Pfandbrief issuers could look away from euros

Deutsche Pfandbriefbank (PBB), which completed its second euro benchmark Pfandbrief of the year this week, is expected to consider issuance in dollars or sterling, as are other German issuers that have big foreign currency assets.

  • By Bill Thornhill
  • 16 May 2018

After LBBW’s recent £750m three year sterling covered bond, the largest from a non-UK European bank, interest from other issuers is likely to have been piqued.

PBB could well be next in line, were it not for the fact that it views the level of the euro-sterling ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 7,029.07 37 5.65%
2 Credit Suisse 7,022.58 35 5.65%
3 Natixis 6,665.66 29 5.36%
4 UniCredit 6,410.63 39 5.15%
5 LBBW 6,249.79 35 5.02%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 46,403.23 145 7.13%
2 Citi 42,113.54 202 6.47%
3 JPMorgan 41,625.75 167 6.40%
4 Goldman Sachs 38,358.43 257 5.90%
5 Morgan Stanley 37,251.40 181 5.73%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 37,568.10 120 11.24%
2 JPMorgan 35,621.01 120 10.66%
3 Citi 34,269.32 156 10.25%
4 Goldman Sachs 30,549.25 224 9.14%
5 Morgan Stanley 30,196.41 145 9.03%

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%