ING DiBA shows thriving covered bond bid

The frenetic pace of buying seen in covered bonds issued earlier this month may have ebbed as rates market volatility has increased, but Thursday’s dual tranche offering from ING DiBA showed that demand is still vigorous.

  • By Bill Thornhill
  • 16 May 2019

ING DiBA issued a €750m eight year Pfandbrief at 2bp through mid-swaps with orders of €1.7bn and a €750m 20 year at 8bp over with demand of €13.5bn. The order book was quick to grow with the transaction completed by 10:30am UK time.

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 8,193.67 66 6.50%
2 HSBC 7,294.00 37 5.79%
3 LBBW 6,988.86 39 5.55%
4 Natixis 5,749.17 27 4.56%
5 Barclays 5,557.78 30 4.41%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 41,447.11 199 6.91%
2 Bank of America Merrill Lynch 38,563.61 156 6.43%
3 JPMorgan 36,010.73 172 6.00%
4 Morgan Stanley 26,869.51 149 4.48%
5 HSBC 25,475.20 147 4.25%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 32,701.14 156 11.96%
2 Bank of America Merrill Lynch 31,706.88 129 11.60%
3 JPMorgan 29,082.99 133 10.64%
4 Morgan Stanley 19,776.50 105 7.23%
5 Goldman Sachs 16,708.90 173 6.11%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 LBBW 4,741.33 18 6.99%
2 Natixis 4,734.75 17 6.98%
3 Credit Agricole CIB 4,174.25 17 6.16%
4 UniCredit 4,163.16 19 6.14%
5 HSBC 3,974.99 14 5.86%

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 3,425.91 10 11.23%
2 UBS 3,334.58 12 10.93%
3 Barclays 3,229.69 10 10.59%
4 BNP Paribas 2,554.19 12 8.37%
5 HSBC 1,877.94 13 6.16%