Thomson Reuters Investment Banking Scorecard

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Global DCM activity totals $2.8 trillion, down 1% compared to YTD 2013

Asia Pacific and Europe M&A each up 92% compared to last year

European IPOs hit $31.1 billion so far in 2014, more than triple year-ago levels

Financials M&A activity totals $176.3 billion this year, up 80% from 2013

Consumer Staples ECM issuance down 55% ($8.8 billion) compared a year ago

• Global Government & Agency Debt totals $687.6 billion this year, up 4% from 2013

Merck's $3.7 billion offer for Idenix Pharmaceuticals pushed the level of worldwide deal making in the pharmaceutical sector to $154.9 billion, the strongest year-to-date period since records began in 1980 and more than four times the levels seen last year at this time. United States targets account for 77% of overall activity in the sector this year followed by the United Kingdom (11%) and Switzerland (4%). Goldman Sachs and Bank of America Merrill Lynch are nearly tied for first place for financial advisory work in the sector for year-to-date 2014

Analog Device's $2.4 billion offer for Hittite Microwave Corp ranks as the largest semiconductor deal so far this year and brings announced global semiconductor M&A to $12.1 billion, the strongest year-to-date period for deals in the sector since 2011

This week's $4.2 billion debt offering from Emirates Telecommunications Corp marks the largest investment grade corporate debt offering from a United Arab Emirates-based issuer on record and brings the volume of emerging markets corporate debt to $138.4 billion so far this year, a 27% decline compared to a year ago. Brazil, Mexico, India and the UAE account for 54% of total emerging markets corporate debt volume for year-to-date 2014. Financials, energy & power and telecom issuers make up nearly 80% of this year's activity.

A $1.8 billion follow-on offering from Mexico's Fibra Uno Administracion SA brings the volume of Latin America equity capital markets activity so far this year to $9.8 billion, a 48% decrease compared to year-to-date 2013. Telecommunications, real estate and financial issuers account for nearly all of the ECM activity in Latin America this year, which has originated from Brazil, Mexico, Chile and Argentina.

Source - Thomson Reuters

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