Credit Suisse AT1 trading gives market hope

The secondary performance of Credit Suisse’s additional tier one (AT1) bond issued on Monday led market participants to talk about the asset class finding its feet again after a torrid time recently.

  • By Jasper Cox
  • 12 Jul 2018

The bond was seen trading at above 102 cash points on Thursday afternoon.

“The secondary performance of that bond has been terrific,” said one FIG syndicate head away from the deal.

On Monday, the Swiss bank priced the $2bn deal at 7.5%. Credit Suisse was the sole arranger ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 10,728.85 61 5.34%
2 UniCredit 10,041.71 74 5.00%
3 LBBW 9,752.95 65 4.85%
4 Natixis 9,399.97 49 4.68%
5 Commerzbank Group 9,317.67 57 4.64%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 74,275.20 309 6.45%
2 Bank of America Merrill Lynch 71,688.10 265 6.23%
3 Citi 70,268.02 350 6.10%
4 Goldman Sachs 65,241.22 525 5.67%
5 HSBC 61,420.90 277 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 11.02%
2 Bank of America Merrill Lynch 59,969.47 219 10.84%
3 Citi 55,716.51 263 10.07%
4 Goldman Sachs 49,225.99 464 8.89%
5 Morgan Stanley 45,917.96 255 8.30%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Sep 2018
1 Natixis 6,934.65 26 7.24%
2 Commerzbank Group 5,481.12 21 5.73%
3 SG Corporate & Investment Banking 5,303.97 23 5.54%
4 UniCredit 5,302.66 21 5.54%
5 Deutsche Bank 5,233.70 17 5.47%

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
  • 20 Sep 2018
1 HSBC 5,895.97 18 10.92%
2 Barclays 4,410.61 16 8.17%
3 Credit Suisse 4,278.10 14 7.92%
4 BNP Paribas 3,808.41 16 7.05%
5 UBS 3,802.05 17 7.04%