Banks resurface as FIG market glows red hot

FIG bond market participants were speaking in superlatives as new bonds flew off the shelves this week. But some DCM officials are advising their clients not to count on conditions remaining evergreen through the rest of 2019, encouraging them to put long-held deal plans into action.

  • By Tyler Davies
  • 21 Feb 2019

Non-preferred senior debt was the asset class of choice for issuers in the euro market. This format has seen little supply in recent weeks, with the volume of sales having fallen year on year by about 53% in January.

Investors have been left hungry for new issuance, ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 6,314.80 30 6.53%
2 UniCredit 5,757.33 48 5.95%
3 LBBW 5,650.96 32 5.84%
4 Natixis 4,708.38 22 4.87%
5 Credit Agricole CIB 4,632.01 23 4.79%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 25,305.84 121 7.02%
2 JPMorgan 24,280.35 106 6.73%
3 Bank of America Merrill Lynch 21,984.95 88 6.10%
4 Morgan Stanley 19,748.28 103 5.48%
5 Goldman Sachs 18,121.76 154 5.03%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 20,187.92 74 10.92%
2 Citi 20,047.19 95 10.84%
3 JPMorgan 19,459.84 84 10.52%
4 Morgan Stanley 16,529.18 77 8.94%
5 Goldman Sachs 15,636.39 136 8.46%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 3,944.55 14 7.40%
2 HSBC 3,694.64 13 6.93%
3 LBBW 3,692.39 14 6.93%
4 Credit Agricole CIB 3,687.68 15 6.92%
5 Deutsche Bank 3,304.65 12 6.20%

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 Credit Agricole CIB 3,286.19 8 13.95%
2 UBS 3,110.84 10 13.21%
3 Barclays 2,579.55 5 10.95%
4 BNP Paribas 2,246.30 9 9.54%
5 HSBC 1,533.23 10 6.51%