(All figures in U.S. dollars unless noted)
* CIBC jumps to first place from sixth in 2010
* BMO ranks second, followed by RBC and TD
* Top legal advisor on M&A deals was Blake Cassels & Graydon
* RBC leads debt issuance, followed by TD
TORONTO, Jan 4 CIBC (CM.TO) emerged as
Canada's top financial adviser on mergers and acquisitions in
2011 after bringing its expertise to some of the biggest mining
deals of the year, according to data released on Thursday.
CIBC World Markets, the capital markets arm of Canadian
Imperial Bank of Commerce, advised on 38 deals worth $35.6
billion in the year, including serving as adviser to Equinox
Minerals on its C$7.3 billion ($7.2 billion) sale to Barrick
All told, CIBC took a 22.7 percent market share in Canada, a
hub for resource-related mergers and acquisitions, the data from
Thomson Reuters showed.
BMO Capital markets, the investment banking arm of the Bank
of Montreal (BMO.TO), came in a close second, slipping from
first place in 2010. Last year, it advised on 58 deals worth
C$34.7 billion, garnering a 22.2 percent share.
Canada's two largest lenders, the Royal Bank of Canada
(RY.TO) and Toronto Dominion Bank (TD.TO), came third and
fourth, with 17.7 percent and 17 percent of the market
CIBC's first-place finish followed its sixth-place ranking
in 2010, when it advised on 53 deals worth $28.5 billion. In
2010 it took a 15.8 percent share of Canadian dealmaking.
One of BMO's top deals of the year was the roughly C$3
billion takeover of Toronto-listed Quadra FNX Mining QUX.TO by
Europe's No. 2 copper producer, KGHM KGHM.WA, announced in
The top-ranked legal advisers in Canadian dealmaking for the
year were the law firms Blake Cassels & Graydon, Osler Hoskin &
Harcourt LLP and Torys.
DEBT AND EQUITY
Canadian debt issuance in 2011, excluding self-funded
transactions, reached C$159.6 billion from 410 deals, a decrease
of 3.4 percent from a year earlier.
League table leaders in the category were RBC Capital
Markets, with a 23.5 percent market share, TD Securities, with
18.3 percent and CIBC World Markets with 17.7 percent.
The number of deals per bookrunner were 120, 92 and 148,
Data showed Canadian equity and equity-related issuance
totaled C$32.2 billion from 565 issues in 2011, down 11.5
percent from total proceeds from 2010.
The energy and power sector was the most active, with a 42.8
percent of market share, followed by materials and real estate.
Top bookrunners for Canadian equity and equity-related deals
were TD, RBC and BMO, followed by CIBC and Scotia Capital, the
investment banking arm of the Bank of Nova Scotia (BNS.TO).
The preferred share market was led by RBC, followed by
Scotia and TD.
For initial public offerings, a market which nearly ground
to a halt at the end of 2011, the lead bookrunner was RBC, which
improved on a fourth-place ranking for 2010.
TD jumped to second from fifth place and Scotia Capital
jumped to third place from a 12th-place ranking in the year ago
Fourth, fifth and sixth place in IPOs went to BMO, JP Morgan
($1 = 1.0145 Canadian dollars)
(Reporting By Pav Jordan; Editing by Frank McGurty)
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