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Deutsche Bank tops media debt adviser ranking; Citigroup, JP Morgan gain

Deutsche Bank Securities Inc. retained its rank as the top financial adviser on debt offerings from U.S. and Canadian media companies for the year-to-date as of Sept. 30, advising on 15 offerings for a total of $4.94 billion in deal credit, according to data compiled by S&P Global Market Intelligence.

While Deutsche Bank's 2019 ranking remained unchanged between the second and third quarters, the bank climbed several spots from 2018, when it ranked ninth for media debt advisers by deal credit.

Most of Deutsche Bank's 2019 debt advisory work in media occurred in the first half of the year, including for larger offerings from Clear Channel Worldwide Holdings Inc. and Netflix Inc. Deutsche Bank also advised on an offering from Clear Channel Outdoor Holdings Inc. in the third quarter. Debt was the most active equity issuance by media companies for the year-to-date.

Citigroup Global Markets Inc. climbed from third to second place in the advisory ranking since June 30, largely due to its work on a $1.1 billion debt offering from TEGNA Inc. as well as a series of debt issuances by Walt Disney Co. in the third quarter. Citigroup had earned about $4.59 billion in deal credit from 20 media debt offerings for the year as of Sept. 30.

J.P. Morgan Securities LLC also saw sequential improvement in its ranking between quarters, earning the third most deal credit for the year-to-date with $4.23 billion from 18 media debt offerings.

A single offering from Clear Channel Outdoor Holdings led to a five-way tie for media common equity advisers Barclays Capital Inc., Citigroup Global Markets, J.P. Morgan Securities, Morgan Stanley and Wells Fargo Securities LLC.

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