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FIG

Cheap high grade African Bank pays 8.125%

An attractive 8.125% yield for consumer lender African Bank’s five year bond drove orders to $1.75bn — but the bank kept the deal to $350m when it issued it on Tuesday night. The note, priced at par by Credit Suisse, Goldman Sachs, Rand Merchant Bank and Standard Chartered Bank, traded up to 100.75 on Wednesday morning — a tightening of 17bp on a spread basis.

  • 24 Feb 2012

"It’s a strategic priority for African Bank to access an international investor base," said Spencer Maclean, head of syndicate, west, at Standard Chartered Bank in London. "The issuer has a $2bn EMTN programme so it’s clear they will return to the market in a controlled fashion."

Price guidance had ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 31 Mar 2015
1 Natixis 4,610.22 27 6.53%
2 Barclays 3,906.47 18 5.54%
3 HSBC 3,842.96 19 5.45%
4 RBC Capital Markets 3,800.40 10 5.38%
5 UBS 3,519.23 20 4.99%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 30 Mar 2015
1 JPMorgan 27,818.82 116 7.32%
2 Citi 25,446.46 117 6.69%
3 Morgan Stanley 24,071.50 84 6.33%
4 Deutsche Bank 23,054.48 92 6.06%
5 Goldman Sachs 22,635.45 100 5.95%

Bookrunners of Dollar Denominated Covered Bond Above $1bn

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 31 Mar 2015
1 RBC Capital Markets 920.18 2 29.77%
2 UBS 590.25 1 19.10%
2 Goldman Sachs 590.25 1 19.10%
4 Westpac 329.93 1 10.68%
4 Citi 329.93 1 10.68%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 31 Mar 2015
1 Deutsche Bank 12,533.82 37 5.71%
2 Goldman Sachs 9,057.34 23 4.13%
3 Credit Agricole CIB 7,905.50 14 3.60%
4 SG Corporate & Investment Banking 6,880.09 17 3.14%
5 BNP Paribas 5,940.69 16 2.71%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 31 Mar 2015
1 Natixis 3,450.53 17 9.22%
2 BNP Paribas 3,068.59 11 8.20%
3 HSBC 2,958.98 12 7.91%
4 Credit Agricole CIB 2,443.07 11 6.53%
5 Commerzbank Group 2,092.48 9 5.59%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 30 Mar 2015
1 JPMorgan 265.05 336 7.24%
2 Goldman Sachs 263.19 258 7.19%
3 Morgan Stanley 253.54 376 6.93%
4 Citi 225.03 371 6.15%
5 Bank of America Merrill Lynch 182.57 338 4.99%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 31 Mar 2015
1 Credit Agricole CIB 4,674.91 3 14.34%
2 Deutsche Bank 4,494.09 10 13.78%
3 UBS 3,886.93 3 11.92%
4 HSBC 2,970.48 6 9.11%
5 BNP Paribas 2,253.28 6 6.91%