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  • April 17 2014
FIG

Secured funding swept up in LTRO frenzy

In a flurry of activity that offered another glimpse of the spare cash washing around the European banking sector after the ECB’s first Long Term Refinancing Operation (LTRO) in December, Spain’s CatalunyaCaixa and Banco Popular Español launched tender offers this week, buying back ABS, covered bonds and hybrids.

  • 03 Feb 2012
Capital-hungry banks have been keen to use LTRO money for discounted buybacks. But even well capitalised banks have tweaked their liquidity strategy to take best advantage of the operation, with an ABS buyback from Lloyds Banking Group, and big retained issues from Barclays, SNS Bank, and UniCredit — ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
1 UniCredit 6,762.93 43 0.00%
2 Natixis 6,519.33 24 0.00%
3 BNP Paribas 6,411.77 22 0.00%
4 Commerzbank Group 3,908.41 19 0.00%
5 UBS 3,835.74 22 0.00%

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 Deutsche Bank 11,967.71 33 7.68%
2 Goldman Sachs 11,680.11 33 7.49%
3 BNP Paribas 11,308.56 28 7.25%
4 SG Corporate & Investment Banking 10,021.99 35 6.43%
5 Credit Agricole CIB 8,536.95 25 5.48%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
1 BNP Paribas 5,691.31 17 11.49%
2 Natixis 4,198.16 13 8.48%
3 UniCredit 3,603.51 13 7.28%
4 Barclays 3,031.55 10 6.12%
5 HSBC 2,631.99 9 5.32%

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Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
1 HSBC 3,914.06 9 0.00%
2 BNP Paribas 2,683.11 7 0.00%
3 Bank of America Merrill Lynch 2,623.53 8 0.00%
4 SG Corporate & Investment Banking 2,416.45 7 0.00%
5 UBS 2,049.79 9 0.00%