FIG

BNPP rewarded after digging in over Fortis Cashes tender

BNP Paribas held firm on Friday amid a bondholder rebellion as investors spurned a cash tender offer it made earlier last week for €3bn of Fortis Bank convertible and hybrid equity-linked securities (Cashes). And when it announced an acceptance rate of 63% on Tuesday, it belied last week’s protest.

  • 03 Feb 2012

The deal was supposed to unwind the links between BNP Paribas and Fortis Bank, and Ageas, the insurer carved out of Fortis in its 2009 restructuring.

BNP Paribas offered a cash price of 45.0-47.5 for the bonds, a premium to the pre-offer trading level at the 38.0 mark, ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 Feb 2016
1 UBS 2,861.74 12 8.54%
2 Credit Agricole CIB 2,291.12 11 6.83%
3 SG Corporate & Investment Banking 2,180.50 10 6.50%
4 UniCredit 1,908.56 11 5.69%
5 BNP Paribas 1,868.96 7 5.57%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 01 Feb 2016
1 Citi 8,537.07 19 7.63%
2 Morgan Stanley 7,998.36 16 7.15%
3 Barclays 7,036.26 18 6.29%
4 Bank of America Merrill Lynch 6,561.48 24 5.86%
5 Wells Fargo Securities 5,886.75 8 5.26%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 Feb 2016
1 Natixis 3,624.88 6 13.56%
2 Goldman Sachs 2,691.49 11 10.07%
3 Credit Agricole CIB 2,296.11 4 8.59%
4 BNP Paribas 2,100.95 3 7.86%
5 Barclays 1,492.57 9 5.58%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 Feb 2016
1 UBS 2,718.78 9 10.53%
2 SG Corporate & Investment Banking 1,991.94 8 7.72%
3 Credit Agricole CIB 1,965.27 8 7.61%
4 BNP Paribas 1,744.39 6 6.76%
5 UniCredit 1,649.41 7 6.39%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jan 2016
1 Morgan Stanley 86.45 62 10.70%
2 Guggenheim Partners LLC 54.00 5 6.68%
3 Barclays 36.13 56 4.47%
4 Citi 35.54 72 4.40%
5 JPMorgan 35.26 80 4.36%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 02 Feb 2016
1 Credit Agricole CIB 1,146.47 1 11.11%
2 HSBC 775.22 3 7.51%
3 Intesa Sanpaolo SpA 439.10 2 4.26%
3 Deutsche Bank 439.10 2 4.26%
3 Bank of America Merrill Lynch 439.10 2 4.26%