Commerzbank hits 2% sweet spot in ten year

Commerzbank returned with its fourth covered bond deal of the year, and the second off its new mortgage platform. After a plethora of German five and seven year Pfandbriefe, the issuer chose to extend its curve with a rare 10 year.

  • By Bill Thornhill
  • 22 Nov 2013

The 10 year tenor is barely populated by German issuers, as only Hessiche Landesbank and Bayerische Landesbank have priced deals maturing in 2023 this year.

Despite the rare tenor, the transaction competed with NRW, which was out at the same time with a seven year that offered the ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 8,310.39 68 6.26%
2 HSBC 7,890.10 39 5.94%
3 LBBW 7,461.99 41 5.62%
4 Natixis 5,933.30 28 4.47%
5 Barclays 5,557.78 30 4.19%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 42,117.74 211 6.65%
2 Bank of America Merrill Lynch 41,026.62 163 6.48%
3 JPMorgan 36,367.40 177 5.74%
4 HSBC 27,647.03 160 4.36%
5 Morgan Stanley 27,224.67 154 4.30%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 33,860.13 134 11.83%
2 Citi 33,125.84 164 11.58%
3 JPMorgan 29,216.73 136 10.21%
4 Morgan Stanley 19,909.37 108 6.96%
5 Goldman Sachs 17,936.95 177 6.27%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 LBBW 5,089.85 19 7.10%
2 Natixis 4,918.89 18 6.86%
3 HSBC 4,323.51 15 6.03%
4 Credit Agricole CIB 4,174.25 17 5.82%
5 UniCredit 4,163.16 19 5.81%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
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 3,549.81 11 11.28%
2 UBS 3,334.58 12 10.60%
3 Barclays 3,229.69 10 10.26%
4 BNP Paribas 2,554.19 12 8.12%
5 HSBC 1,977.94 14 6.29%