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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 %
  • Last updated
  • Today
1 HSBC 9,314.12 43 6.64%
2 Natixis 8,446.58 47 6.02%
3 RBC Capital Markets 7,558.96 24 5.39%
4 UBS 7,286.00 42 5.19%
5 BNP Paribas 6,916.55 29 4.93%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 Aug 2015
1 JPMorgan 158,800.98 675 6.91%
2 Bank of America Merrill Lynch 148,472.11 588 6.46%
3 Citi 145,308.10 730 6.32%
4 Goldman Sachs 137,495.10 608 5.98%
5 Morgan Stanley 136,469.95 674 5.94%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 15,523.62 37 7.84%
2 Deutsche Bank 15,417.74 56 7.78%
3 UBS 13,015.99 28 6.57%
4 SG Corporate & Investment Banking 10,974.14 31 5.54%
5 BNP Paribas 9,628.01 32 4.86%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,584.44 26 8.17%
2 BNP Paribas 5,093.51 19 7.45%
3 HSBC 4,849.58 20 7.10%
4 Credit Agricole CIB 3,701.66 16 5.42%
5 Commerzbank Group 3,664.84 17 5.36%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 Aug 2015
1 Goldman Sachs 637.84 602 6.97%
2 JPMorgan 599.47 905 6.55%
3 Citi 558.64 904 6.11%
4 Morgan Stanley 523.17 984 5.72%
5 Bank of America Merrill Lynch 521.99 897 5.71%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 5,818.48 20 10.09%
2 UBS 5,456.98 10 9.46%
3 HSBC 5,228.49 13 9.07%
4 Credit Agricole CIB 4,884.74 6 8.47%
5 JPMorgan 3,841.09 20 6.66%