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Credit Suisse tops specialty finance common equity league table through Q3

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Credit Suisse tops specialty finance common equity league table through Q3

Two third-quarter deals helped Credit Suisse (USA) Inc. move up to the top spot in SNL Financial's 2017 specialty finance common equity adviser rankings by deal value for the nine months ended Sept. 30.

The Credit Suisse Group AG unit, which ranked second in the sector's common equity league table after the second quarter, finished the first three quarters of 2017 with a deal credit of $721 million from seven offerings. In the third quarter, the company was among book managers on Annaly Capital Management Inc.'s $804.5 million follow-on offering and AGNC Investment Corp.'s $501.8 million follow-on offering. Bank of America Merrill Lynch, which placed second in the common equity rankings in terms of deal credit, also served as a book manager on the Annaly Capital deal.

Morgan Stanley landed deal credit on two specialty finance offerings in the third quarter and led the number-of-deals league table for the sector with 16 transactions worth $567.9 million as of Sept. 30.

Through the first three quarters of 2017, Citigroup Global Markets Inc. led the deal value league table for debt offerings in the specialty finance sector, with deal credit of $8.85 billion from 224 offerings.

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J.P. Morgan Securities LLC led the common equity league table for the financial technology industry at the end of the third quarter with eight deals and deal credit of $1.26 billion. In the most recent quarter, the JPMorgan Chase & Co. unit was among book managers on follow-on offerings from CoStar Group Inc., Evolent Health and TransUnion. BofA Merrill Lynch, which ranked second through three quarters, worked with J.P. Morgan Securities as a book manager on the CoStar and TransUnion offerings in the third quarter.

The Bank of America Corp. unit earned the most deal credit for debt offerings in the financial technology sector as of Sept. 30 with 22 offerings and $3.48 billion in deal credit.

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Morgan Stanley topped the securities and investments common equity league table for the third consecutive quarter by number of deals and deal credit. In the third quarter, the investment bank served as the sole book manager on Financial Engines Inc.'s $137.0 million follow-on offering, its only assignment in the period.

Goldman Sachs & Co. LLC secured the top spot in the sector's debt adviser rankings through the three quarters of 2017 by deal value with 86 deals and deal credit of $22.56 billion as of Sept. 30.

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