Commerz targets hybrid capital in equity swap

Commerzbank this week launched a debt for equity swap that could generate over €1bn of core tier one capital, in what one investor called a sensible liability management approach amid a rally in prices of hybrid securities.

  • 24 Feb 2012
The German bank announced the exchange on Thursday after releasing its 2011 full year results. Some €3.2bn equivalent of tier ones and tier twos are eligible for the exchange, but the final amount is capped by the value and number of shares the bank can issue from authorised ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Jul 2016
1 HSBC 9,097.35 50 2.97%
2 UBS 9,075.57 52 2.96%
3 Credit Agricole CIB 8,176.21 37 2.67%
4 Landesbank Baden-Wuerttemberg - LBBW 7,963.90 45 2.60%
5 Commerzbank Group 7,644.36 44 2.49%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jul 2016
1 JPMorgan 57,241.61 243 6.71%
2 Citi 51,142.49 279 6.00%
3 Goldman Sachs 50,623.07 232 5.94%
4 Morgan Stanley 47,985.75 206 5.63%
5 HSBC 46,813.97 197 5.49%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Jul 2016
1 JPMorgan 45,037.97 168 10.75%
2 Citi 41,789.37 210 9.98%
3 Bank of America Merrill Lynch 39,178.97 184 9.35%
4 Wells Fargo Securities 35,649.15 155 8.51%
5 Morgan Stanley 35,078.35 155 8.38%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Jul 2016
1 Credit Agricole CIB 7,016.13 25 8.37%
2 UBS 5,981.15 20 7.13%
3 BNP Paribas 5,603.49 21 6.68%
4 Landesbank Baden-Wuerttemberg - LBBW 5,485.15 21 6.54%
5 Commerzbank Group 4,873.19 20 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
  • 26 Jul 2016
1 HSBC 5,625.84 17 12.59%
2 BNP Paribas 5,033.74 15 11.26%
3 UBS 3,892.79 17 8.71%
4 Barclays 2,454.68 7 5.49%
5 Goldman Sachs 2,453.63 14 5.49%