SocGen completes RAC capital buyback

Société Générale has bought back some 86% of a $1.5bn of a high yielding perpetual subordinated bond which lost its ratings agency benefit after Standard & Poor’s changed its methodology for calculating the equity content of hybrid debt.

  • By Will Caiger-Smith
  • 23 Oct 2013

Investors tendered some €1.285bn of the notes in the buyback exercise, which was launched last week. The terms of the bond permit SocGen to call it at par, which the issuer will do on or around December 16 this year.

But the bank offered holders of the ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 11,671.49 81 5.45%
2 HSBC 10,985.14 63 5.13%
3 LBBW 10,428.35 68 4.87%
4 Natixis 10,056.83 54 4.69%
5 Commerzbank Group 9,739.62 61 4.55%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 76,186.64 322 6.20%
2 Citi 75,613.49 379 6.15%
3 Bank of America Merrill Lynch 74,259.01 285 6.04%
4 Goldman Sachs 68,889.55 569 5.60%
5 Morgan Stanley 63,853.74 351 5.19%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 62,605.42 226 10.75%
2 Bank of America Merrill Lynch 62,147.65 236 10.67%
3 Citi 58,882.83 282 10.11%
4 Goldman Sachs 52,120.22 504 8.95%
5 Morgan Stanley 49,659.14 272 8.53%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 7,428.28 28 7.28%
2 UniCredit 5,756.33 23 5.64%
3 LBBW 5,736.91 24 5.62%
4 Deutsche Bank 5,667.40 19 5.55%
5 Commerzbank Group 5,647.34 22 5.53%

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 HSBC 7,584.11 21 12.84%
2 Barclays 4,776.16 18 8.08%
3 Credit Suisse 4,490.78 15 7.60%
4 BNP Paribas 4,171.68 19 7.06%
5 UBS 3,877.49 18 6.56%