Banks set clear pricing lines on debut Saxo tier two

The lead managers running Saxo Bank’s debut tier two transaction took an innovative approach to pricing this week, setting out a clear range for investors before the books had even been opened.

  • By Tyler Davies
  • 27 Jun 2019

The Danish challenger bank said on Tuesday that it had hired BNP Paribas and JP Morgan to sell a 10 year non-call five tier two.

But unusually at this stage, the bookrunners told market participants that Saxo was expecting to price its deal “in the context ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 11,332.79 95 5.96%
2 HSBC 10,972.62 59 5.77%
3 LBBW 9,011.90 53 4.74%
4 Natixis 7,644.64 40 4.02%
5 UBS 7,552.91 45 3.97%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 73,095.56 369 6.12%
2 Bank of America Merrill Lynch 69,514.17 331 5.82%
3 Citi 63,937.83 360 5.36%
4 Morgan Stanley 55,986.39 294 4.69%
5 Goldman Sachs 49,140.25 417 4.12%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 57,936.14 283 11.20%
2 Bank of America Merrill Lynch 56,228.96 276 10.87%
3 Citi 51,289.99 281 9.92%
4 Morgan Stanley 41,313.23 206 7.99%
5 Goldman Sachs 36,684.69 352 7.09%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,233.11 25 6.44%
2 UniCredit 5,982.92 29 6.19%
3 LBBW 5,801.16 24 6.00%
4 Credit Agricole CIB 5,587.66 25 5.78%
5 HSBC 5,507.50 22 5.69%

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 11.26%
2 UBS 5,041.69 27 8.67%
3 BNP Paribas 4,643.73 22 7.99%
4 JPMorgan 3,983.89 30 6.85%
5 Credit Suisse 3,901.61 15 6.71%