Mideast firms raise $4b in first nine months of 2013

Thomson Reuters on Tuesday released its investment banking analysis for the Middle East region for the first nine months of 2013.

By Staff Report

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Published: Wed 23 Oct 2013, 10:40 PM

Last updated: Tue 7 Apr 2015, 8:22 PM

During the period, Middle Eastern investment banking fees reached US$535.9 million. According to the report, the value of announced M&A transactions with any Middle Eastern involvement reached $29 billion during the first nine months of 2013.

Russell Haworth, managing director, Middle East and North Africa at Thomson Reuters, said: “Middle Eastern companies raised $4 billion from 15 issues during the first nine months of 2013, while Middle Eastern debt issuance reached $4.5 billion during third quarter of 2013.”

He pointed out that the investment banking fees in the first nine months increased 22 per cent increase over the same period last year ($438.6 million).

He added: “This is the best first nine months for fees in the region since 2009. Fees from completed M&A transactions fees totalled $150.2 million, up 37 per cent from the first nine months of 2012 [$109.3 million], and accounting for 28 per cent of the overall fee pool. Fees from debt capital markets underwriting in the region hit $112.7 million, up 75 per cent from $64.5 million during the same period last year, and marking the best first nine months for DCM fees in the Middle East of all time.”

“Equity capital markets underwriting fees totalled $54.2 million, down 42 per cent from the same period last year ($93.9 million) for the lowest first nine month total since 2004.”

“Fees from syndicated lending increased 28 per cent to $218.7 million, accounting for 41 per cent of the first nine month fee total. HSBC earned the most investment banking fees in the Middle East during the first nine months of 2013, a total of $35.9 million for a 6.7 per cent share of the total fee pool. Morgan Stanley topped the Middle Eastern completed M&A fee league table with an 8.8 per cent share. JP Morgan took first place in the Middle Eastern ECM fee ranking with a 14 per cent cut, while Deutsche Bank topped the DCM fee ranking.”

— business@khaleejtimes.com


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