Corporate America sold nearly $75 billion of stock in May. Here's what unleashed the record-setting equity resurgence — and a huge payday for Wall Street banks.
There've been more than a dozen stock deals of at least $1 billion, according to Dealogic.
In general, companies have been chasing liquidity and stockpiling capital to ensure they can survive significant revenue hits over the next 12 to 18 months. But bankers say there are signs of investor fatigue on that front, and the environment for selling equity is a lot more hospitable than it was a couple months ago.
"For the moment, I think a lot of the issuance has taken place and has now been replaced by the equity capital markets," Leon Kalvaria, chairman of the Institutional Clients Group at Citi, said at the deals panel.We mapped out Citi's 40 most powerful investment bankers. Here's our exclusive org chart.
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