Banks offer sub senior across the curve

Deutsche Pfandbriefbank, Société Générale and BNP Paribas issued a total of €2.25bn of senior non-preferred debt on Tuesday, offering four, five and seven year tenors.

  • By Jasper Cox
  • 16 Jan 2018


BNP Paribas opted for a self-led floating rate deal. It set initial price thoughts for the five year benchmark euro transaction in the 40bp area over three month Euribor. Final terms were set at 33bp with a book size of more than €750m at the final spread.

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 4,052.17 16 6.98%
2 UniCredit 3,766.07 19 6.49%
3 Credit Suisse 3,501.18 16 6.03%
4 Barclays 3,225.91 15 5.56%
5 Deutsche Bank 2,972.40 12 5.12%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 16,178.66 57 6.93%
2 Bank of America Merrill Lynch 15,866.43 43 6.80%
3 Goldman Sachs 15,855.43 67 6.79%
4 JPMorgan 15,730.92 51 6.74%
5 Citi 13,920.53 60 5.96%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 14,782.77 59 10.78%
2 Bank of America Merrill Lynch 14,541.23 37 10.61%
3 JPMorgan 14,017.46 38 10.22%
4 Morgan Stanley 13,480.57 43 9.83%
5 Citi 12,623.66 48 9.21%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 3,768.78 13 10.71%
2 UniCredit 2,555.78 10 7.26%
3 Deutsche Bank 2,505.35 8 7.12%
4 SG Corporate & Investment Banking 2,239.57 9 6.36%
5 Credit Suisse 2,135.65 6 6.07%

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 UBS 2,355.83 6 22.08%
2 Credit Agricole CIB 2,031.40 2 19.04%
3 SG Corporate & Investment Banking 1,447.57 4 13.57%
4 Barclays 505.57 3 4.74%
5 JPMorgan 490.48 3 4.60%