Banks forced to extend loans for bond deals - FT.com

Banks in the Middle East are increasingly being forced to extend loans to clients to be awarded a dwindling number of bond advisory deals, bankers say.

As a result, heavyweight banks with sizeable balance sheets such as Standard Chartered and HSBC are mopping up the region’s bond mandates, while others such as JPMorgan and Barclays Capital are slipping down the league tables.

So far this year HSBC is topping the bookrunner league tables for debt capital markets for a second consecutive year, according to Dealogic, a data provider. At the same time, JPMorgan, which led the tables as recently as 2009, has not made the top 10 so far this year, according to the data. Barclays Capital, third last year, has also dropped out of the first 10 this year.

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