Quiet primary belies strong conditions in FIG

Healthy secondary movement and successful new deals from Deutsche Bank and a second tier Italian name suggest investors are hungry for more FIG paper, though the market has been quiet this week.

  • By Bill Thornhill, David Bell, Tyler Davies
  • 15 Feb 2017

Syndicate bankers expressed surprise that the FIG primary market has been “undersupplied” this week, as more financial institutions return from their blackout periods following full year results.

But the fears about European political risks fuelling last week’s volatility appear to have subsided, suggesting volumes should start to ...

Please take a trial or subscribe to access this content.

Contact Mark Goodes to discuss your access: mark.goodes@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Feb 2017
1 HSBC 3,457.35 14 6.94%
2 Commerzbank Group 3,383.90 18 6.79%
3 SG Corporate & Investment Banking 3,124.37 12 6.27%
4 LBBW 2,926.97 13 5.88%
5 Credit Agricole CIB 2,712.14 12 5.44%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Feb 2017
1 Morgan Stanley 22,902.35 47 9.79%
2 Goldman Sachs 19,979.12 63 8.54%
3 Bank of America Merrill Lynch 19,349.44 40 8.27%
4 JPMorgan 14,028.73 51 6.00%
5 Citi 13,340.58 58 5.70%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Feb 2017
1 Morgan Stanley 19,148.59 31 13.10%
2 Goldman Sachs 17,229.26 50 11.79%
3 Bank of America Merrill Lynch 12,479.68 27 8.54%
4 JPMorgan 11,287.70 33 7.72%
5 Citi 11,280.58 39 7.72%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Feb 2017
1 SG Corporate & Investment Banking 2,728.11 10 5.02%
2 LBBW 2,154.63 7 3.97%
3 Commerzbank Group 2,105.32 7 3.88%
4 Credit Agricole CIB 1,987.58 8 3.66%
5 HSBC 1,572.51 5 2.90%

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
  • 21 Feb 2017
1 Credit Suisse 2,309.08 6 7.45%
2 Bank of America Merrill Lynch 1,499.19 8 4.84%
3 JPMorgan 1,236.52 7 3.99%
4 HSBC 1,133.72 7 3.66%
5 Credit Agricole CIB 1,034.32 6 3.34%