Co-op guidance comes with premium

Leads Barclays Capital, JP Morgan and Morgan Stanley released guidance on Co-op Bank’s new UK RMBS Silk Road No. 2 on Wednesday, following the result of the Greek vote. With cash prices on the benchmark Granite programme down this week amid dealers dropping inventory, the leads seem to be offering some premium to recent comparable UK primary issues.

  • 30 Jun 2011

Guidance is 150bp-155bp for the euro tranche and 155bp-160bp for the sterling tranche, reflecting the basis between currencies. Both offered tranches have average life of 2.56 years and credit enhancement of 19.5%.

Yorkshire Building Society’s Brass No. 1, the most recent standalone UK prime deal, placed its ‘A’ notes ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 10 Jan 2017
1 BNP Paribas 1,771.98 5 9.12%
2 HSBC 1,629.73 7 8.39%
3 Commerzbank Group 1,363.68 5 7.02%
4 UBS 1,350.40 4 6.95%
5 SG Corporate & Investment Banking 978.07 4 5.03%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 8,638.50 15 11.13%
2 Barclays 7,212.69 10 9.29%
3 Goldman Sachs 6,158.31 19 7.93%
4 Credit Suisse 5,544.13 9 7.14%
5 Credit Agricole CIB 4,837.98 10 6.23%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 10 Jan 2017
1 Citi 7,161.15 5 19.51%
2 Barclays 5,414.82 3 14.75%
3 Credit Suisse 4,540.95 3 12.37%
4 Goldman Sachs 2,308.61 5 6.29%
5 Credit Agricole CIB 2,294.43 1 6.25%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 10 Jan 2017
1 BNP Paribas 1,422.29 4 10.47%
2 UBS 1,350.40 4 9.94%
3 Commerzbank Group 1,126.47 3 8.29%
4 SG Corporate & Investment Banking 978.07 4 7.20%
5 BayernLB 954.49 3 7.03%

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
  • 03 Jan 2017
1 HSBC 8,187.43 25 5.18%
2 BNP Paribas 7,618.57 27 4.82%
3 UBS 7,366.70 31 4.66%
4 Barclays 5,784.35 18 3.66%
5 Citi 4,896.19 26 3.10%