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Deutsche Bank Securities extends lead in communications debt offering

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Deutsche Bank Securities extends lead in communications debt offering

Deutsche BankSecurities Inc. was on top of the advisers ranking for the communicationsindustry at the end of the first nine months of 2016, participating in 20offerings for an aggregate deal credit of about $14.52 billion.

Bank ofAmerica Merrill Lynch was No. 2 in the communications debt offeringadviser rankings, participating on 34 offerings for an aggregate deal credit ofabout $9.22 billion. GoldmanSachs & Co. was third, advising on 19 offerings during thefirst nine months of the year and earning an aggregate deal credit of about$5.86 billion.

In the third quarter, while the top three advisers benefitedfrom Verizon CommunicationsInc.'s offering comprising five tranches, Deutsche Bank Securitiesalso benefited from being the sole listed book manager for 's recent $2.5billion offering of 3.375% convertible notes due 2026. DISHsaid in August theproceeds from the offering will be used for strategic transactions, includingthose related to wireless and spectrum.

All told, SNL Kagan counted 22 debt offerings in thecommunications space in the third quarter with an aggregate value of about$29.72 billion, a significant rise from the second quarter which tallied $23.06billion for 19 offerings. The third quarter of 2015 only saw two offeringsvalued at $415 million.  

During the most recently ended quarter, SNL Kagan countedonly one common equity offering wherein Laidlaw& Co. (UK) Ltd. tallied a deal credit of $4.0 million.By comparison, quarter over quarter, there were four common equity offerings inthe second quarter of the year with an aggregate value of about $5.02 billion,and year over year, there were two offerings valued at about $37.5 million inthe second quarter of 2015.

The latest quarter also tallied a preferred equity dealvalued at nearly $1.25 million, although there were no disclosed globalcoordinators and book managers details on these offerings, as of Sept. 30.

There have been no IPOs in the communications space throughSept. 30.

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SNL Kagan is anoffering of S&P Global Market Intelligence.