ING grabs first holdco T2 in nervous FIG market

ING successfully sold its first holding company level tier two since it changed its point of resolution last year, though new issue premiums have been rising and order books shrinking as European election fears set in.

  • By Tyler Davies
  • 08 Feb 2017

Stable credit spreads and rising equity values on Wednesday did not necessarily reveal the extent to which market participants have become concerned about populist politicians gaining footholds in European countries such as France and the Netherlands.

“The market is not as good as you might think,” said ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Jun 2017
1 HSBC 18,859.47 96 5.78%
2 UBS 17,096.63 103 5.24%
3 BNP Paribas 16,125.84 71 4.94%
4 Commerzbank Group 15,763.40 95 4.83%
5 LBBW 15,321.72 85 4.69%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jun 2017
1 Morgan Stanley 58,230.82 220 7.33%
2 Goldman Sachs 55,991.98 263 7.05%
3 Bank of America Merrill Lynch 50,362.34 188 6.34%
4 JPMorgan 49,807.13 231 6.27%
5 Citi 48,627.79 289 6.12%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Jun 2017
1 Citi 43,195.68 237 4.98%
2 Goldman Sachs 42,898.99 218 4.94%
3 Morgan Stanley 42,703.73 163 4.92%
4 JPMorgan 42,140.63 182 4.85%
5 Bank of America Merrill Lynch 39,858.64 163 4.59%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Jun 2017
1 SG Corporate & Investment Banking 4,741.46 19 7.08%
2 BNP Paribas 4,566.36 14 6.82%
3 LBBW 4,563.62 16 6.82%
4 Credit Agricole CIB 4,139.24 16 6.18%
5 Commerzbank Group 4,066.97 16 6.07%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 27 Jun 2017
1 HSBC 6,172.32 23
2 Barclays 5,139.18 16
3 Credit Suisse 3,658.73 16
4 BNP Paribas 3,205.75 15
5 Citi 3,042.28 24