0% found this document useful (0 votes)
238 views

Dealogic DCM Criteria

This document outlines Dealogic's criteria and definitions for their debt capital markets league tables from January 1, 2003 to December 31, 2003. It defines the regions, transaction types, and issuer types that are eligible for inclusion in the league tables, as well as the methodology used for ranking underwriters. Submissions for inclusion in the weekly updated tables must be received by Dealogic by 10am on Fridays.

Uploaded by

vineet_bm
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
0% found this document useful (0 votes)
238 views

Dealogic DCM Criteria

This document outlines Dealogic's criteria and definitions for their debt capital markets league tables from January 1, 2003 to December 31, 2003. It defines the regions, transaction types, and issuer types that are eligible for inclusion in the league tables, as well as the methodology used for ranking underwriters. Submissions for inclusion in the weekly updated tables must be received by Dealogic by 10am on Fridays.

Uploaded by

vineet_bm
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 3

2/17/2014

Dealogic DCM Criteria

DCM Criteria & Definitions All table s from Jan 1st 2003 to De c 31st 2003. A sia Pacifc include s Asia, India Subcontine nt and Australasia. A sia Pacific (ex Japan) include s Asia (but e x clude s Japan), Indian Subcontine nt and Australasia. A sia (ex Japan) include s Asia (but e x clude s Japan) A sia include s North Asia, South East Asia and the Indian Sub C ontine nt North Asia: C hina, Hong Kong, Japan, Kore a, Macau, Mongolia, Taiwan. South East Asia: Brune i Darussalam , C am bodia, Indone sia, Laos, Malaysia, Myanm ar, Philippine s, Singapore , Thailand, Tim or-Le ste , Vie tnam . Indian Sub Continent: Banglade sh, Bhutan, India, Maldive s, Mauritius, Ne pal, Pak istan, Sri Lank a. A ustralasia include s Australia, Ne w Ze aland and the South Pacific Islands. International Bonds: are de bt se curitie s that m ay tak e e ithe r Global or Eurobond form or be a dom e stically structure d bond whe re 25% of the issue m ust be prove n to be place d outside the country of issue in the prim ary m ark e ts. Gove rnm e nt de bt is include d if it is unde rwritte n by an inte rnational syndicate . Yank e e and Sam urai bonds are not re garde d as inte rnational unle ss at le ast 25% of the bond is sold outside of the North Am e rica and Japane se m ark e ts re spe ctive ly. Cross Border (Foreign) Bonds: are de bt se curitie s that are sold into a dom e stic m ark e t but are issue d by a non-dom e stic issue r (e g: Sam urai issue s). Domestic Bonds: are de bt se curitie s de nom inate d in the national curre ncy of the issue rs, unde rwritte n by dom e stic bank s and sold into the dom e stic m ark e t. This will inlcude Sam urai issue s in the Japan table s. Kangaroo issue s in the Australian Table s. O ur global rank e ligiblity crite ria doe s not apply the re fore de als with shorte r te nors will be inlcude d. High Yield Bonds: are de bt se curitie s issue d by industrials, corporate s, sove re igns, bank s and financials which have noninve stm e nt grade issue r ratings at the tim e of launch from Standard & Poor's, Moody's or Fitch, or which are unrate d by the se age ncie s and fe lt to be cle arly of non-inve stm e nt grade quality. Investment Grade Bonds: are de bt se curitie s issue d by industrials, corporate s, bank s and financials which have inve stm e nt grade issue r ratings at the tim e of launch from Standard & Poor's, Moody's or Fitch. League Tables A ll Bonds: lists the top 10 Book runne rs (by volum e ) of all bonds (inte rnational, cross borde r and dom e stic ) in any de nom ination satisfying the De alogic global rank e ligibility crtie ria outline d be low. International Bonds : lists the top 10 Book runne rs (by volum e ) of all bonds satisfying the inte rnational crite ria. International Bonds (G3) : lists the top 10 Book runne rs (by volum e ) of all bonds satisfying the inte rnational crite ria and de nom inate d in YEN, EUR O or US$. High Yield: lists the top 10 Book runne rs (by volum e ) of all bonds satisfying the high yie ld crite ria, whe re the de al nationality (se e be low) is from Asia (e x cluding Japan). Investment Grade: lists the top 10 Book runne rs (by volum e ) of all bonds satisfying the inve stm e nt grade crite ria, whe re the de al nationality (se e be low) is from Asia (e x cluding Japan). Domestic Bonds: lists the Top 10 Book runne rs of all bonds satisfying the dom e stic bonds crite ria, including straight bonds, and asse t and m ortgage back e d se curitie s. The se table s aim to capture anything that is sold dom e stically into that m ark e t, and the re fore m ay include forie gn affiliate d issue rs. Howe ve r bonds raise d in the following curre ncie s A$, Ye n, HK$, S$, by fore ign issue rs and not spe cifically sold into Australia, Japan, Hong Kong and Singapore will be cove re d by the C urre ncy table s se ction. Currency Bonds: lists the Top 10 Book runne rs of all bonds raise d in that spe cific curre ncy by global issue rs. O ur global crite ria doe s not apply the re fore shorte r te nors are e ligible . http://ap.dealogic.com/2003leaguetables/bondcrit.html

1/3

2/17/2014

Dealogic DCM Criteria


crite ria doe s not apply the re fore shorte r te nors are e ligible .

Transaction Eligibility Fix e d and Floating R ate issue s, Me dium Te rm Note s (MTN), Short-te rm de bt, Se curitise d de als (asse t-back e d and m ortgage back e d se curitie s), non-conve rtible pre fe rre d stock , collate ralize d de bt obligations are e ligible for inclusion. Transactions from Sove re igns and Age ncie s will be include d unle ss othe rwise spe cifie d, Supranational issuance (e .g.: Asia De ve lopm e nt Bank ) will be e x clude d. Se lf-le d and Se lf-funde d de als will be include d unle ss othe rwise spe cifie d. Pre -IPO conve rtible s, whe re the com pany is not due to float within thre e ye ars are include d. R e -ope nings are rank e ligible and are subje ct to the sam e rank ing crite ria as the original offe ring. C lose d and ope n-e nd inve stm e nt funds are e ligible . C orporate bonds and MTNs m ust have a m inim um m aturity of 18 m onths to be e ligible for inclusion. O the r de bt se curitie s m ust have m inim um m aturity of 12 m onths.

Exclusions: For all re gional table s (Asia Pacific, AP e x Japan, Asia e x Japan) and all inte rnational table s (re gional and country spe cific)- corporate bonds m aturing le ss than 18 m onths afte r se ttle m e nt date are e x clude d. For othe r country spe cific table s, bonds with a one ye ar of m ore m aturity are include d. Maturity is de fine d as the le gal m aturity of the offe ring. De als with global proce e ds of le ss than US$1m n. Global proce e ds of a de al is calculate d by sum m ing the proce e ds of all rank e ligible tranche s. Tranche proce e ds are calculate d by m ultiplying the face value of the se curity by the offe r price . If the offe r price is not disclose d 100% is assum e d with the e x ce ption of ze ro coupon bonds which be com e rank ine ligible . Non-unde rwritte n de als are e x clude d. Be st e fforts de als as the y re late to MTNs are include d. Bond e x change offe rs whe re e x isting de bt is re place d by ne w de bt are not rank e ligible unle ss ne w m one y is raise d. If the ne w de bt offe re d e x ce e ds the de bt it re place s the n the diffe re nce of the proce e ds is rank e ligible . C e rtificate s of De posit, loan-style FR Ns, and m one y m ark e t transactions are e x clude d unle ss othe rwise spe cifie d. Auctions and non-unde rwritte n gove rnm e nt de bt are e x clude d. Ranking Methodology Nation classifications are base d on de al nationality. De al nationality re fle cts the nationality of the de al m andate , re gardle ss of issue r incorporation or, in som e circum stance s issue r he ad quarte rs. Se cure d de als are cate gorize d in te rm s of the nationality of the collate ral. Se curitie s issue d by e m e rging m ark e ts subsidiarie s of North Am e rican or W e ste rn Europe an pare nt com panie s which are vie we d in the m ark e t as e m e rging m ark e ts and price d as e m e rging m ark e ts are cate gorize d in te rm s of the nationality of the subsidiary rathe r than as North Am e rican or W e ste rn Europe an. Unse cure d and non-e m e rging m ark e ts de bt se curitie s are cate gorize d in te rm s of the busine ss nationality of the group he ad. Busine ss nationality is de fine d as the ce nte r of busine ss of a com pany, tak ing busine ss ope rations, re ve nue , he adquarte rs and incorporation into conside ration All am ounts are base d on global proce e ds (face value * offe r price ) in US$. In the e ve nt that one or m ore tranche s of a m ulti-tranche de al do not m e e t rank e ligibility qualifications those tranche s are e x clude d from the global proce e ds am ount. Proce e ds are apportione d am ong book runne rs on a tranche by tranche basis. De al count consolidate s all tranche s of a de al. Submission Guidelines Subm issions to De alogic can be se nt to the be low contact de tails with the following ite m s in re spe ct to e ach tranche . Issue r Nam e Pricing and Se ttle m e nt Date C urre ncy and Face value Te nor C oupon De tails O ffe r price Issue Type Unde rwrite rs C re dit ratings Spre ad to Be nchm ark Fe e de tails Use of proce e ds

http://ap.dealogic.com/2003leaguetables/bondcrit.html

2/3

2/17/2014

Dealogic DCM Criteria


Table s will be update d e ach we e k on Friday. De als m ust be re ce ive d by 10am on Friday for inclusion. Dealogic (Hong Kong) FAO : De bt C apital Mark e ts Te l: 852 2528 9111 Fax : 852 2529 4377 Em ail: hk info@de alogic.com Dealogic (Tokyo) FAO : De bt C apital Mark e ts Te l: 813 5157 1527 Fax : 813 5157 1528 Em ail: jpinfo@de alogic.com

Contact Dealogic: London: (+44) 20 7379 5650 New York: (+1 212) 577 4400 Tokyo: (+813) 5157 1527 Hong Kong: (+852) 2528 9111

http://ap.dealogic.com/2003leaguetables/bondcrit.html

3/3

You might also like