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 %
  • Last updated
  • 27 Sep 2016
1 UBS 10,781.29 65 6.14%
2 HSBC 10,181.15 55 5.80%
3 BNP Paribas 9,456.72 44 5.39%
4 Credit Agricole CIB 8,532.32 39 4.86%
5 Commerzbank Group 8,359.55 49 4.76%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Sep 2016
1 JPMorgan 79,179.90 343 7.10%
2 Citi 68,169.73 397 6.11%
3 Morgan Stanley 62,488.64 285 5.60%
4 Goldman Sachs 60,633.80 315 5.44%
5 HSBC 60,235.91 255 5.40%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Sep 2016
1 JPMorgan 62,253.52 249 11.08%
2 Citi 57,237.68 309 10.19%
3 Bank of America Merrill Lynch 48,802.48 255 8.69%
4 Morgan Stanley 45,833.82 218 8.16%
5 Goldman Sachs 42,967.95 245 7.65%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Sep 2016
1 Credit Agricole CIB 7,372.24 27 7.88%
2 BNP Paribas 7,155.53 27 7.65%
3 UBS 6,612.03 23 7.07%
4 LBBW 5,491.10 21 5.87%
5 Commerzbank Group 5,432.06 23 5.81%

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
  • 27 Sep 2016
1 BNP Paribas 6,327.54 21 9.66%
2 HSBC 6,275.95 20 9.58%
3 UBS 6,221.18 24 9.49%
4 Barclays 5,430.32 15 8.29%
5 Citi 4,250.71 20 6.49%