Danish Ship Finance plots maiden voyage

The unique assets and business model of Danish Ship Finance meant the price discovery process was much more challenging for its first euro covered bond than is typical. However, with a conservative starting spread the issuer reeled investors in for its inaugural euro benchmark on Thursday.

  • By Bill Thornhill
  • 21 Mar 2019

ABN Amro, Danske Bank, LBBW and UniCredit opened order books on Thursday with price guidance of 42bp area over mid-swaps for the 3.5 year single-A rated covered bond secured on shipping loans.

After 40 minutes, orders exceeded €500m, and after three hours 35 orders ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 10,226.87 87 5.98%
2 HSBC 9,924.14 51 5.80%
3 LBBW 8,393.04 48 4.91%
4 Natixis 7,217.47 36 4.22%
5 UBS 7,025.55 38 4.11%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 52,563.97 240 5.87%
2 Citi 52,120.64 279 5.82%
3 JPMorgan 51,592.41 265 5.76%
4 Morgan Stanley 37,731.07 213 4.21%
5 HSBC 35,834.12 222 4.00%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 42,999.30 198 11.21%
2 JPMorgan 41,206.47 202 10.74%
3 Citi 40,920.97 214 10.67%
4 Morgan Stanley 27,539.54 145 7.18%
5 Goldman Sachs 27,200.66 258 7.09%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,939.43 23 6.77%
2 LBBW 5,403.66 21 6.16%
3 UniCredit 5,082.55 24 5.79%
4 HSBC 5,076.13 19 5.78%
5 Credit Agricole CIB 4,965.07 22 5.66%

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 6,170.54 15 14.50%
2 UBS 4,233.38 20 9.95%
3 BNP Paribas 3,846.71 16 9.04%
4 Credit Agricole CIB 3,549.81 11 8.34%
5 HSBC 2,155.16 15 5.06%