Sterling hybrid investor upbeat amid Brexit uncertainty

Market conditions have been shaky at times this year, and UK institutions in particular are under pressure as the country negotiates its departure form the EU. But Peter Doherty, managing partner and chief investment officer of Tideway Investment Partners, remains bullish on sterling hybrid debt.

  • By Jasper Cox
  • 19 Sep 2018

In Tideway’s offices in Victoria, London, Doherty told GlobalCapital he was bullish on the valuations of sterling hybrid debt.

It is a busy time for this particular slice of the market, with some institutions seeing sterling-denominated deals as strategically important for their future plans.

On Tuesday, Prudential 

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 11,671.49 81 5.45%
2 HSBC 10,985.14 63 5.13%
3 LBBW 10,428.35 68 4.87%
4 Natixis 10,056.83 54 4.69%
5 Commerzbank Group 9,739.62 61 4.54%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 76,186.64 322 6.18%
2 Citi 75,614.99 380 6.14%
3 Bank of America Merrill Lynch 74,287.75 290 6.03%
4 Goldman Sachs 68,890.42 571 5.59%
5 Morgan Stanley 64,134.18 352 5.20%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 62,605.42 226 10.75%
2 Bank of America Merrill Lynch 62,176.39 241 10.67%
3 Citi 58,884.33 283 10.11%
4 Goldman Sachs 52,121.09 506 8.95%
5 Morgan Stanley 49,659.14 272 8.53%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 7,428.28 28 7.28%
2 UniCredit 5,756.33 23 5.64%
3 LBBW 5,736.91 24 5.62%
4 Deutsche Bank 5,667.40 19 5.55%
5 Commerzbank Group 5,647.34 22 5.53%

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 12.84%
2 Barclays 4,776.16 18 8.08%
3 Credit Suisse 4,490.78 15 7.60%
4 BNP Paribas 4,171.68 19 7.06%
5 UBS 3,877.49 18 6.56%