SG prices covered bonds tight as Erste and Caffil line up

Société Générale returned to the covered bond market for the second time this year and found strong demand for its tightly priced long seven year. The excellent reception will help boost confidence for Erste Group and Caffil, which have both mandated for follow-on covered bonds.

  • By Bill Thornhill
  • 18 Jun 2018

SG mandated leads and opened order books for a benchmark sized January 2026 note, rated Aaa/—/AAA, with initial guidance set at flat to mid-swaps on Monday.

After approximately two hours joint leads, ABN Amro, Natixis, NatWest Markets, Raiffeisen Bank International, Santander and SG had ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 10,838.70 62 5.34%
2 LBBW 10,110.44 66 4.98%
3 UniCredit 10,041.71 74 4.95%
4 Natixis 9,776.52 51 4.82%
5 Commerzbank Group 9,317.67 57 4.59%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 74,275.20 309 6.41%
2 Bank of America Merrill Lynch 71,790.46 266 6.20%
3 Citi 70,388.25 351 6.08%
4 Goldman Sachs 66,011.45 527 5.70%
5 HSBC 61,730.67 280 5.33%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 60,985.86 215 10.98%
2 Bank of America Merrill Lynch 59,969.47 219 10.80%
3 Citi 55,716.51 263 10.03%
4 Goldman Sachs 49,875.99 465 8.98%
5 Morgan Stanley 46,382.96 258 8.35%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 7,282.04 27 7.38%
2 Commerzbank Group 5,647.34 22 5.73%
3 LBBW 5,565.43 23 5.64%
4 SG Corporate & Investment Banking 5,470.19 24 5.55%
5 UniCredit 5,468.87 22 5.55%

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 7,022.22 19 12.72%
2 Barclays 4,410.61 16 7.99%
3 Credit Suisse 4,278.10 14 7.75%
4 BNP Paribas 3,808.41 16 6.90%
5 UBS 3,802.05 17 6.89%