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 12,659.07 70 5.30%
2 UniCredit 12,296.44 84 5.15%
3 Natixis 11,157.78 62 4.67%
4 LBBW 11,132.68 72 4.66%
5 UBS 10,837.07 59 4.54%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 79,970.52 344 6.08%
2 Citi 77,398.63 410 5.88%
3 Bank of America Merrill Lynch 76,906.47 310 5.84%
4 Goldman Sachs 71,599.54 611 5.44%
5 Morgan Stanley 67,934.47 388 5.16%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 64,711.68 262 10.42%
2 JPMorgan 64,710.03 242 10.42%
3 Citi 60,514.50 310 9.75%
4 Goldman Sachs 54,061.50 545 8.71%
5 Morgan Stanley 52,830.49 304 8.51%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 8,242.30 32 7.17%
2 LBBW 6,441.23 28 5.60%
3 UniCredit 6,381.22 26 5.55%
4 Deutsche Bank 6,252.08 21 5.44%
5 Credit Agricole CIB 6,198.22 24 5.39%

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 7,584.11 21 12.26%
2 BNP Paribas 5,156.76 22 8.34%
3 Barclays 4,776.16 18 7.72%
4 Credit Suisse 4,518.72 16 7.31%
5 UBS 3,976.00 19 6.43%