trending Market Intelligence /marketintelligence/en/news-insights/trending/VSoGXwNbcKTq7zbiQl7uuA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

J.P. Morgan rounds out 2018 with $4.4B in oil, gas debt offerings

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


J.P. Morgan rounds out 2018 with $4.4B in oil, gas debt offerings

Editor's note: S&P Global Market Intelligence has reclassified industries according to the Global Industry Classification Standard. The league table data dispatch articles are now based on the new industry classification and are not comparable with 2017 and prior league table data dispatch articles.

J.P. Morgan Securities LLC held on to its lead among investment banks participating in debt offerings in the oil and gas sector in the last quarter of 2018, while five such offerings pushed Mizuho Securities USA LLC into the top five banks ranked by deal credit for the year.

J.P. Morgan, Deutsche Bank Securities Inc., Bank of America Merrill Lynch and MUFG Securities Americas Inc. remained the top four banks by debt offering deal credit value for the year, although the Bank of America Corp. company dropped to third place as Deutsche Bank rose to second. J.P. Morgan and MUFG retained their respective first and fourth places in terms of deal credit value in the oil and gas sector. J.P. Morgan ended 2018 with a debt offering deal credit value of more than $4.4 billion, which was $814.2 million more than the second-ranked bank.

MUFG and J.P. Morgan each completed five deals in the industry during the fourth quarter, with J.P. Morgan adding more than $1.1 billion to its total deal credit for the year and MUFG adding $621.4 million.

TD Securities (USA) LLC dropped out of the top five entities for debt offering value after the fourth quarter, falling to ninth place for the year. Mizuho Securities USA rounded out the top five for 2018, having completed five debt offerings during the fourth quarter and reached a total deal credit value for the year of $2.45 billion.

Relatively few preferred equity offerings were completed in the oil and gas space in the fourth quarter of 2018. Bank of America, RBC Capital Markets and Wells Fargo Securities LLC each did one deal during the period, each raising its total deal credit from $241.8 million to $269.3 million for the year. They bumped Morgan Stanley out of its previously held first-place ranking by deal credit. Morgan Stanley did no preferred equity offerings in the oil and gas sector during the quarter.

Only three banks did common equity offerings in the oil and gas space during the fourth quarter of 2018. Morgan Stanley did one deal, holding onto its first place ranking in terms of deal credit. J.P. Morgan's one oil and gas common equity offering during the quarter boosted the bank's total deal credit for the year by $23 million, although the bank dropped in ranking from seventh to eighth place.

TD Securities did its first oil and gas common equity offering for 2018 in the fourth quarter, ranking in sixth place in terms of deal credit with a total of $152.6 million.

SNL Image