CBA To Offer Reverse Convertible Bonds

  • 25 Mar 2002
Email a colleague
Request a PDF

Commonwealth Bank of Australia plans to start offering reverse convertibles to clients by year-end. The move is part of the firm's plans to increase its product range as it focuses on premium clients. "We're looking to expand the sweep of products we offer our clients," said Stephen Richards, head of equity trading and risk at CBA in Sydney. Richards estimated it could sell AUD50-100 (USD26.4-52.9 million) within 12 months of launching the product.

"Reverse CBs are tax-effective, provide a leveraged equity-linked return and are cost-effective," said Richards. In a reverse convertible structure, the client in effect sells a put option linked to an underlying equity, gaining an enhanced coupon. Typical maturities will range from three to six months, noted Richards.

  • 25 Mar 2002

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 Citi 22,118.13 61 9.00%
2 Barclays 20,987.41 55 8.54%
3 JPMorgan 17,406.75 53 7.08%
4 HSBC 16,333.52 48 6.64%
5 Goldman Sachs 15,454.74 49 6.29%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Commerzbank Group 114.00 1 66.16%
2 CaixaBank 37.05 1 21.50%
3 UniCredit 10.62 1 6.17%
3 BNP Paribas 10.62 1 6.17%
Subtotal 172.30 3 100.00%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 SG Corporate & Investment Banking 770.06 2 16.80%
2 Goldman Sachs 656.16 2 14.32%
3 JPMorgan 527.28 4 11.50%
4 Emirates NBD PJSC 408.38 1 8.91%
5 Deutsche Bank 321.53 3 7.01%