Dexia buyback ‘distressed exchange’: S&P

Standard & Poor’s said on Thursday that Dexia Bank Belgium’s cash tender — which struck market participants this week with its low 25% buyback price — is a distressed exchange.

  • 24 Feb 2012

In the exercise led by UBS, the bank is offering to buy back a €500m tier one. The cash tender had been planned in Dexia’s restructuring plan signed last year, when the Belgian government bought the bank’s operations in that country.

"We consider the offer to be a ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 May 2016
1 UBS 7,793.76 40 3.19%
2 Credit Agricole CIB 7,488.77 32 3.07%
3 Landesbank Baden-Wuerttemberg - LBBW 7,240.75 39 2.96%
4 HSBC 6,619.34 35 2.71%
5 BNP Paribas 6,523.33 29 2.67%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 May 2016
1 JPMorgan 39,659.71 180 6.61%
2 Goldman Sachs 38,742.30 164 6.45%
3 Citi 37,218.70 179 6.20%
4 HSBC 35,655.89 132 5.94%
5 Morgan Stanley 35,382.64 130 5.89%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 May 2016
1 Goldman Sachs 14,248.87 43 4.75%
2 BNP Paribas 10,916.04 34 3.64%
3 HSBC 10,011.45 40 3.34%
4 SG Corporate & Investment Banking 8,827.87 31 2.94%
5 Credit Suisse 8,704.79 21 2.90%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 May 2016
1 Credit Agricole CIB 6,607.09 23 9.15%
2 UBS 5,506.43 18 7.63%
3 Landesbank Baden-Wuerttemberg - LBBW 4,972.85 18 6.89%
4 BNP Paribas 4,893.74 17 6.78%
5 Deutsche Bank 3,894.43 13 5.39%

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
  • 24 May 2016
1 BNP Paribas 4,111.15 7 6.60%
2 UBS 3,176.99 11 5.10%
3 Barclays 2,454.68 7 3.94%
4 HSBC 2,293.14 11 3.68%
5 Deutsche Bank 1,725.52 7 2.77%