Santander exercises call option on dollar AT1

Another day, another Santander call option. The bank revealed this week that it will call its 6.375% $1.5bn additional tier one perpetual note. In February it became the first bank ever to extend the life of an AT1, but its move this week gave market participants better insight into how it is likely to treat call decisions.

  • By David Freitas
  • 16 Apr 2019
The Spanish bank has a $1.5bn 6.375% dollar bond with a first call date on May 19, but because banks have to give notice between 30 and 60 days in advance if they want to redeem an AT1, the deadline for Santander to exercise the call option on ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 10,283.03 88 5.81%
2 HSBC 10,220.20 53 5.78%
3 LBBW 8,393.04 48 4.74%
4 Natixis 7,239.94 37 4.09%
5 Barclays 7,218.44 37 4.08%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 60,011.29 274 6.02%
2 JPMorgan 58,598.95 308 5.88%
3 Citi 54,689.41 309 5.49%
4 Morgan Stanley 46,113.94 248 4.63%
5 Goldman Sachs 40,887.95 358 4.10%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 49,203.00 230 11.27%
2 JPMorgan 47,156.55 239 10.80%
3 Citi 43,187.43 241 9.89%
4 Morgan Stanley 35,545.12 175 8.14%
5 Goldman Sachs 31,020.38 303 7.11%

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 13.55%
2 UBS 4,233.38 20 9.30%
3 BNP Paribas 3,880.04 17 8.52%
4 Credit Agricole CIB 3,549.81 11 7.80%
5 Credit Suisse 2,989.22 12 6.57%