Investment banking: BarCap’s sovereign success shows Asia ambitions

Lawrence White

February 07, 2010

Indonesia, Philippines, Vietnam debt mandates won; challenge of growing ECM, M&A in competitive field.

Asia Pacific IB Bank Revenue Ranking 2009
Pos.	Bank	Net revenue ($mln)	% share
1	Nomura	1,372	11.3
2	UBS	754	6.2
3	Daiwa Capital Markets	633	5.2
4	Goldman Sachs	573	4.7
5	JPMorgan	559	4.6
6	Morgan Stanley	550	4.5
7	Mizuho	529	4.3
8	Mitsubishi UFJ Securities	479	3.9
9	Credit Suisse	474	3.9
10	Deutsche Bank	455	3.7
21	Barclays Capital	117	1.0
Source: Dealogic

Barclays Capital has started 2010 with a notable success in Asia-Pacific sovereign bonds, becoming the only bank to win mandates on all three deals so far this year. The bank, which was a bookrunner on the $1.5 billion Philippines and $2 billion Indonesia deals priced in January, has also been mandated on the $1 billion Vietnam deal, which was in the market at the time of writing and is expected to yield around 7%.