Peak capital markets — issuers soak up demand despite 'bondmageddon' fears

Records were tumbling this week as countries, companies and credit institutions were met with a wall of cash for new bond offerings across the globe — prompting speculation that primary capital markets may well be at the very height of their capacity. Tyler Davies reports.

  • By Tyler Davies
  • 11 Jan 2018

This was despite a backdrop that seemed far from a perfect setting for a blistering start to the year.

Questions over the future of the European Central Bank’s quantitative easing programme caused volatility in European government bonds last week. And this week it was the turn of ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 11,812.99 65 5.42%
2 UniCredit 11,671.56 81 5.35%
3 LBBW 10,428.35 68 4.78%
4 Natixis 10,056.83 54 4.61%
5 UBS 10,023.11 54 4.60%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 76,286.55 325 6.16%
2 Citi 75,616.17 381 6.11%
3 Bank of America Merrill Lynch 74,287.75 290 6.00%
4 Goldman Sachs 69,250.76 575 5.59%
5 Morgan Stanley 64,136.05 354 5.18%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 62,656.60 228 10.68%
2 Bank of America Merrill Lynch 62,176.39 241 10.60%
3 Citi 58,885.51 284 10.04%
4 Goldman Sachs 52,481.43 510 8.95%
5 Morgan Stanley 49,661.01 274 8.47%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 7,428.28 28 7.14%
2 UniCredit 5,756.33 23 5.53%
3 LBBW 5,736.91 24 5.51%
4 Deutsche Bank 5,667.40 19 5.44%
5 Commerzbank Group 5,647.34 22 5.43%

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 7,584.11 21 12.84%
2 Barclays 4,776.16 18 8.08%
3 Credit Suisse 4,490.78 15 7.60%
4 BNP Paribas 4,171.68 19 7.06%
5 UBS 3,877.49 18 6.56%