Pfandbrief trio get traction, fourth rumoured

Hamburger Sparkasse (HASPA) paid a small new issue premium for its five year Pfandbrief on Tuesday, and will be followed on Wednesday with more German covered bonds in the belly of the curve from Commerzbank and Stadtsparkasse München. Despite the ease of five year execution, some bankers believe the 10 year is also open — and could soon be supplied by a fourth German issuer.

  • By Bill Thornhill
  • 05 Jun 2018

After mandating leads on Monday, HASPA opened order books on Tuesday for a €500m no grow five year Hypothekenpfandbrief, rated Aaa with Moody's.

Joint leads BayernLB, Commerzbank, DekaBank, HASPA and LBBW opened order books with guidance of 7bp through mid-swaps. After 90 minutes the ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 8,480.26 46 5.79%
2 UniCredit 7,639.27 45 5.22%
3 Natixis 7,582.74 35 5.18%
4 LBBW 7,539.58 43 5.15%
5 Credit Suisse 7,360.16 38 5.03%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 49,849.19 198 6.61%
2 Bank of America Merrill Lynch 49,780.02 176 6.60%
3 Citi 46,505.24 237 6.17%
4 Goldman Sachs 42,555.42 319 5.65%
5 Morgan Stanley 41,571.44 217 5.52%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 41,487.73 141 10.97%
2 Bank of America Merrill Lynch 40,709.11 148 10.77%
3 Citi 38,330.74 188 10.14%
4 Goldman Sachs 34,561.36 285 9.14%
5 Morgan Stanley 32,672.22 174 8.64%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,119.91 22 8.12%
2 UniCredit 4,780.36 19 6.34%
3 LBBW 4,596.09 19 6.10%
4 Deutsche Bank 4,163.44 13 5.52%
5 Commerzbank Group 3,994.46 14 5.30%

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 12.86%
2 UBS 3,374.07 13 9.56%
3 BNP Paribas 2,596.35 10 7.36%
4 Credit Agricole CIB 2,458.47 6 6.97%
5 SG Corporate & Investment Banking 2,180.25 9 6.18%