Universe of Italian covered bond issuers expands with Desio

Although Obbligazioni Bancarie Garantite (OBG) supply has been limited this year, the universe of borrowers is set to expand as Fitch assigned a rating to a programme for Banco di Desio e della Brianza’s (Desio) in the expectation of a €500m deal.

  • By Bill Thornhill
  • 25 Jul 2017

It has yet to publicly mandate lead managers but BNP Paribas was the arranger of the €3bn programme.

Fitch assigned an AA- rating to it, on the basis of “an expected issue of €500m with a seven year maturity”. 

The bank’s long term issuer rating is BBB- and, ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 12,298.38 63 6.25%
2 UniCredit 9,672.56 77 4.92%
3 BNP Paribas 9,051.42 45 4.60%
4 Commerzbank Group 8,371.43 55 4.26%
5 LBBW 8,276.69 51 4.21%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 105,332.04 444 6.81%
2 Citi 98,753.16 574 6.38%
3 Goldman Sachs 95,690.92 534 6.19%
4 Bank of America Merrill Lynch 93,305.61 406 6.03%
5 JPMorgan 88,684.81 426 5.73%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 84,268.08 442 10.76%
2 Bank of America Merrill Lynch 75,402.72 347 9.63%
3 Morgan Stanley 74,189.20 329 9.47%
4 JPMorgan 74,072.86 330 9.46%
5 Goldman Sachs 73,768.89 452 9.42%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 5,645.35 19 6.27%
2 Credit Agricole CIB 5,608.30 21 6.23%
3 LBBW 5,605.63 20 6.23%
4 SG Corporate & Investment Banking 5,543.24 22 6.16%
5 Commerzbank Group 4,949.16 20 5.50%

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 9,461.63 27 12.16%
2 HSBC 9,214.48 38 11.84%
3 BNP Paribas 6,278.15 28 8.07%
4 Citi 4,542.03 36 5.84%
5 Credit Suisse 4,325.15 22 5.56%