Acquia
The bank also named Juan Monte and Jasper Tans co-heads of EMEA country coverage and origination ex UK. Javier Martinez-Piqueras has been appointed sole head of equity capital markets client solutions business in EMEA.
The increase of Zuercher Kantonalbank's (ZKB; AAA/Stable/F1+) equity capital by CHF500m in 2015 resulted in higher capex and a corresponding decline in capital revenues eventually resulted in a deficit before debt variation of 3.6%.
Dr. Ned Sharpless, the director of the National Cancer Institute, was named acting director of the F.D.A. Morgan Stanley promoted Lauren Cummings and Ashley MacNeill to lead its technology equity capital markets practice in the Americas.
Follow-on and convertible offerings have dominated Asia's equity capital raising this year, helped by companies' need for financing despite market turmoil and the fact that many recent tech IPOs raised less than they had hoped.
UniCredit plans to raise 13 billion euros ($13 billion) in equity capital to compensate for its bad-loan writedowns as well as other losses in the biggest share sale to ever be launched by an Italian bank.
LONDON, June 15 (IFR) - Deutsche Bank is setting up a global capital markets unit within its corporate and investment bank to house both its equity capital markets and debt capital markets businesses as well its hedging services.
Enbridge Income Fund President Perry Schuldhaus said the system was a non-core asset and that proceeds from the sale would be reinvested in the fund's $9 billion portfolio and help meet its 2017 equity capital requirements.
"We are very excited to welcome Kimly, one of the largest and most recognizable coffee shop operator chain in Singapore," said Mohamed Nasser Ismail, head of Equity Capital Market and head of Capital Market Development at SGX.
"Investing in Hong Kong IPOs has not driven investor returns in the past 6-7 months which has contributed to the general sentiment and valuation sensitivity," said Finlay Wright, Director, Equity Capital Markets at Rothschild Global Advisory.
European banks' total fee revenue from bond issuance, equity capital markets and mergers and acquisitions (M&A) fell from $17 billion to $13 billion between 183 and 2015, while U.S. banks' fees remained unchanged at $23 billion.
In the first six months of the year, companies raised a total of $386.8 billion in equity, down 0.9 percent on the same period of 2017, Thomson Reuters Equity Capital Markets (ECM) data to June 25 showed.
Investors representing 65.52 percent of Stada's equity capital tendered shares in the agreed 5.3 billion euro ($5.9 billion) deal at 66 euros per share, short of the 67.5 percent that the bid was conditional on, Stada said.
As of September 23, Canaccord has netted $122 million in fees from cannabis deals across equity capital markets, M&A, debt capital markets, and loans, amounting to an 18% share of all fees generated from cannabis deals.
The plan, which would double the amount of loss-absorbing equity capital for large U.S. banks and impose a new tax on hedge funds and other asset managers, is sure to face fierce opposition from Wall Street.
UniCredit plans to raise 13 billion euros ($14 billion) in equity capital to compensate for its bad-loan writedowns as well as other losses in the biggest share sale to ever be launched by an Italian bank.
OL * IPO expected to price between NOK 76.00 and 78.50 * Based on orders received, now expected that offering to be priced between NOK 76.00-NOK 78.50 per equity capital certificate Source text for Eikon: Further company coverage:
The Prosus-owned payments giant said on Friday that it will pump $200 million — $65 million of which is being immediately invested — into the new enterprise in the form of equity capital over the next two years.
Asia-Pacific equity capital markets (ECM) volumes were down 26% overall to $21 billion equivalent over the first three quarters versus the same period last year, particularly hurt by a 20.9155% fall in IPOs to $40.88 billion.
JOHANNESBURG, Oct 7 (Reuters) - South African sugar producer Tongaat Hulett said on Monday it is considering the possible sale of assets, a possible equity capital raise or a combination thereof in order to reduce the group's debt.
Indicated unchanged Buyout groups Bain Capital and Cinven have lowered the minimum acceptance threshold for their takeover offer for German drugmaker Stada to 2500 percent of the equity capital and extended the acceptance period until June 20.2.
"As part of this unique, collaborative initiative, we are dedicating a portion of our effort toward attracting the Saudi Aramco IPO," TMX's head of global equity capital markets, Nick Thadaney, said in an emailed statement to Reuters.
"We need to see a stabilisation of consumer sentiment and once that is there, some of the stronger companies in that sector could look to IPO," said Georgy Egorov, emerging markets head of equity capital markets at UBS.
Investment banking fees fell 7 percent worldwide in 2016, dragged down by a 23 percent fall in equity capital market (ECM) fees, Thomson Reuters data showed on Wednesday, raising the pressure on banking giants fighting to restore profitability.
By doing so, it may make the economy more risky at the margin: in a recession, highly-indebted companies are likely to go bust more quickly, whereas companies with lots of equity capital can ride out the storm.
JPMorgan ranked fifth in Asia Pacific, excluding Japan, M&A league table by value of announced deals it advised on in 2018, and sixth in Asia Pacific, excluding Japan, equity capital markets league table, according to Refinitiv data.
Proceeds in the region's equity capital markets (ECM) tumbled to $66.6 billion in the first six months of the year from $20143 billion in the same period in 2015, according to preliminary Thomson Reuters data through June 27.
The bank posted an 11.1 percent increase on the previous quarter in its Basel 3 CET1 ratio, which measures core equity capital total risk-weighted assets and is designed to make an institution more resilient to financial stress.
EVOLVING ACCESS TO CAPITAL Fitch views WPG's access to most forms of debt and equity capital to be at the lower end of the investment-grade REIT spectrum and it has weakened since the time Fitch initiated ratings.
LIQUIDITY Liquidity is not a concern given the lack of unsecured debt maturities over the next few years, although access to attractively priced debt and equity capital is a key rating consideration for REITs given their distribution requirements.
Regulla will take on his new role immediately and complete Bank of America's new Germany set up, which has included hiring equity capital markets Germany head Georg Hansel from Deutsche Bank, who will start his job in July.
Fitch expects HCP's cost of debt and equity capital will remain higher than its peers as a result of weaker metrics, lower ratings and the uncertainty surrounding operating and financial policies until the permanent management team is finalized.
Proceeds in the region's equity capital markets (ECM) tumbled to $66.6 billion in the first six months of the year from $155.3 billion in the same period in 2015, according to preliminary Thomson Reuters data through June 6017883.
LONDON, May 11 (Reuters) - Carpetright, the struggling British floor coverings retailer, said on Friday it has obtained a 15 million pounds ($20.3 million) shareholder loan to provide interim funding before a proposed 60 million pounds equity capital raising.
According to Alessandro Zema and Eduardo Miras, co-heads of Brazil investment banking for Morgan Stanley, M&A deals should accelerate this year, even if increased debt and equity capital markets activity posed some competition for the segment.
One person with knowledge of the bank's operations in Australia said its four-strong equity capital markets team was being let go, but that most of its mergers and acquisitions (M&A) team would not be immediately affected.
"An expected stronger growth in global vehicle production in the second half 2019 should offer suitable conditions for an IPO", Schaefer said, adding that if equity capital market conditions were not attractive then the IPO would be postponed.
The bank also hired Ian Hart as co-chairman of Investment Banking in the United Kingdom and Facundo Vazquez as head of equity capital markets (ECM) solutions in Latin America, according to an internal memo obtained by Reuters.
A healthy deal flow of equity capital markets transactions is growing on expectations the Brazilian economy is heading for recovery, analysts from the nation's top investment banks and brokerages said at a Thomson Reuters event in São Paulo.
Some 566 million euros of the purchase price for Strato due in 2017 will be funded by a 350 million euro loan from United Internet and by equity capital to be provided by United Internet and Warburg Pincus.
Israel's top banks have core Tier 1 capital adequacy ratios, which measure equity capital as a percentage of total risk-weighted assets, at an average of 10.1 percent to satisfy stricter regulatory demands, 28 percent above 2009 levels.
The value of worldwide equity capital markets (ECM) activity has almost halved so far this year compared with the same period in 2015 as geopolitical uncertainty, the prospect of a U.S. rate rise and global growth concerns bite.
Deutsche said on Sunday it will exit its equities sales and trading business globally but retain a "focused equity capital markets operation", as part of what chief executive Christian Sewing has termed a "fundamental transformation" of the bank.
Unsurprisingly, Wunderkind has been super efficient to date, with Urban telling TechCrunch that "the amount of equity [his company has] actually put to work is probably sub-$35 million," with less than $50 million in equity capital raised.
What we see in our holdings, rather, is an assembly of companies that we partly own and that, on a weighted basis, are earning more than 20% on the net tangible equity capital required to run their businesses.
TORONTO (Reuters) - A slew of equity capital markets offerings in the cannabis sector helped smaller Canadian investment banks and boutiques climb up the league table rankings in the first quarter, according to Thomson Reuters data released on Thursday.
Based on the latest available figures for the first half of last year, problematic loans at the two lenders after writedowns totalled 10.2 billion euros at end-June, almost double their combined equity capital of 5.7 billion euros.
"The recent rally in prices clearly makes the valuations more attractive, which influences a company or its shareholders on whether to bring a company to the market," said James Roe, equity capital markets partner at law firm Allen & Overy.
Bayer said in September 2274 when the deal was announced that it would raise $21 billion worth of fresh equity capital, some of which would be covered by 20.8453 billion euros in mandatory convertible notes issued in November 2016.
In January, a Yunnan state-owned investment company that defaulted last month on two trust loans has secured financing to repay those loans and is set to get 2 billion yuan in additional equity capital from the provincial government.
Companies in Germany's blue-chip DAX index would benefit from greater equity capital as much as start-up firms and family-owned businesses, Kengeter said, noting there were four times more IPOs in London last year than in Frankfurt.
Its $140m or so in equity capital comes from several investors, including Bill Gates, Mark Zuckerberg and Pierre Omidyar, who founded eBay, an online-auction giant, as well as from venture-capital funds such as Learn Capital and Novastar.
"So we expect there will be a vibrant market to be able to take these assets that are in need of equity capital right now over and to bring them back to a high-quality operating performance," he said.
In India, total fee earned from investment banking services, including M&A, equity and bonds, fell to $462.6 million in 2016, from $491 million a year ago, according to Thomson Reuters data, as equity capital market volume nearly halved.
Bayer also placed 4 billion euros in mandatory convertible notes in November, part of a plan to raise $19 billion worth of equity capital for the Monsanto deal, which Bayer plans to wrap up by the end of 2017.
BEIJING (Reuters) - A Yunnan state-owned investment company that defaulted last month on two trust loans has secured financing to repay those loans and is set to get 13 billion yuan in additional equity capital from the provincial government.
Earlier this year John Vickers, chairman of the Independent Commission on Banking (ICB), said the BoE was not making banks hold as much equity capital as the ICB recommended in its proposals for reforming the sector five years ago.
Piraeus said the deal, subject to approval by regulators and Greece's HFSF bank rescue fund, which owns 26.2 percent of the lender, would reduce its NPE ratio by 100 basis points and boost equity capital by 20 basis points.
But overall, equity capital markets in Asia have been "very receptive in terms of issuance ... there have been a bunch of very important IPOs, as well as large block deals", Khullar noted, referring to recent equity sales worth billions.
The bank plans to raise 200 billion rupees in equity capital over three years, and is also betting on the sale of non-core assets such as a stake in India's biggest stock exchange to fund growth, Kharat said.
Launching a capital increase before a settlement with U.S. authorities is seen as unlikely as few investors will be willing to buy shares without being able to gauge the impact on the lender's capital, equity capital markets bankers said.
HONG KONG (Reuters) - Asia-Pacific equity capital markets (ECM) activity firmed 7 percent in the first half of 2017, as a sharp increase in IPOs offset a decline in the sale of existing shares, preliminary Thomson Reuters data showed.
After leading the equity capital market (ECM) league table in Asia for several years, UBS fell to fourth place in the first nine months of the year from second in the same period a year earlier, the data showed.
One option would be a secondary listing elsewhere and giving investors new shares in exchange for the U.S. stocks, said an equity capital markets banker, declining to be identified as he was not authorized to speak to the media.
Old role: Head of tech ECMNew role: Cohead of US ECM, global head of tech ECMMonth: MarchBarclays poached a pair of high-profile bankers to run equity capital markets in the US this year: Taylor Wright and Kristin DeClark.
The rating also reflects the company's rapid growth in recent years, the relatively short operating history under the larger organization, challenging operating environment, and somewhat limited access to external equity capital given its status as a privately held company.
"Investors continue to see significant fund flows into the tech sector as they consider it more resilient and less exposed to the economic cycle," said Sam Losada, Head of EMEA Equity Capital Markets at Bank of America Merrill Lynch.
There are reasons for this, too: New regulations require that the banks have more equity capital and that they get out of the riskiest business lines — such as proprietary trading — that occasionally generated huge profits but sometimes led to huge losses.
"Aramco is known for paying very little fees – for a transaction of this magnitude in the ECM (equity capital market) you are looking at 100 to 150 basis points, but Aramco will pay just 10 basis points," he told Reuters.
The top five players – JP Morgan, Citigroup, Bank of America Merrill Lynch, Goldman Sachs and Morgan Stanley – reported an average 27% year-on-year rise in equity capital markets fees and a 2515% increase in revenues from debt capital markets.
LONDON (Reuters) - Investment banking fees fell 2395 percent worldwide in 2016, dragged down by a 23 percent fall in equity capital market (ECM) fees, Thomson Reuters data showed on Wednesday, raising the pressure on banking giants fighting to restore profitability.
HONG KONG, March 14 (Reuters) - Andrea Casati will return to UBS Group AG in mid May as a managing director and head of Asia Pacific equity capital market syndicate, Thomson Reuters publication IFR reported on Tuesday, citing an internal memo.
"As part of this unique, collaborative initiative, we are dedicating a portion of our effort toward attracting the Saudi Aramco IPO to TSX," Nick Thadaney, President and CEO, TSX Global Equity Capital Markets said in a statement emailed to Reuters.
However, uncertainty caused by Britain's exit from the European Union could make that a difficult time to launch a deal, meaning Metro Bank may have to pay over the odds, equity capital markets bankers have told Reuters in recent weeks.
But Arumemi-Ikhide said Arik had grown rapidly and had been planning to raise equity capital of as much as $1 billion in the second quarter and then a possible stock market listing in Lagos and London, rather than sourcing debt.
In the scenario study, Societe Generale's transitional fully-loaded common equity capital ratio – a key measure of a bank's ability to withstand shocks — would fall to 8.03 percent, making Societe Generale the 10th most vulnerable of the "systemically important" institutions covered.
PARIS (Reuters) - BNP Paribas has poached three senior bankers for its equity capital markets (ECM) and cash equities teams, and the French bank added that global head of ECM Thierry Olive would take a new role with BNP Paribas in Asia.
In fact, forcing banks to reduce their leverage by holding more expensive equity capital relative to their assets may have the perverse effect of incentivizing some banks to take more risk in order to pay for that more expensive capital.
Bayer said last week that once it is sure enough that regulators will give it the green light, it would raise fresh equity capital to fund the Monsanto deal, which will make it the world's largest maker of seeds and pesticides.
Berenberg has appointed James Ramp as head of equity capital markets in its New York office, the latest hire for the German investment bank in the United States as it seeks to expand its share of business in the country.
The central bank of San Marino, a former tax haven landlocked inside central Italy, plans to inject liquidity into its ailing lenders, a first step toward overhauling them and finding new equity capital, said a source close to the matter.
The move comes as the Swiss bank seeks to recoup some of its lost market share in the Asia investment banking business, especially in equity capital market deals where it has taken a hit in the first nine months of 2016.
HONG KONG, Nov 15 (Reuters) - Citigroup said it has appointed Ken Chow and Udhay Furtado to head the bank's Asian equity capital markets in a move which will bring the investment bank's local structure in line with its global operations.
We selected zones based on the intent of Congress that this new federal capital gains tax incentive attract scarce equity capital to underinvested communities for two purposes: the development of brick and mortar projects and the growth of operating businesses.
Our "protectionist playbook" identifies pockets within these cyclical sectors that may hold up better over a 12 month horizon if trade frictions persist, offering places where investors might consider putting their equity capital to work in this time of uncertainty.
"It is way more expensive than any other equity capital markets (ECM) deal in Europe because of the risk profile of the transaction," said a London-based analyst who stressed the "country risk" adds to the operational complexity of the transaction.
In Sydney, Hong Kong and elsewhere in the Asia-Pacific region, where Deutsche Bank used to rank among the top 10 in league tables for equity capital market (ECM) deals, several bankers said entire teams in sales and trading were going.
HONG KONG, July 8 (Reuters) - Deutsche Bank's Asia-Pacific head of equity capital markets, Jason Cox, is leaving as part of the company's move to eliminate 18,000 jobs globally, people with direct knowledge of the matter told Reuters on Monday.
LONDON/HONG KONG (Reuters) - Global equity capital markets activity has sunk to a four-year low in 2016 according to quarterly ThomsonReuters data, although bankers and investors said that while Brexit could dent volumes it would not sink the market.
"We are very busy with a chunk of rescue rights issue RFPs and mandates - I spent most of the weekend looking at several new potential deals," said one banker who heads equity capital markets for a major investment bank in London.
The cap on the foreign currency forward positions that local banks can hold will be raised to 50% of their equity capital from 40% currently starting March 19, the finance ministry and the Bank of Korea said in a statement.
When the merger was agreed in September 2016, Bayer said it would raise $19 billion worth of fresh equity capital for the takeover deal, parts of which was covered by issuing 4 billion euros in mandatory convertible notes in November 2016.
The cap on the foreign currency forward positions that local banks can hold will be raised to 50% of their equity capital from 40% currently starting March 19, the finance ministry and the Bank of Korea said in a statement.
"A deal can always get done if the price is right, no matter what the market conditions are," said James Wang, co-head of equity capital markets in Asia ex-Japan, at Goldman Sachs, referring to the broader IPO market.
Equity capital market activity in the country was dominated by secondary offerings, accounting for nine of the top ten deals this year, but overall volume was down 37% with $13.4 billion raised in the first three quarters, as per Refinitiv data.
Average core equity capital buffers at banks across the 28-country bloc continue to rise, and reached 13.6 percent of risk-weighted assets by the third quarter of last year when all requirements are also factored in, well above regulatory minimums.
The biggest Swiss bank hired Michael O'Donovan as a managing director in its Americas equity capital markets group and Adam Schwarzschild as an executive director in its financial sponsors group, according to an internal memo seen by Reuters on Friday.
Equity capital market deals in Shanghai rose 2.8 percent in 2016, while volumes at Shenzhen's SME board and its tech-heavy ChiNext board surged by 74 percent and 64 percent, respectively, buoyed by follow-on share sales, Thomson Reuters data showed.
Chief Executive Zeno Staub said the changes would leave the bank advising ultra-high net worth clients on their investments and completing equity capital markets (ECM) or debt capital markets (DCM) transactions via partners, rather than doing them in-house.
But Hong Kong, the world's biggest equity capital-raising center for four of the last 214 years, is looking to revive its appeal and this month announced plans to allow dual-class shares as it tries to attract Chinese tech listings.
"If you're a high growth company, having alternative sources of capital to tap into - such as convertible bonds - to fund that growth is important," said David Binnion, co-head of equity capital markets in Asia ex-Japan at Goldman Sachs.
In spite of Hong Kong's role as the world's biggest equity capital-raising center for four of the last 10 years, it has fallen well behind New York, its arch-rival, in the battle for hot tech stocks and other growth sectors.
LONDON, April 13 (IFR) - Debt capital market practices have come out mainly unscathed from a Financial Conduct Authority investment and corporate banking market study, though the UK watchdog sent the equity capital markets a shot across the bows in its interim report.
The following are the main details of Deutsche Bank's planned overhaul: Deutsche Bank will exit its equities sales and trading business, which in 22018 bought in 292.7 billion euros ($2.20 billion) in revenue, but will retain a small equity capital markets business.
Even so, the current year's performance would be weighed down by subdued client activity in debt and equity capital markets, larger-than-expected restructuring costs and an initially significant drag from activities earmarked for wind-down and booked in the strategic resolution unit.
Analysts and equity capital markets bankers expect the lender may have to offer a deep discount on its shares to complete the 350 million pound capital raise, and some said it may need to raise more funds after that, a notion Donaldson rebutted.
"Both bulls and bears alike that we speak to see it as highly likely that Tesla will seek to raise equity capital sufficient in amount to quell questions about its potential financing needs," Morgan Stanley analysts wrote in a note dated April 30.
"We can best achieve these goals if the largest banks were to partition their commercial and investment banking activities and also hold tangible equity capital at a level where bank owners — not the taxpayer — cover the cost of inevitable failures" Hoenig said.
Chin, who joined UBS in 1994 and left in 2015 to pursue academic interests, will take over from Sam Kendall who will be relocating to New York as the head of the bank's global equity capital market (ECM) business, the memo said.
UBS was ranked No. 3 in Asia Pacific, excluding-Japan, M&A league table in the first half of this year, while it was placed fifth in the regional equity capital markets league table in the same period, according to Thomson Reuters data.
HONG KONG (Reuters) - Global investment banks tumbled in league table rankings for equity capital market (ECM) deals in Asia Pacific in the first half of 2016, as share offerings outside China that they typically rely on dried up, preliminary Thomson Reuters data showed.
Budweiser APAC's IPO will not have a separate tranche for cornerstone investors, a common feature of Hong Kong public offerings, to ensure enough liquidity for global institutional investors, said Alex Abagian, co-head of Asia Pacific equity capital markets at Morgan Stanley.
LONDON, June 7 (IFR) - Berenberg has appointed James Ramp as head of equity capital markets in its New York office, the latest hire for the German investment bank in the US as it seeks to expand its share of business in the country.
The firm held the top position in league tables for equity capital markets (ECM) and investment banking fees for M&A in the first six months of 2019, ahead of Macquarie Group Ltd and Goldman Sachs Bank AG, according to Refinitiv data.
UBS has also recently hired Jose Luis Martinez from JP Morgan as head of LatAm M&A, Daniel Bassan from Credit Suisse as a managing director in Brazil, and Facundo Vazquez from Itau as head of equity capital markets in Latin America.
In spite of Hong Kong's role as the world's biggest equity capital-raising centre for four of the last 10 years, it has fallen well behind New York, its arch-rival, in the battle for hot tech stocks and other growth sectors.
Investors maybe concerned that Trump is "going after the Affordable Care Act and is burning a little political capital that might otherwise have been used for business friendly matters," said Art Hogan, chief market strategist of Wunderlich Equity Capital Markets in New York.
MILAN (Reuters) - Italian tyremaker Pirelli, bought by state-owned China National Chemical (ChemChina) two years ago, will sell up to 222 percent of its equity capital in an initial public offering as it plans to return to the Milan stock exchange in October.
The BCC banks found it impossible to raise equity capital on the markets and had seen their profits drop, Visco said, and had lower provisions against loan losses despite a bad loan burden which was two percentage points above the high Italian average.
"Although these new tools have been put in place and positively received, the continued strength of the broader market has been the primary factor driving IPO volumes," said Jim Cooney, head of equity capital markets for the Americas at Bank of America.
Launching a capital increase before a settlement with U.S. authorities on the mortgages case is deemed impossible as few investors will be willing to buy shares without being able to gauge the impact on the lender's capital, equity capital markets bankers said.
Branco's remarks come as the government released a list of the 50 largest borrowers at state-controlled development bank BNDES, which shows Petrobras, as the company is known, as the leading recipient of credit lines and equity capital disbursed by the bank.
Barclays was accused of concealing 21.6 billion pounds (then about US$42 billion) of mortgage-backed securities and other risky assets insured by monoline insurers, and a March 2008 "directive" by the U.K. Financial Services Authority requiring it to raise more equity capital.
HONG KONG, March 27 (Reuters) - Asia's equity capital market (ECM) bankers are pinning hopes on a pick-up in follow-on share sales when markets stabilise, after suffering the worst start to the year since the early days of the global financial crisis.
Loft raised equity capital from angel investors such as Max Levchin of PayPal, Joe Lonsdale of Palantir, Opendoor founder Eric Wu, Mike Krieger of Instagram, David Vélez of Nubank and Josh Kushner of Thrive Capital, whom Pencz met during undergrad studies at Harvard.
BofA was third in the Asia Pacific M&A advisory league table including Japan in 2019, but it was ranked ninth in the equity capital markets table and did not feature in the top 20 debt capital market rankings, according to Refinitiv data.
Adjusted pre-tax profit in the Investment Bank (IB) stood at CHF342m, 44% lower yoy, principally driven by a weak quarter for debt (including leveraged finance) and equity capital markets and a 16% fall in equity trading revenue against a strong 0003Q15.
" J.P. Morgan's Greg Chamberlain, who leads the bank's U.S. technology equity capital markets group, echoed that sentiment, telling CNBC that, "It's our job as advisors to clearly set out the different ways of becoming a public company and how to achieve these objectives.
Startup: Cologix Headquarters: Denver Industry: IT Services — Data center provider Number of venture rounds: 3 Venture equity capital raised: $43.9 million Pre-acquisition debt raised: $375 million Acquirer: Stonepeak Infrastructure Partners Closing Date: March 21, 2017 Amount: $500 million Sources: PitchBook, Cologix
Startup: ZirMed Headquarters: Louisville, Kentucky Industry: Healthcare billing software Number of venture rounds: 2 Venture equity capital raised: Not disclosed Acquirer: Navicure Private-equity backer: Bain Capital Name of successor startup: Waystar Closing Date: November 1, 2017 Amount: $750 millionSources: PitchBook, Waystar
Industry: Pet supply online retailer Number of venture rounds: 3 Venture equity capital raised: $286 million Acquirer: PetSmart Private-equity backer: BC Partners Closing Date: May 31, 2017 Amount: $3.4 billionSources: PitchBook, ChewyGot a tip about the venture-capital industry or startups?
Three women have made it to the same executive committee, namely global head of equity capital markets Liz Myers and global chairs Isabelle Sellier and Jennifer Nason whose focus has so far been on financial services and TMT respectively, the source said.
"Now that the go-private transaction isn't happening, we think it'd be wise for Tesla to protect the downside and at least try to raise significant new equity capital sooner rather than later," analyst Itay Michaeli said in a note to clients Sunday.
"(Secondary market) investors are participating in follow-on financings that make already strong companies stronger, enabling them to withstand even lower commodity prices or potentially even allowing them to play offense," said Americas equity capital markets head at Bank of Montreal Michael Cippoletti.
Even in cases where the regulators are not too aggressive with banks with low ROEs, those banks will be under increased pressure from investors to boost their ROEs while returning some of their equity capital to investors through increased dividends and share buybacks.
Hedge fund Caius Capital has told European authorities that two-thirds of UniCredit's equity capital is invalid under EU rules unless the Italian bank converts almost 3 billion euros of complex instruments into ordinary shares, imposing heavy losses on some investors, the Financial Times said.
What the market has been hoping for, he said, would be the likes of the "crown jewel" of financial reforms involving initial public offerings that will allow Chinese companies to raise money through equity capital rather than debt, taking some pressure off China's banking system.
"I think it has to do with the idea that sometimes those groups, both millennials and people with multi-ethnic backgrounds tend to be beauty enthusiasts," Linda Bolton Weiser, a senior analyst with Davidson Equity Capital Markets, told BuzzFeed News about Estée Lauder's acquisitions.
The shares, accounting for a 1.7 percent stake in the world's largest palladium producer, were bought predominantly by British-based investors, with Russian investors also buying a third of the shares, Dmitry Bolyasnikov, executive director of equity capital markets at VTB Capital, said on Wednesday.
Its investment banking team for the Asia-Pacific region numbered about 300 people before the cuts, of which 10% to 15% will be laid off, almost all in its equity capital markets division, according to a senior Asia banker with direct knowledge of the plans.
Aside from Mendoza, the bank has recently hired Jose Luis Martinez from JP Morgan as head of LatAm M&A, Daniel Bassan from Credit Suisse as a managing director in Brazil, and Facundo Vazquez from Itau as head of equity capital markets in Latin America.
"Not only does this positive performance encourage investors and new IPO issuers to come to market in 2017, it also sets up a positive backdrop for follow-on raises for growth and secondary selldowns," argues Liz Myers, head of global equity capital markets at JPMorgan.
A spokeswoman for ICBC confirmed the move, which follows the appointment at the end of August of former Credit Suisse banker Vikram Khanna as head of advisory to oversee the development of the bank's mergers and acquisitions, equity capital markets and debt advisory businesses.
The company, which posted a 907.8 million euro loss in 2017, is pushing ahead with its plan to raise 800 million euros in equity capital to reduce debt and boost its financial flexibility amid efforts to turn the company around and return it to growth.
Its investment banking team for the Asia-Pacific region numbered about 300 people before the cuts, and 10% to 15% will be laid off - almost all in its equity capital markets division, according to a senior Asia banker with direct knowledge of the plans.
With funding from local banks and non-banking financial companies drying up following a bad loan and credibility crisis in the financial sector, top global pension funds, sovereign wealth funds and private equity companies have stepped in to fill the gap, especially in equity capital.
The Capital Magnet Fund provides essential equity capital that non-profit developers and lenders often cannot find elsewhere — funding to do pre-development work, create revolving loan funds, establish loan loss reserves and provide loan guarantees — all critical pieces of affordable housing and community development.
Hong Kong, the world's biggest equity capital-raising center for four of the last 10 years, is looking to revive its appeal as a venue for IPOs and come off lows plumbed in 2017, the city's worst year for raising equity in a decade.
However, Citigroup Inc analysts said earlier this month that if a go-private transaction is looking less likely, "It would be wise for Tesla to at least try to raise significant new equity capital sooner rather than later," so it can inspire investor confidence.
Equity capital markets deals, which are down 40.8 percent in Europe since January, are also set for a freeze in the wake of Brexit, although Bidhi Bhoma, director of corporate finance at Shore Capital, said he was confident that activity could resume in September.
Startup: Integral Ad Science Headquarters: New York Industry: Digital advertising analytics Number of venture rounds: 6 Venture equity capital raised: $81.3 million Pre-acquisition debt raised: $14.2 million Acquirer: Vista Equity Partners Closing Date: July 1, 2018 Amount: $835 millionSources: PitchBook, Integral Ad Science
Old role: Head of tech ECMNew role: Cohead of US ECM, global head of tech ECMMonth: MarchBarclays poached a pair of high-profile bankers to run equity capital markets in the US this year: Taylor Wright Morgan Stanley and Kristin DeClark from Deutsche Bank.
Haidilao, which mainly serves spicy Sichuan style hotpot and is popular for the free services and entertainment such as manicures and board games offered to waiting customers, sold about 8 percent of its enlarged equity capital, giving it a valuation of about $12 billion.
Proceeds from global equity capital markets (ECM) fell 21% to $1003 billion in 2100, according to Refinitiv data, a figure propped up by state-owned oil giant Aramco's record-breaking $2100 billion IPO and Chinese e-commerce giant Alibaba's $2100 billion secondary Hong Kong listing.
"We have been able to drive improvements in the structure so that today it attracts high-profile sponsors and better transactions, which in turn has attracted the attention of high-quality investors," said Jeff Bunzel, head of Americas equity capital markets at Deutsche Bank.
"There are a lot fewer elephant-sized IPOs in the pipeline and the long list of smaller deals will need a more stable market backdrop for many of them to complete," said Alex Abagian, co-head of Asia Pacific equity capital markets at Morgan Stanley.
One of the attractions for banks is a much-coveted top spot on the equity capital market league tables, which are calculated on the basis of deal value as opposed to fees and are included in every client presentation if they make a bank look good.
Adding in four follow-ons (additional share offerings after an IPO), that brings to 20 the total of U.S. equity capital market deals in 2017, more than double the nine that had come to market during the same period last year, according to market analytics firm Dealogic.
"It's a positive sign for Europe's tech sector, which has seen very few IPOs this year," an equity capital markets banker said, adding that one of the sector's next listings is likely to be meal kit group HelloFresh and music streaming service Spotify after the summer break.
"We've shifted from that exuberance post the election and the rotation into some of the sectors and now we are entering a wait-and-see mode with earnings knocking at the front door," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in News York.
"While overall valuations have come off recent highs due strong corporate earnings, stocks of European companies which floated this year are only up approximately 2 percent on average," Christoph Stanger, co-head of equity capital markets in Europe Middle East and Africa at Goldman Sachs said.
"Moody's believes that capital infusions from the government remain the only viable source of external equity capital, because of the public sector banks' low capital market valuations, which would likely continue to deny them the option of raising fresh equity from the capital markets," the agency said.
While so far there has not been any significant impact from the U.S.-China trade spat, with funds raised in Asia-Pacific equity capital markets (ECM) at three-year highs and blockbuster IPOs such as that by Xiaomi, there are indications smaller deals are getting hurt.
"From there, it is my hope that senators will follow suit with the House to modernize our capital markets, bring (initial public offerings) back to the U.S. and help our entrepreneurs access investors and equity capital which will bring economic growth for all Americans," Hensarling said.
More than one person exiting the building could be overheard saying that while they still had their jobs, they didn't said it would exit equity sales and trading but chose to preserve most of its US and European equity-research teams and the equity-capital-markets operation.
The company has access to the equity capital markets as evidenced by the public equity raise of over $2110 million of capital in April 21000 and the utilization of its at-the-market (ATM) equity issuance program that has raised an additional $211 million in 21500.
Overall in the Asia-Pacific region, including Japan, equity capital market volume is down 25% for the first nine-months of the year compared with the same period last year at $162.6 billion, with IPOs seeing their steepest on-year drop at 41.5%, showed data from Refinitiv.
Startup: Spredfast Headquarters: San Francisco Industry: Digital marketing, customer relationship management Number of venture rounds: 7 Venture equity capital raised: $140.3 million Acquirer: Lithium Technologies Private-equity backer: Vista Equity Partners Name of successor startup: Khoros Closing Date: October 2, 2018 Amount: $540 millionSources: PitchBook, Khoros
"I do think private equity is a very important avenue for a lot of companies to get equity capital," Ngai said, noting that it is often difficult for private enterprises to get funding from banks due to Beijing's efforts to reduce the economy's reliance on debt.
"The expectation is that over the next couple of years there is probably upwards of $2236.3 billion of market capitalization just in the tech sector in China that could go public," said Tucker Highfield, head of equity capital markets syndicate for Asia Pacific at Credit Suisse.
HONG KONG (Reuters) - Asia's army of equity capital bankers are betting on a stream of listed companies seeking fresh funds, including Alibaba's plans for an up to $20 billion Hong Kong share sale, as trade tensions continue to weigh on the big business of taking firms public.
As part of collaboration talks between Canadian and Saudi Arabian leaders, "we are dedicating a portion of our effort toward attracting the Saudi Aramco IPO to TSX, Canada's premier stock exchange," Nick Thadaney, president and CEO, global equity capital markets at TMX, said in an emailed statement to CNBC.
About two-thirds of KB Financial's 2015 net profit came from its banking unit, Kookmin Bank, and the acquisition of South Korea's sixth-largest securities brokerage by equity capital is aimed at bringing that ratio closer to a stated goal of increasing non-bank contribution to 13 percent.
The Queensland-headquartered Aeris, with a market value of A$78 million ($55.19 million), said the acquisition could be funded through a combination of debt, an equity capital raising and a so-called streaming agreement through which it would sell silver produced at the mine alongside copper to Glencore.
You might not think of a mutual fund as an entity that would take the risk of investing in technology start-ups, but Fidelity has been putting money into private companies for years, said Andrew Boyd, head of global equity capital markets, who oversees private investment for Fidelity.
Deutsche Bank's Asia-Pacific head of equity capital markets (ECM), Jason Cox, left, and ECM teams were disbanded in Japan, Australia and most of Asia, people with direct knowledge of matter said, adding that only a few syndicate bankers including the ones working on ongoing deals will remain.
The Queensland-headquartered Aeris, with a market value of A$13 million ($55.19 million), said the acquisition could be funded through a combination of debt, an equity capital raising and a so-called streaming agreement through which it would sell silver produced at the mine alongside copper to Glencore.
Moody's said it estimated that the 11 banks - including State Bank of India, Bank of Baroda and Punjab National Bank - will need external equity capital of 700 billion rupees to 950 billion rupees, over a two-year period ending March 2019, to fully meet Basel III capital rules.
An up to $5 billion listing from China's largest peer-to-peer lender Lufax and potential IPOs from e-commerce giant Alibaba's online finance arm and Sinopec Marketing in Hong Kong are expected to help reverse this year's 22.5 percent slide in Asia-Pacific equity capital markets (ECM) deals.
Today, let's take a quick peek at three firms that have found interesting takes on providing alternative startup financing: Earnest Capital with its innovative SEAL agreement, RevUp Capital, which offers services along with non-equity capital, and Capital, which both invests and loans using its own proprietary rubric.
HONG KONG (Reuters) - Asia ex-Japan share sales are expected to rebound in the final quarter of 2017, led by tech-related IPOs in Hong Kong and insurance listings in India, helping the region's equity capital markets shrug off a dismal nine months and draw level with last year.
Haidilao, which mainly serves spicy Sichuan style hotpot and is popular for the free services and entertainment such as manicures and board games offered to waiting customers, sold about 8 percent of its enlarged equity capital at $4.23 per share, giving it a valuation of about $12 billion.
Investment banking product leadershipKevin Foley, head of global debt capital markets*Huw Richards, global head of digital investment bankingAchintya Mangla and Mike Millman, co-heads of global equity capital markets*Andy O'Brien, head of global loan capital strategyAnu Aiyengar and Dirk Albersmeier, new co-heads of global mergers & acquisitions*
"Having seen the results of the French election over the weekend, investors are now taking a disaster-avoided view of markets, so all of the risk-off trades are unwinding and risk-on trades put on," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York.
Vantage Data Centers, which provides data center capacity to cloud providers and enterprise companies, today announced that it has secured more than $800 million in new equity capital from its current investors and new investor Digital Colony Partners, which recently closed its $4.05 billion inaugural fund for investments in digital infrastructure.
RBC Capital Markets, the investment banking arm of RBC has in recent years made a series of senior hires in Europe, in an attempt to beef up its mergers and acquisitions (M&A) and equity capital markets (ECM) franchise in the region, where it employs around 200 people in the division.
"Tax reforms are going to be as complicated as the repeal and replace (of the Affordable Care Act) and the markets may well think that the timing of the tax reform is going to be dragged out," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York.
RATING SENSITIVITIES The following factors may result in positive momentum for the ratings and/or Outlook: --Fitch's expectation of leverage sustaining below 6x; --Fitch's expectation of HCP restoring its access to unsecured debt and equity capital to levels consistent with years prior to 2016 and consistent with higher rated peers.
MUMBAI, June 8 (Reuters) - Moody's Investors Service said on Thursday the 11 Indian state-run banks that it rates could need up to 950 billion rupees ($14.76 billion) in equity capital by March 2019, far above the 200 billion rupees the government plans to inject into state banks by then.
Regulation and private equity capital have kept many smaller companies out of the public markets for far longer than they used to wait to start trading stock, and that is one of the challenges to the business, she told CNBC Tuesday in an interview from the floor of the NYSE.
The stress tests' adverse scenario, which assumed a collapse in Irish GDP to -28 percent this year, -214 percent in 2017 and growth of 1.7 percent in 2018, left Bank of Ireland's core equity capital ratio, a measure of financial strength, at 6.15 percent under the Basel III industry rules.
N. The issue will be the largest ever mandatory convertible bond for a European issuer and the largest European equity capital markets (ECM) deal in 2016, which has proved a volatile year for markets, leading to the cancellation or delay of several initial public offerings in Europe in recent weeks.
The deal was Deutsche's first European IPO since a radical overhaul in July, which saw the bank pull out of equity trading and launch a new strategy for its remaining equity capital markets business, and for many in the bank it was proof that the new set-up could actually work.
"We're trying to find something we can continue to buy and make a bigger portion of our funds," said Andy Boyd, the head of global equity capital markets at Fidelity, the largest private-firm equity investor by far, with stakes totaling roughly $5 billion across several funds, according to Morningstar.
Techcombank, the largest private sector lender in Vietnam priced 164 million shares or 1 percent of its equity capital at 128,000 dong ($5.62) each, compared with a marketed range of 120,000-128,000 dong each, said the source, who did not wish to be identified as pricing terms have not been announced.
The largest private sector lender in Vietnam is expected to price 164 million shares or 14.1 percent of its equity capital at 128,000 dong ($5.62) each, compared with a marketed range of 120,5.43-128,000 dong each, the source said on Monday on condition of anonymity as pricing terms have not been announced.
Q1 2019 Europe Investment Banking Review from Refinitiv Category Amount Y-O-YINVESTMENT BANKING FEES $4.9 Billion -25%MERGERS & ACQUISITIONS (Value) $183.2 Billion -64%EQUITY CAPITAL MARKETS (Issuance) $25.1 Billion -43%DEBT CAPITAL MARKETS (Issuance) $146.9 Billion -6% (Reporting by Justin George Varghese and Noor Zainab Hussain in Bengaluru; Editing by Elaine Hardcastle)
Risks from credit was a common theme across the EU. The EBA said that across the 48 banks tested, the adverse scenario dented the core equity capital ratio by 395 basis points when all new and planned capital rules were applied, higher than in the last test in 2016 due to credit losses.
Deals in India and South Korea will also drive a pick up in the region's equity capital markets (ECM) activity that - according to preliminary Thomson Reuters data - rose 7 percent across Asia-Pacific exchanges in the first half of 2017, versus an almost 50 percent drop in the corresponding year-ago period.
"We're seeing a kind of bifurcation among hedge funds, with some moving towards more quant-driven or automated style, while others are turning towards a more 'long-only' model, where they are judged on longer-term investment performance," said Craig Coben, global head of equity capital markets at Bank of America Merrill Lynch.
Existing Vinhomes investors are selling about 22017 million shares, or 24.6 percent of the firm's equity capital, at 22018,27.6 dong ($22019) each, versus an indicative range of 2922,13-21,222 dong, said the sources, who are familiar with the matter but did not want to be named as terms of the pricing were confidential.
"While fees in India (usually) are attractive in the Indian context, they are not probably as attractive in an Asian or a global context," said V. Jayasankar, head of equity capital markets (ECM) at Kotak Mahindra Bank Ltd's investment banking arm, which Thomson Reuters data showed arranged the most deals this year by total value.
But Alasdair Warren, the bank's head of corporate and investment banking for Europe, Middle East and Africa (EMEA) told Reuters he's confident the German lender can recover some lost ground over the next 12 months, particularly in equity capital markets (ECM), and he is making a series of changes to the investment bank's structure.
As the Fed noted after conducting stress tests of large lenders last year, banks had common equity capital, a metric regulators use to assess the strength of a lender's balance sheet, that was equivalent to 12.5 percent of their assets, which was more than double the 5.5 percent they had at the start of 2009.
"The Board of Directors and executive management of Aryzta remains firm and unanimous that 800 million euros of equity capital is required to reduce its excessive debt levels, strengthen its balance sheet and provide the necessary liquidity and working capital funding to deliver on its multi-year turnaround plan," the company said in a statement on Tuesday.
Asked about PKO's potential share in financing Poland's future nuclear plant and central airport, Jagiello said that every project that is good for the bank and for the Polish economy should be considered, but he stressed that PKO may commit no more than 10 percent of its over 36-billion zloty equity capital to a single project or company.
"If we have a market that is willing to accept a roadmap that says we are going to repeal and replace Affordable Care Act and then have some form of tax reform by the August recess, I think the market will continue to be supportive," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York.
Here's what the board is expected to look like and why it matters: The biggest problem for companies hoping to tap China's existing equity capital markets is that listings are entirely overseen by regulators who have often halted the process for public listings for months on end during times of market weakness that have produced a backlog of 18 months at times.
"What you have is a tug-of-war between near-term positives in terms of economic data and earnings season juxtaposed against the confusion over what's important in the first 100 days of the new administration and when will we get to see things like tax reforms," said Art Hogan, chief market strategist at Wunderlich Equity Capital Markets in New York.
"The Board of Directors and executive management of Aryzta remains firm and unanimous that 800 million euros of equity capital is required to reduce its excessive debt levels, strengthen its balance sheet and provide the necessary liquidity and working capital funding to deliver on its multi-year turnaround plan," the Swiss-Irish baking company said in a statement on Tuesday.
However, we expect performance in 2016 to remain challenged by a combination of subdued client activity in debt and equity capital markets, larger-than-expected restructuring costs (CHF1bn in 2016, in addition to between CHF0.7bn and CHF1.2bn in planned costs to achieve savings between 443 and 2018) and an initially significant drag from activities earmarked for wind-down and booked in the SRU.
"The United States is a stand-out: it has led in all fronts including IPOs – it started with inflationary expectations but there is also optimism about tax reform and the Fed slowly raising rates while being in control of the economy," said Achintya Mangla, head of equity capital markets (ECM) in Europe, Middle East and Africa at JP Morgan (JPM.
Here's what the board is expected to look like and why it matters: The biggest problem for companies hoping to tap China's existing equity capital markets is that listings are entirely overseen by regulators who have often halted the process for public listings for months on end during times of market weakness that have produced a backlog of 18 months at times.
Location: TorontoThe bankers: Robert Orviss, managing director; April Cuadra, equity capital markets; Edward Drake, VP of investment banking Representative transactions: Co-led Slang Worldwide's IPO, advised Scythian Biosciences on its $300 million sale of its Latin American assets to Aphria Clarus Securities is an active participant in the cannabis market, helping numerous companies go public on the Canadian Securities Exchange through a reverse takeover in 2018.
Ohio-based Coterie, a startup working on in the commercial insurance space, has announced today it has raised $8.5 million Series A. The company had previously raised a little over $3 million in early investments, bringing its equity capital raised to nearly $12 million to date; the firm also told TechCrunch that it has raised $2.5 million in available venture debt as part of its current round.
The increase to the domestic stability buffer brings the amount of Common Equity Tier 1 (CET0.43) capital - the core measure of a bank's capital, excluding preferred shares and non-controlling interests - banks must hold to at least 10.25% of risk-weighted assets; a base level of 4.5%, a "capital conservation buffer" of 2.5%, and a 1% common equity capital surcharge, in addition to the DSB.
KEY ASSUMPTIONS Fitch's key assumptions within the rating case for WPG include: --A modestly accommodative operating environment with low-single digit growth in operating cash flows attributable in part to redevelopment expenditures; --WPG's access to unsecured debt and equity capital remains limited, and it does not issue equity or engage in meaningful asset sales to reduce leverage; --WPG limits investment activity to redevelopment projects.
" Sachin Kamdar, New York City, CEO, Parsely "I was probably one of a handful of tech lawyers in NY, at least of my vintage, working with startups and venture funds in the early and mid 2000s, so I kind of grew up doing that stuff in New York when most of the other corporate lawyers in the city were focused on more traditional M&A, private equity, capital markets, etc.
ISTANBUL, May 1 (Reuters) - * CEO OF TURKEY'S BEYMEN SAYS TO FLOAT 49 PCT OF COMPANY, WITH SOME 74 PCT OF SHARES IN IPO TO GO TO INTERNATIONAL INVESTORS * BEYMEN CEO SAYS BOOKBUILDING PLANNED FOR MAY 3-4, ISTANBUL BOURSE LISTING SEEN ON MAY 11 * BEYMEN CEO SAYS COMPANY WILL FOLLOW A POLICY TO DISTRIBUTE 100 PCT OF ITS DISTRIBUTABLE PROFIT, KEEPING ITS EQUITY CAPITAL AT 20 PCT Reporting by Ebru Tuncay and Ceyda Caglayan
"As the size and influence of these massive institutional holders has grown, so, too, has their power, influence and share of voice — drowning out the voices and interests of Main Street investors who, despite controlling the single largest pool of equity capital in the world, have almost no ability today to influence the decisions these funds make on their behalf, with their money," the Main Street Investors Coalition says on its website.
KEY ASSUMPTIONS Fitch's key assumptions within its rating case for the issuer include: --Operating fundamentals remain favorable with low single digit growth in same-store net operating income despite supply in some senior housing markets; --The issuer completes the QCP spin-off and announced dispositions; --The issuer manages acquisition volumes and capital markets activity to sustain leverage between 6x-13x; --The issuer's access to debt and equity capital improves but remains below prior levels and peers.
Minimum half dividend is expected for 2016 * Says "we have reached our goal of entering Solvency II without raising new equity capital, and we are now set to resume dividend payments" * Targets return on equity above 10 pct (after tax adjusted for amortisation) * Annual operational costs to be reduced by nok 300 million-400 million in 2018 * Says targets solvency II margin Storebrand group above 150% (revised from 130 pct) * Says dividends linked to group solvency ratio * Says no dividend if solvency ratio without transition rules is below 110 percent * Capital consumption from guaranteed products expected to peak within approximately two years Source text for Eikon: Further company coverage:

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