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
  • 23 Aug 2016
1 UBS 9,565.55 57 6.00%
2 HSBC 9,210.35 51 5.78%
3 Credit Agricole CIB 8,176.21 37 5.13%
4 Landesbank Baden-Wuerttemberg - LBBW 7,975.45 47 5.00%
5 Commerzbank Group 7,700.72 45 4.83%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 Aug 2016
1 JPMorgan 64,381.14 281 6.79%
2 Citi 58,699.72 316 6.19%
3 Goldman Sachs 53,627.92 267 5.66%
4 Morgan Stanley 53,248.59 234 5.62%
5 Bank of America Merrill Lynch 52,912.05 255 5.58%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Aug 2016
1 JPMorgan 51,749.84 204 10.87%
2 Citi 49,176.89 244 10.33%
3 Bank of America Merrill Lynch 43,396.00 216 9.11%
4 Wells Fargo Securities 38,705.31 184 8.13%
5 Morgan Stanley 38,523.94 176 8.09%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 Aug 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 5,306.88 20 6.33%
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
  • 23 Aug 2016
1 BNP Paribas 6,163.54 19 11.44%
2 HSBC 5,625.84 17 10.45%
3 UBS 5,562.70 20 10.33%
4 Barclays 3,189.25 8 5.92%
5 JPMorgan 2,909.54 15 5.40%