Swiss market weathers storm as two banks raise opportunistic funding

National Australia Bank (NAB) and Société Générale both entered the Swiss market on Wednesday with tight pricing, in a sign that the market is luring financial borrowers to print opportunistically in Swiss francs.

  • By Silas Brown
  • 14 Feb 2018

Lead Deutsche Bank priced NAB's 0.25% Sfr200m ($214.4m) March 2024 bonds at 3bp over mid-swaps. The banker said the new offering was priced flat to its euro and dollar curves, but was 5bp inside its Swiss franc bond lines.

“Aussie banks are favoured in the Swiss franc market ...

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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 Goldman Sachs 16,645.90 69 7.02%
2 Morgan Stanley 16,238.66 58 6.85%
3 JPMorgan 16,212.01 56 6.83%
4 Bank of America Merrill Lynch 15,866.43 43 6.69%
5 Citi 14,586.71 61 6.15%

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%