BFCM pushes out tier two as Erste holds off

Erste Group Bank decided not to issue its additional tier one (AT1) bond on Wednesday after FIG bonds were hit by wider moves in the fixed income market. But elsewhere in the subordinated debt market Banque Fédérative du Crédit Mutuel did press ahead with a bullet tier two deal.

  • By Jasper Cox
  • 16 May 2018

FIG bonds moved wider from Tuesday to Wednesday, as the market reacted to the 10 year US Treasury yield reaching a seven year high, as well as a leaked document in Italy showing a draft coalition agreement between the Five Star Movement and the League.

The document, which was ...

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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%