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 ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 11,393.91 58 6.10%
2 UniCredit 9,392.63 73 5.03%
3 BNP Paribas 8,680.07 42 4.65%
4 Commerzbank Group 8,017.52 51 4.29%
5 LBBW 7,853.79 46 4.21%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 101,227.56 407 7.05%
2 Citi 93,364.44 533 6.50%
3 Goldman Sachs 92,877.06 482 6.47%
4 Bank of America Merrill Lynch 88,108.47 363 6.14%
5 JPMorgan 83,098.88 394 5.79%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 80,666.11 411 11.00%
2 Goldman Sachs 71,709.95 406 9.78%
3 Bank of America Merrill Lynch 71,286.77 308 9.72%
4 Morgan Stanley 70,689.24 298 9.64%
5 JPMorgan 69,672.34 305 9.50%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 5,543.24 22 6.41%
2 LBBW 5,487.17 19 6.34%
3 BNP Paribas 5,467.55 18 6.32%
4 Credit Agricole CIB 5,313.69 20 6.14%
5 Commerzbank Group 4,830.70 19 5.59%

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
  • Today
1 Barclays 9,461.63 27 13.12%
2 HSBC 8,882.01 36 12.32%
3 BNP Paribas 5,367.46 26 7.44%
4 Citi 4,542.03 36 6.30%
5 Credit Suisse 4,325.15 22 6.00%