Rare Swiss Re tier two ‘sells itself’ in red hot market

Swiss Re met with strong demand on its return to the euro market on Thursday, enabling it to crank in pricing on a new subordinated bond.

  • By Tyler Davies
  • 14 Mar 2019

The Swiss insurance company was set to sell €750m of 31-year non-call 11 tier two bonds through BNP Paribas, Deutsche Bank, HSBC, NatWest Markets and UBS.

The lead managers had set out with initial price thoughts of 215bp over mid-swaps on Thursday ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 11,036.33 93 5.90%
2 HSBC 10,542.32 56 5.64%
3 LBBW 8,737.41 51 4.67%
4 Natixis 7,512.33 39 4.02%
5 UBS 7,388.75 44 3.95%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 71,782.08 359 6.16%
2 Bank of America Merrill Lynch 67,912.34 323 5.83%
3 Citi 62,519.03 354 5.37%
4 Morgan Stanley 54,245.44 286 4.66%
5 Goldman Sachs 48,546.78 413 4.17%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 57,323.59 278 11.27%
2 Bank of America Merrill Lynch 55,455.30 272 10.91%
3 Citi 50,202.89 277 9.87%
4 Morgan Stanley 39,713.99 199 7.81%
5 Goldman Sachs 36,582.69 351 7.19%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,100.80 24 6.48%
2 UniCredit 5,686.46 27 6.04%
3 LBBW 5,637.01 23 5.99%
4 Credit Agricole CIB 5,400.00 24 5.74%
5 HSBC 5,187.54 20 5.51%

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 Barclays 6,543.85 18 11.90%
2 UBS 4,539.34 24 8.25%
3 BNP Paribas 4,443.73 21 8.08%
4 Credit Suisse 3,901.61 15 7.10%
5 JPMorgan 3,758.36 29 6.83%