Capital Markets Activity From US Banks Plummets In June

Tuesday 19 July 2022 at 16:09
Tuesday 19 July 2022 at 16:09

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The overall total value of capital markets issuance from U.S. banks plummeted in June despite month-over-month increases from subordinated debt offerings along with preferred and common equity.

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Capital raised by U.S. banks in June fell to $6.08 billion, a 53.2% decline month over month and 27.9% decline year over year, according to a new data analysis from S&P Global Market Intelligence. The drop was driven by a reduction in the value of senior debt issuance, which fell 79.1% month over month and 53.8% year over year to $2.62 billion, and was the lowest total in a calendar month since November 2021.

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Q2 2022 hedge fund letters, conferences and more

Corsair Capital Slumps 19.8% On SPAC Losses [Exclusive]
invest

Corsair Capital lost 11.7% during the second quarter of 2022 bringing its year-to-date loss to 19.8% net, according to a copy of the firm’s half-year report, which ValueWalk has been able to review. Meanwhile, the Corsair Select fund lost 20.9% net in the second quarter and 36.9% in the first half overall. In comparison, for Read More

Key highlights from the analysis include:

  • June marked the seventh straight month in which senior debt generated the highest total value, and it was followed by subordinated debt offerings at $1.38 billion, marking the first month since August 2021 that the total cleared the $1 billion threshold.
  • Preferred equity and common equity capital raises saw drastic month-over-month increases in June. Preferred equity jumped to $1.26 billion in June from $212.1 million in May, while common equity increased month over month to $818.9 million from $115.66 million.
  • Preferred equity declined on a year-over-year basis, falling from $1.49 billion in June 2021. Common equity did increase on a year-over-year basis, from $75.77 million in June 2021.
  • Largest issuers among U.S. public banks: JPMorgan Chase & Co (NYSE:JPM) raised the most in June owing to two senior debt offerings on June 7 totaling $2.5 billion. PNC Financial Services Group Inc (NYSE:PNC) raised the second most among public banks with its $850 million subordinated debt offering.

Capital Markets

Capital Markets

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Anna Peel is a professional writer. In the past four years,
she has written for many websites including BSC Kids, Wasabi Media
Group, Boomtron, and many others. She currently live in Savannah,
Georgia and occasionally blogs about fashion during her free time.

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