Unpredictable markets as buyers favour hard core

Core European FIG borrowers are increasingly being divided into two camps — the “soft core” and the “hard core”, said bankers on Wednesday. With secondary spreads widening even for banks from traditionally core jurisdictions such as France, buyers are picking up clips from strong names such as Svenska Handelsbanken and Nordea, while peripheral institutions suffer.

  • 23 Nov 2011

The iTraxx senior financials index was 332bp on Wednesday, 13bp wider on Tuesday’s close. Secondary flows remained low, making investors unwilling to put on positions in the last few weeks of the year.

“People are having increasing difficulties putting on risk before the year end, it’s difficult to move ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 9,196.65 41 6.03%
2 UniCredit 7,570.25 62 4.96%
3 Commerzbank Group 6,961.50 44 4.56%
4 BNP Paribas 6,833.59 30 4.48%
5 LBBW 6,799.87 38 4.46%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 86,402.71 348 7.39%
2 Bank of America Merrill Lynch 76,648.22 289 6.56%
3 Citi 74,063.12 448 6.33%
4 Goldman Sachs 71,639.28 392 6.13%
5 JPMorgan 69,536.04 335 5.95%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 63,244.76 346 10.46%
2 Bank of America Merrill Lynch 62,666.77 244 10.36%
3 Morgan Stanley 62,567.41 249 10.35%
4 JPMorgan 57,709.83 258 9.54%
5 Goldman Sachs 54,069.13 322 8.94%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 5,349.05 21 7.30%
2 LBBW 5,191.72 18 7.08%
3 BNP Paribas 4,566.36 14 6.23%
4 Credit Agricole CIB 4,553.92 17 6.21%
5 Commerzbank Group 4,242.73 17 5.79%

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
  • Today
1 Barclays 8,682.34 22 13.77%
2 HSBC 8,067.77 29 12.79%
3 BNP Paribas 4,343.93 23 6.89%
4 Credit Suisse 4,219.22 21 6.69%
5 Citi 3,992.43 32 6.33%