Nedbank has emerged as the dominant bookrunner in this year’s Sub-Saharan African (SSA) bond market, according to Bloomberg’s latest league tables.
The Johannesburg-based bank has worked on 19.766% of the region’s bonds issued in the first three quarters of 2016, more than double its 9.09% market share over the same period in 2015, when it ranked fifth. The chaser pack comprises FirstRand (12.439%), Barclays (11.491%) and Standard Bank (10.761%).
JPMorgan and HSBC rose to fifth and sixth place, after ranking 14th and 15th respectively last year. However, they have worked on only two or three major deals over the nine-month period. In terms of numbers Nedbank and FirstRand, are the clear leaders, bookrunning 36 and 32 deals, respectively.
Nedbank is South Africa’s third biggest bank by Tier 1 capital, according to The Banker Database.
Bonds’ designation as ‘Sub-Saharan African’ is based on factors such as currency, market of issue, market of syndication and/or country of risk.
