Latest Bank/Insurance Capital news

  • Tier three turns heads after sterling return

    Europe’s nascent tier three market is rapidly proving itself as a happy medium between tier two and senior, capable of pleasing issuers and investors in equal measure. Phoenix Group Holdings priced only the third example this week, and the first in sterling, but the deal’s impressive performance suggests the asset class could have a bright future.

    • 19 Jan 2017
  • Bank of Cyprus eyes greater market access with London listing

    Bank of Cyprus listed its shares on the London Stock Exchange on Thursday, in the latest of a series of moves aimed at increasing the bank’s access to the financial markets.

    • 19 Jan 2017
  • 'Big initial flow' ends as FIG anticipates TLAC-heavy 2017

    The year’s initial rush of FIG issuance subsided this week, but market participants are already positioning themselves for heavy supply of bail-inable senior bonds in later busy issuance windows.

    • 19 Jan 2017
  • Groupama tops up capital with two-for-one exchange

    Groupama exchanged a legacy tier one and a legacy tier two instrument for a new bullet tier two on Tuesday, as the French insurer looked to optimise its capital structure under Solvency II.

    • 18 Jan 2017
  • FWD finds big demand for $250m subordinated perp

    Hong Kong-based insurer FWD priced a $250m subordinated, perpetual dollar denominated note on Tuesday off the back of a $6.75bn order book, making the deal around 26 times covered.

    • 18 Jan 2017
  • FIG issuers look to break new ground in quieter week for primary

    FIG primary market activity slowed ahead of reporting season this week, though Phoenix Group Holdings printed the first ever tier three bond in sterling and BPCE was preparing to open the Samurai market for senior non-preferred.

    • 18 Jan 2017
  • Investors see ‘great opportunity’ in PGH tier three

    UK insurer Phoenix Group Holdings tightened pricing by nearly 40bp on Monday for the first ever Solvency II compliant tier three bond in sterling, as investors appeared keen to take on more bonds in the rarely used format.

    • 17 Jan 2017
  • FWD makes comeback with subordinated NC5 perp

    Hong Kong’s FWD began marketing a new perp on Tuesday, returning to dollar market after a gap of more than two years.

    • 17 Jan 2017
  • Second Turkish bank turns to liability management for capital boost

    Türkiye Vakıflar Bankası (Vakibank) is asking investors exchange its old style tier two bonds for new Basel III compliant notes, making it the second Turkish bank in as many weeks to turn to liability management to boost its capital.

    • 16 Jan 2017
  • Risk-weight changes prompt Close Brothers tier two

    Close Brothers was warmly welcomed for a new £175m tier two issuance on Friday, as the bank sought to protect its capital ratios amid important changes to the way in which banks must calculate risk weightings for their property loans.

    • 13 Jan 2017

Bank/Insurance Capital news archive



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Capital markets data from GlobalCapital


Go to GlobalCapital's FIG data pages for the most up to date information on the global financial institution bond markets. Find our FIG bond comments, FIG league tables by Dealogic and our priced deals database.

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 HSBC 2,397.96 9 4.23%
2 SG Corporate & Investment Banking 2,188.22 8 3.86%
3 LBBW 1,773.99 6 3.13%
4 UBS 1,773.35 6 3.13%
5 BNP Paribas 1,771.98 5 3.12%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 14,170.16 27 10.64%
2 Bank of America Merrill Lynch 11,925.37 24 8.95%
3 Citi 9,905.55 26 7.44%
4 Barclays 8,491.43 14 6.38%
5 Goldman Sachs 7,806.19 24 5.86%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 12,892.79 18 13.58%
2 Bank of America Merrill Lynch 10,724.83 17 11.29%
3 Goldman Sachs 10,674.85 18 11.24%
4 Citi 8,455.71 16 8.90%
5 Barclays 7,531.36 10 7.93%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 SG Corporate & Investment Banking 2,188.22 8 11.15%
2 LBBW 1,773.99 6 9.04%
3 BNP Paribas 1,422.29 4 7.25%
4 HSBC 1,372.05 4 6.99%
5 UBS 1,350.40 4 6.88%

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
  • 17 Jan 2017
1 Bank of America Merrill Lynch 811.76 5 11.41%
2 Citi 712.63 4 10.01%
3 BNP Paribas 602.64 3 8.47%
4 Credit Agricole CIB 546.86 3 7.68%
5 JPMorgan 436.73 3 6.14%