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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
  • 21 Jul 2015
1 Natixis 8,013.58 45 6.35%
2 HSBC 7,516.21 36 5.96%
3 RBC Capital Markets 7,308.96 23 5.79%
4 UBS 6,455.61 38 5.12%
5 BNP Paribas 6,374.32 27 5.05%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Jul 2015
1 JPMorgan 61,700.03 267 7.44%
2 Citi 57,162.57 286 6.90%
3 Goldman Sachs 51,784.22 214 6.25%
4 Morgan Stanley 48,061.03 212 5.80%
5 Bank of America Merrill Lynch 47,623.90 210 5.74%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 15,440.75 36 7.93%
2 Deutsche Bank 15,024.48 53 7.72%
3 UBS 13,015.99 28 6.69%
4 SG Corporate & Investment Banking 10,628.40 30 5.46%
5 BNP Paribas 9,545.15 31 4.91%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Jul 2015
1 Natixis 5,151.44 24 8.72%
2 BNP Paribas 4,824.09 18 8.16%
3 Credit Agricole CIB 3,485.21 15 5.90%
4 HSBC 3,409.93 15 5.77%
5 UBS 3,031.34 13 5.13%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 624.95 581 7.05%
2 JPMorgan 576.59 883 6.50%
3 Citi 526.92 880 5.94%
4 Bank of America Merrill Lynch 501.95 862 5.66%
5 Morgan Stanley 501.06 951 5.65%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 21 Jul 2015
1 Deutsche Bank 5,643.62 17 5.52%
2 UBS 5,331.98 9 5.22%
3 HSBC 5,053.63 10 4.95%
4 Credit Agricole CIB 4,884.74 6 4.78%
5 BNP Paribas 3,611.09 12 3.53%