TD suggests unfaltering demand for sterling covered

Sterling covered bond supply so far this year has been high but Toronto Dominion Bank showed on Monday that demand was also plentiful, as it issued another tightly priced transaction with a strong book.

  • By Bill Thornhill
  • 22 Jan 2018

Initial price thoughts for the January 2023 floating rate transaction were set at 27bp area over three month Libor on Monday by joint leads HSBC, Lloyds, NatWest Markets and TD Securities.

After one hour and 40 minutes the order book stood at £650m ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Credit Suisse 7,022.58 35 5.70%
2 HSBC 6,999.55 36 5.69%
3 Natixis 6,515.38 28 5.29%
4 UniCredit 6,410.63 39 5.21%
5 LBBW 6,099.50 34 4.95%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 46,399.06 142 7.19%
2 Citi 42,112.14 199 6.53%
3 JPMorgan 41,623.03 165 6.45%
4 Goldman Sachs 38,346.43 256 5.94%
5 Morgan Stanley 37,124.00 177 5.75%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 37,563.93 117 11.24%
2 JPMorgan 35,618.29 118 10.66%
3 Citi 34,267.93 153 10.26%
4 Goldman Sachs 30,537.25 223 9.14%
5 Morgan Stanley 30,195.53 143 9.04%

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 8.81%
2 Deutsche Bank 4,163.44 13 6.57%
3 UniCredit 3,902.49 16 6.16%
4 LBBW 3,756.32 16 5.93%
5 SG Corporate & Investment Banking 3,603.72 15 5.69%

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 13.07%
2 UBS 3,374.07 13 9.72%
3 BNP Paribas 2,596.35 10 7.48%
4 Credit Agricole CIB 2,458.47 6 7.08%
5 SG Corporate & Investment Banking 2,180.25 9 6.28%