HSBC has knocked JP Morgan off the top spot in the Middle East’s debt capital market rankings, after a year in which a few large bond sales have had a big impact at the top of the region’s bookrunner league tables.

HSBC ranks first in DCM bookrunner league tables for the year-to-date, according to Dealogic. The bank has worked on nine bond issues worth a combined $2.9bn (€2.2bn) so far this year. Fixed-income giants Barclays Capital and Deutsche bank are ranked second and third.