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  • April 17 2014
FIG

BNZ maturity switch hits investor sweet spot

Bank of New Zealand priced a €500m three year deal this week, only two weeks after it was forced to postpone a five year trade in the same currency. The shorter maturity and capped deal size yielded a far more positive result, with over 100 accounts contributing to an order book that was three times covered.

  • 03 Feb 2012
"If you read the market, it was obvious there was demand at the short end and the issuer was flexible," said a syndicate lead. Barclays, Nationwide and National Australia Bank used a three year floating format to raise sterling funding in January, but until BNZ’s trade there had ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
1 UniCredit 6,555.40 42 8.32%
2 BNP Paribas 6,411.77 22 8.14%
3 Natixis 6,156.38 23 7.81%
4 UBS 3,835.74 22 4.87%
5 Commerzbank Group 3,770.47 18 4.79%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
1 JPMorgan 38,454.61 132 8.58%
2 Bank of America Merrill Lynch 38,426.95 121 8.57%
3 Goldman Sachs 33,969.60 127 7.58%
4 Deutsche Bank 27,934.61 98 6.23%
5 Citi 25,466.21 117 5.68%

Bookrunners of Dollar Denominated Covered Bond Above $1bn

Rank Lead Manager Amount €m No of issues Share %
1 RBC Capital Markets 2,861.24 9 19.87%
2 Barclays 2,166.13 7 15.04%
3 JPMorgan 1,326.85 5 9.21%
4 Bank of America Merrill Lynch 1,113.63 4 7.73%
5 Goldman Sachs 857.51 3 5.95%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
1 Goldman Sachs 11,541.26 32 7.67%
2 Deutsche Bank 11,109.00 31 7.38%
3 BNP Paribas 10,602.50 26 7.04%
4 SG Corporate & Investment Banking 9,791.48 34 6.51%
5 Morgan Stanley 8,515.16 22 5.66%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
1 BNP Paribas 5,691.31 17 11.74%
2 Natixis 4,198.16 13 8.66%
3 UniCredit 3,395.99 12 7.00%
4 Barclays 3,031.55 10 6.25%
5 HSBC 2,631.99 9 5.43%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
1 JPMorgan 418.21 431 9.43%
2 Bank of America Merrill Lynch 353.19 422 7.96%
3 Goldman Sachs 306.78 341 6.92%
4 Citi 287.06 417 6.47%
5 Barclays 260.45 382 5.87%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
1 HSBC 3,548.38 7 10.98%
2 Bank of America Merrill Lynch 2,623.53 8 8.12%
3 BNP Paribas 2,543.92 6 7.87%
4 SG Corporate & Investment Banking 2,416.45 7 7.48%
5 UBS 2,049.79 9 6.35%