ApoBank lines up after busy start to 2018

Deutsche Apotheker-und Aerztebank (apoBank) has mandated joint leads for a seven year Pfandbrief. It follows one of the busiest starts to the covered bond market in years. With a more limited supply outlook spreads should stay stable for now. But with yields rising and relative value declining, core European borrowers will become ever more reliant on the Eurosystem to support their deals.

  • By Bill Thornhill
  • 05 Feb 2018

ApoBank has mandated Commerzbank, DZ Bank, LBBW and UniCredit to joint lead manage its €500m no-grow seven year Hypothekenpfandbrief benchmark which will be rated AAA with Standard & Poor’s and will be executed on Tuesday, subject to market conditions.

The transaction follows a €1bn ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 3,250.65 16 6.35%
2 Natixis 3,234.24 13 6.32%
3 Credit Suisse 2,767.40 14 5.41%
4 UBS 2,689.30 14 5.25%
5 LBBW 2,556.50 12 5.00%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 15,874.32 53 7.11%
2 Bank of America Merrill Lynch 15,775.66 42 7.06%
3 JPMorgan 15,640.16 50 7.00%
4 Goldman Sachs 15,581.12 65 6.97%
5 Citi 13,628.95 56 6.10%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 14,508.45 57 10.75%
2 Bank of America Merrill Lynch 14,450.46 36 10.70%
3 JPMorgan 13,926.70 37 10.31%
4 Morgan Stanley 13,389.81 42 9.92%
5 Citi 12,466.23 46 9.23%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 3,073.07 11 9.75%
2 UniCredit 2,350.27 9 7.46%
3 SG Corporate & Investment Banking 2,239.57 9 7.11%
4 UBS 2,070.46 8 6.57%
5 Deutsche Bank 2,015.15 7 6.39%

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 25.50%
2 Credit Agricole CIB 2,031.40 2 21.99%
3 Barclays 505.57 3 5.47%
4 JPMorgan 490.48 3 5.31%
5 Bank of America Merrill Lynch 439.82 3 4.76%