Dexia’s UT2 rating slashed as coupon is skipped

Standard & Poor’s downgraded Dexia Bank’s Eu228.674m 6.25% upper tier two bonds from B to CC on Tuesday afternoon, following the announcement by the bank on Monday that it would not be paying coupons on the securities, following pressure from the European Commission.

  • 11 Nov 2009

The coupons were due to be paid on November 18 and were discretionary.

There were questions last week as to whether the bank would be able to pay the coupons on the bonds. While Dexia has been clear on callability and payment of certain other instruments, it said ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 9,615.99 43 6.16%
2 UniCredit 7,570.25 62 4.85%
3 LBBW 7,095.33 39 4.54%
4 Commerzbank Group 6,961.50 44 4.46%
5 BNP Paribas 6,833.59 30 4.38%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 87,751.12 359 7.39%
2 Bank of America Merrill Lynch 77,372.46 295 6.51%
3 Goldman Sachs 74,944.59 398 6.31%
4 Citi 74,754.56 460 6.29%
5 JPMorgan 70,466.76 340 5.93%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 63,836.41 259 10.46%
2 Citi 63,521.73 352 10.41%
3 Bank of America Merrill Lynch 63,391.02 250 10.39%
4 JPMorgan 58,458.79 260 9.58%
5 Goldman Sachs 54,650.14 327 8.96%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 LBBW 5,487.17 19 7.34%
2 SG Corporate & Investment Banking 5,349.05 21 7.15%
3 BNP Paribas 4,566.36 14 6.10%
4 Credit Agricole CIB 4,553.92 17 6.09%
5 Commerzbank Group 4,242.73 17 5.67%

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 13.71%
2 HSBC 8,105.27 30 12.80%
3 BNP Paribas 4,343.93 23 6.86%
4 Credit Suisse 4,219.22 21 6.66%
5 Citi 4,059.10 33 6.41%