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LM back in spotlight with Lloyds, Bank of Italy moves

Bank liability management is set for a second wind as issuers continue launching deals. Lloyds TSB Bank, Banco Popular Español and Catalunya Banc became the latest on Thursday — and after the Bank of Italy loosened its stance on buybacks and exchanges.

  • 03 Feb 2012
Lloyds TSB Bank announced on Thursday morning an any-or-all exchange offer on a €415m tier one that was issued by HBOS in 1999. It will switch the paper at 66% of par into a new 12 year non-call seven lower tier two bond. EuroWeek understands the deal was ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 28 Jul 2015
1 HSBC 8,630.49 41 6.45%
2 Natixis 8,446.58 47 6.32%
3 RBC Capital Markets 7,558.96 24 5.65%
4 UBS 6,942.22 40 5.19%
5 BNP Paribas 6,916.55 29 5.17%

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
  • 28 Jul 2015
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
  • 28 Jul 2015
1 Natixis 5,584.44 26 8.66%
2 BNP Paribas 5,093.51 19 7.90%
3 HSBC 4,165.96 18 6.46%
4 Credit Agricole CIB 3,701.66 16 5.74%
5 UBS 3,517.95 15 5.45%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Jul 2015
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
  • 28 Jul 2015
1 Deutsche Bank 5,658.62 18 10.63%
2 UBS 5,456.98 10 10.25%
3 HSBC 5,068.63 11 9.52%
4 Credit Agricole CIB 4,884.74 6 9.18%
5 JPMorgan 3,766.09 19 7.08%