Montepio offers to pay 10.5% on debut tier two

Caixa Económica Montepio Geral opened books for its first public tier two capital issue on Wednesday, announcing eye-catching price thoughts of 10.5% area.

  • By Tyler Davies
  • 27 Mar 2019

The Portuguese borrower, which has not sold subordinated debt before, was always going to need to offer plenty of yield to attract investment, since it is rated B3 by Moody’s and B+ by Fitch.

The proposed €100m 10 year non-call five tier two note is expected to be ...

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All International Bonds

Rank Lead Manager Amount $b No of issues Share %
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1 JPMorgan 364.29 1680 8.39%
2 Citi 333.83 1420 7.69%
3 Bank of America Merrill Lynch 285.16 1235 6.57%
4 Barclays 256.17 1078 5.90%
5 HSBC 213.44 1175 4.92%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $b No of issues Share %
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1 BNP Paribas 40.95 193 7.04%
2 Credit Agricole CIB 38.30 162 6.59%
3 JPMorgan 31.28 85 5.38%
4 Bank of America Merrill Lynch 26.65 82 4.58%
5 UniCredit 26.55 144 4.56%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 JPMorgan 11.53 77 9.60%
2 Morgan Stanley 11.15 54 9.28%
3 Goldman Sachs 10.04 53 8.36%
4 Citi 8.06 63 6.71%
5 Bank of America Merrill Lynch 5.64 31 4.69%