Pru wins huge demand for unusual tier two transaction

Prudential's deal was nearly 18 times subscribed on Thursday for an attractively priced tier two, which had an unusual 30 year non-call five maturity structure.

  • By Tyler Davies
  • 04 Jul 2019

The insurance company opened books on the £300m deal through Bank of America, Goldman Sachs, Morgan Stanley and Société Générale,which started the price thoughts in the 410bp area over Gilts.

Having collected more than £3bn of orders by 11.15am in London, the bookrunners ...

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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 57,985.88 283 11.19%
2 Bank of America Merrill Lynch 56,228.96 276 10.85%
3 Citi 51,289.99 281 9.90%
4 Morgan Stanley 41,362.96 206 7.98%
5 Goldman Sachs 36,911.69 353 7.12%

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%