10 years after the fall of Lehman Brothers, GlobalCapital looks at what has changed, what has stayed the same, and what had nothing at all to do with the collapse of Lehman. We've also asked market participants to share some of their thoughts and reminiscences about the most fateful day for the financial industry.
Below, you can find some of the coverage at the time, from our predecessor publications including EuroWeek, Asiamoney and Securitization Intelligence. We got plenty wrong in the days beforehand, and indeed afterwards, but it serves as a reminder of how the market felt for those feverish days.
How we see things now
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‘Have you forgotten your brothers?’
Those at Lehman Brothers on Monday, September 15, 2008 will remember the moment the lines between the London and New York offices went dead.
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September 15, 2008: the day markets changed
Traders, bankers, lawyers, brokers tell their stories of what happened when Lehman Brothers went down, how it ruined some businesses and created room for others, and how it has changed financial markets — for better and worse.
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Endless upheaval: life after Lehman
In their different ways, Bank of America Merrill Lynch, Nomura and Barclays have come to define the successes and challenges that have shaped banking in the past decade.
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10 things that changed in 10 years that had nothing to do with Lehman
Imagining capital markets and investment banking in 2018 without the global financial crisis is a big leap. The chaos and turmoil of 2008 deeply scarred traders, bankers and regulators and defined the intellectual imperatives for the changes that followed — the wholesale revamp of prudential and markets regulation, the bailouts, the reorganisations, the new monetary tools and new ways of seeing the world. But the past 10 years haven’t all been about the crisis.
How we saw things then
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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SNCF SA EUR1.5bn 1% Jan 61
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Spain EUR10bn 0.1% Apr 31
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CEB EUR1bn 0% Jan 31
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World Bank EUR2bn 0.2% Jan 61
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NIB USD1.25bn 0.5% Jan 26
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EFSF EUR3bn 0% Jan 31, EFSF EUR2bn 0.05% Jan 52
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KfW USD5bn 0.625% Jan 26
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LBBW EUR750m 0.375% Feb 31 bail-in senior social
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UniCredit EUR1bn 0.325% Jan 26 / EUR1bn 0.85% Jan 2031
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Credit Suisse Group EUR1.5bn 0.625% Jan 33 / €1.5bn FRN Jan 26
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Banco BPM EUR400m 6.5% PNC5 AT1
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IADB USD4bn 1.125% Jan 31 sustainable development bond
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Italy EUR10bn 0.95% Mar 37
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KfW GBP1bn 0.125% Dec 26
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Land NRW EUR2bn 0.95% Jan 21
All International Bonds
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | JPMorgan | 28.16 | 118 | 8.09% |
2 | Citi | 27.35 | 87 | 7.86% |
3 | BofA Securities | 20.32 | 74 | 5.84% |
4 | BNP Paribas | 19.76 | 67 | 5.68% |
5 | HSBC | 19.56 | 72 | 5.62% |
Bookrunners of All Syndicated Loans EMEA
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | BNP Paribas | 60.87 | 123 | 14.06% |
2 | Credit Agricole CIB | 28.59 | 93 | 6.60% |
3 | Santander | 25.41 | 90 | 5.87% |
4 | JPMorgan | 23.88 | 61 | 5.52% |
5 | UniCredit | 21.51 | 103 | 4.97% |
Bookrunners of all EMEA ECM Issuance
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | Morgan Stanley | 0.94 | 4 | 13.47% |
2 | Goldman Sachs | 0.78 | 5 | 11.09% |
3 | Credit Suisse | 0.67 | 3 | 9.64% |
4 | HSBC | 0.61 | 3 | 8.77% |
5 | BofA Securities | 0.61 | 2 | 8.70% |