LBBW feels the green glow with senior debut

LBBW came to the market with its first green bond on Tuesday, hoping to reach new investors. It plans to issue at least one to two benchmark green trades a year in the senior unsecured or covered format.

  • By Jasper Cox
  • 05 Dec 2017


Final terms were set at 17bp over mid-swaps for the benchmark four year senior deal, from initial price thoughts in the mid to high 20bp area. The order book stood at over €1.4bn, excluding interest from joint lead managers. The size had not been set when GlobalCapital published.

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Credit Suisse 6,183.04 31 5.57%
2 Natixis 6,110.85 25 5.50%
3 UniCredit 5,952.50 34 5.36%
4 HSBC 5,429.80 30 4.89%
5 Deutsche Bank 5,347.15 24 4.81%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 34,822.02 112 6.75%
2 Goldman Sachs 32,510.73 196 6.31%
3 Citi 30,990.71 158 6.01%
4 JPMorgan 30,135.11 120 5.84%
5 Morgan Stanley 25,337.99 133 4.91%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 30,558.66 92 12.04%
2 JPMorgan 25,489.36 82 10.04%
3 Goldman Sachs 25,357.87 168 9.99%
4 Citi 24,298.88 121 9.57%
5 Morgan Stanley 20,022.47 102 7.89%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,582.45 20 8.97%
2 Deutsche Bank 4,163.44 13 6.69%
3 UniCredit 3,902.49 16 6.27%
4 LBBW 3,521.48 15 5.66%
5 SG Corporate & Investment Banking 3,368.88 14 5.42%

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 HSBC 4,313.33 7 13.03%
2 UBS 3,374.07 13 10.19%
3 BNP Paribas 2,596.35 10 7.84%
4 Credit Agricole CIB 2,377.58 5 7.18%
5 SG Corporate & Investment Banking 2,055.39 8 6.21%