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 HSBC 7,466.45 40 5.70%
2 Natixis 7,203.12 31 5.50%
3 Credit Suisse 7,022.58 35 5.36%
4 LBBW 6,855.59 38 5.23%
5 UniCredit 6,528.35 40 4.98%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 46,538.25 147 6.98%
2 Citi 42,730.19 207 6.41%
3 JPMorgan 42,104.91 172 6.32%
4 Goldman Sachs 38,945.82 268 5.84%
5 Morgan Stanley 38,549.63 184 5.78%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 37,630.60 121 11.10%
2 JPMorgan 35,733.01 122 10.54%
3 Citi 34,819.94 160 10.27%
4 Goldman Sachs 31,136.63 235 9.18%
5 Morgan Stanley 30,197.39 146 8.91%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,119.91 22 8.95%
2 LBBW 4,244.39 18 6.21%
3 Deutsche Bank 4,163.44 13 6.09%
4 UniCredit 3,902.49 16 5.71%
5 SG Corporate & Investment Banking 3,848.68 16 5.63%

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 13.03%
2 UBS 3,374.07 13 9.69%
3 BNP Paribas 2,596.35 10 7.46%
4 Credit Agricole CIB 2,458.47 6 7.06%
5 SG Corporate & Investment Banking 2,180.25 9 6.26%