Covered bond volumes to explode in January

Covered bond primary volumes are likely to grow steeply in January, as issuers take advantage of a sizeable amount of cash that investors will want to return to the market because of soaring redemptions.

  • By Bill Thornhill
  • 13 Dec 2017

January is always the busiest month of the year and 2018 is unlikely to prove an exception. 

According to analysts at Société Générale research, investors will have as much as €17bn to reinvest in the market due to redemptions alone. 

On this basis, volumes could easily reach or surpass €20bn, ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,366.81 27 5.60%
2 Credit Suisse 6,294.71 32 5.54%
3 UniCredit 6,112.88 36 5.38%
4 HSBC 5,866.45 33 5.16%
5 LBBW 5,373.19 30 4.72%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 39,079.96 117 7.06%
2 JPMorgan 36,305.96 133 6.56%
3 Citi 35,381.73 166 6.39%
4 Goldman Sachs 34,077.64 203 6.15%
5 Morgan Stanley 31,276.81 144 5.65%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 31,329.74 93 11.21%
2 Bank of America Merrill Lynch 30,566.41 94 10.93%
3 Citi 28,565.76 128 10.22%
4 Goldman Sachs 26,794.71 174 9.59%
5 Morgan Stanley 25,834.05 111 9.24%

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 4,538.06 9 13.44%
2 UBS 3,374.07 13 9.99%
3 BNP Paribas 2,596.35 10 7.69%
4 Credit Agricole CIB 2,458.47 6 7.28%
5 SG Corporate & Investment Banking 2,055.39 8 6.09%