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Project Finance:  2004 League Tables

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Global Lead Arrangers—Bank Loans (US$ millions)

 

 

 

2004

2004 Rank

Name

2003
Rank

Number
of Facilities

Amount
Underwritten

Percent
of Total

 

 

 

 

 

 

1

Citigroup

7

38

$6,414

5.5%

2

BNP Paribas

3

39

4,272

3.7

3

Credit Suisse First   Boston

25

11

4,178

3.6

4

Royal Bank of Scotland

2

32

3,785

3.3

5

Société Générale

5

29

3,529

3.0

6

Sumitomo Mitsui

4

31

3,475

3.0

7

Bank of Tokyo Mitsubishi 

8

35

3,456

3.0

8

HSBC

12

34

3,391

2.9

9

Korea Development Bank

9

6

3,325

2.9

10

ABN AMRO

15

28

3,155

2.7

 

Other

 

    189

  77,459

   66.4

 

Total Market

 

472

$116,439

100.0%

 

 

 

 

 

 

Lead Managers—Project Bonds (US$ millions)

 

 

 

2004

2004 Rank

Name

2003
Rank

Number
of Issues

Amount
Underwritten

Percent
of Total

 

 

 

 

 

 

1

Lehman Brothers

 3

9

$4,548

15.9%

2

Citigroup

 1

18

4,530

15.8

3

Goldman Sachs

17

2

3,453

12.1

4

Société Générale

8

2

2,019

7.0

5

HSBC

20

1

1,667

5.8

6

Credit Suisse First Boston

2

3

1,451

5.1

7

Calyon

15

4

1,428

5.0

8

Deutsche Bank

11

5

1,203

4.2

9

JP Morgan

 25

2

1,128

3.9

10

Royal Bank of Canada

14

2

748

2.6

 

Other

 

    38

      6,472

    22.6

 

Total Market

 

86

$28,647

100.0%

 

 

 

 

 

 

 

Global Advisory Mandates

 

 

2004

 

2003

2004
Rank

Name

Number  of
Mandates

Percent

of 

Total

 

Number  of
Mandates

Percent

of 

Total

 

 

 

 

 

 

 

1

PricewaterhouseCoopers

111

16.4%

 

117

17.3%

2

Ernst & Young

102

15.1

 

143

21.1

3

KPMG

71

10.5

 

46

6.8

4

Macquarie

59

8.7

 

51

7.5

5

IXIS CIB

23

3.4

 

15

2.2

6

ABN AMRO

23

3.4

 

27

4.0

7

HSBC

22

3.3

 

14

2.1

8

Royal Bank of Canada

22

3.3

 

12

1.8

9

Dexia

21

3.1

 

24

3.5

10

Grant Thornton

20

3.0

 

23

3.4

 

Other

 

    29.8

 

    206

   30.3

 

Total for all firms

676

100.0%

 

678

100.0%

 

 

 

 

 

 

 

 

Source:   Adapted from ProjectFinance International (IFR Publishing,     London, United Kingdom) 1/21/04 and 1/26/05.

Global Project Finance Law Firms: 1998-2005

 

Rank

Firm Name

Location

Number of Financings Closed

 

 

 

 

1

Allen & Overy

U.K.

80

2

Clifford Chance

U.K.

74

3

Millbank Tweed

U.S.

50

 

Shearman & Sterling

U.K.

48

5

Latham & Watkins

U.S.

46

6

Linklaters

Global

44

7

Skadden Arps

U.S.

33

8

White & Case

U.K.

32

9

Allens Arthur Robinson

Australia

23

10

Freehills

Australia

18

 

 

 

 

 

Global Project Finance Law Firms: Sept. 2004 to Sept. 2005

 

Rank

Firm Name

Location

Number of Financings Closed

 

 

 

 

1

Clifford Chance

U.K.

18

2

Allen & Overy

U.K.

15

3

Millbank Tweed

U.S.

10

4

White & Case

U.K.

10

5

Latham & Watkins

U.S.

8

6

Linklaters

Global

8

7

Shearman & Sterling

U.K.

8

8

Norton Rose

U.K.

    5

9

Skadden Arps

U.S.

5

10

Lee & Ko

Korea

4

 

 

 

 

 

Source:   Adapted from ProjectFinance International, 11/16/05.

NoteIncludes only deals over $500 million and counts only the lead advisor.

 

If you have any suggestions for additional content, please contact Professor Benjamin C. Esty.
Last updated January 5, 2006

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