Caffil secures solid result with careful choices

Caffil managed to attract a strong order book for its eight and 15 year covered bonds issued on Tuesday, largely because it paid careful attention to size, starting spread and tenor.

  • By Bill Thornhill
  • 09 Jan 2018

Recent deals issued by Compagnie de Financement Foncier, UBI Banca and CaixaBank have shown that a degree of investor differentiation has returned to the market, something that was not in evidence often in 2017.

Peripheral European covered bonds are trading well though govvies and offers have been ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 9,646.84 53 5.52%
2 UniCredit 9,032.72 58 5.17%
3 LBBW 8,460.29 51 4.84%
4 Natixis 8,380.29 41 4.79%
5 Commerzbank Group 7,808.11 45 4.47%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 54,138.28 200 6.36%
2 JPMorgan 52,700.20 217 6.19%
3 Citi 49,371.11 257 5.80%
4 Goldman Sachs 47,685.69 398 5.60%
5 Morgan Stanley 45,485.97 244 5.34%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 44,405.37 166 10.90%
2 JPMorgan 43,387.18 154 10.65%
3 Citi 40,278.63 202 9.89%
4 Goldman Sachs 38,033.04 355 9.34%
5 Morgan Stanley 34,608.53 187 8.50%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,511.67 24 7.33%
2 UniCredit 5,302.66 21 5.97%
3 Deutsche Bank 5,002.94 16 5.64%
4 LBBW 4,811.97 20 5.42%
5 Commerzbank Group 4,809.31 18 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 4,729.28 11 11.92%
2 UBS 3,374.07 13 8.50%
3 BNP Paribas 2,704.23 11 6.81%
4 Credit Agricole CIB 2,458.47 6 6.20%
5 Credit Suisse 2,352.50 10 5.93%