Grand refinancing talks get real

Noteholders in the German Residential Asset Note Distributor (GRAND) CMBS has appointed Rothschild as an adviser to discuss possible refinancing options. Grand is the largest CMBS in Europe — a Eu5.82bn deal secured on German multi-family units owned by Deutsche Annington.

  • 24 Jun 2011

The noteholders claim to speak for over 20% of the notes, with BayernLB, LBBW, ING, M&G, and Pimco involved in the announcement on Tuesday, and others, including Standard Life, have joined recently.

The borrower held a conference call on Wednesday, at the noteholder group’s instigation, but so far noteholders ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 6,375.47 26 6.20%
2 UniCredit 5,399.24 41 5.25%
3 LBBW 5,318.25 24 5.17%
4 Commerzbank Group 5,219.76 31 5.07%
5 BNP Paribas 5,158.04 19 5.01%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Morgan Stanley 139,173.11 554 6.60%
2 JPMorgan 135,505.56 612 6.43%
3 Citi 127,910.15 757 6.07%
4 Goldman Sachs 125,520.43 675 5.95%
5 Bank of America Merrill Lynch 119,876.60 536 5.69%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Apr 2017
1 JPMorgan 104,210.95 417 10.23%
2 Citi 99,111.89 557 9.73%
3 Bank of America Merrill Lynch 94,929.57 429 9.32%
4 Morgan Stanley 89,025.14 390 8.74%
5 Goldman Sachs 85,770.72 496 8.42%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 LBBW 4,341.11 15 7.68%
2 BNP Paribas 4,287.01 13 7.58%
3 SG Corporate & Investment Banking 4,185.05 17 7.40%
4 Credit Agricole CIB 3,637.13 14 6.43%
5 Commerzbank Group 3,172.12 12 5.61%

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 May 2017
1 HSBC 5,378.40 21 6.13%
2 Barclays 4,839.18 14 5.52%
3 Credit Suisse 3,558.82 15 4.06%
4 BNP Paribas 3,205.75 15 3.65%
5 Goldman Sachs 2,788.75 18 3.18%