Banco Popolare offers investors premium on capital buyback

Italy’s Banco Popolare is offering investors a small premium to market value in a buyback of up to €600m of tier one and tier two capital instruments. The bank is targeting five lower tier two securities and four tier one bonds, and has said future calls on the securities would be made on an economic basis.

  • 17 May 2013

It will buy back up to €600m of the bonds at prices of between 40 and 86 for the tier ones and 90.75 and 105.25 for the tier twos.

Analysts at BNP Paribas said these prices offered a premium to market value of around four points for the tier ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jul 2016
1 UBS 9,075.57 52 6.06%
2 HSBC 8,695.73 48 5.81%
3 Credit Agricole CIB 8,119.63 36 5.43%
4 Landesbank Baden-Wuerttemberg - LBBW 7,785.63 44 5.20%
5 BNP Paribas 7,513.16 35 5.02%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 11 Jul 2016
1 JPMorgan 50,311.72 231 6.52%
2 Citi 46,776.04 257 6.06%
3 HSBC 45,456.48 184 5.89%
4 Goldman Sachs 42,909.63 219 5.56%
5 Bank of America Merrill Lynch 42,214.19 204 5.47%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jul 2016
1 Citi 116,547.48 555 11.18%
2 JPMorgan 115,993.75 459 11.13%
3 Bank of America Merrill Lynch 103,425.02 462 9.92%
4 Goldman Sachs 82,924.68 450 7.96%
5 Morgan Stanley 81,589.64 391 7.83%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jul 2016
1 Credit Agricole CIB 7,016.13 25 8.65%
2 UBS 5,981.15 20 7.38%
3 BNP Paribas 5,603.49 21 6.91%
4 Landesbank Baden-Wuerttemberg - LBBW 5,306.88 20 6.55%
5 Commerzbank Group 4,528.16 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
  • 19 Jul 2016
1 HSBC 5,625.84 17 12.58%
2 BNP Paribas 5,033.74 15 11.26%
3 UBS 3,892.79 17 8.71%
4 Barclays 2,454.68 7 5.49%
5 Goldman Sachs 2,453.63 14 5.49%