Concession decline debated as BofA, BFCM print sevens

Some FIG bankers heralded the start of a decline in senior unsecured new issue premia this week after they judged Bank of America had paid less than 10bp for its seven year. But others are adamant that borrowers looking at pre-summer trades will still have to pay double digits for access.

  • By Tom Porter
  • 18 Jul 2013

BofA printed its €1.5bn deal — its first in euros for nearly three years — at 112bp over mid-swaps on Thursday. 

The spread included a single digit premium, according to some bankers, after a two week period where FIG borrowers have paid 15bp-20bp or more for euro funding.

“We could ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 10,283.03 88 6.01%
2 HSBC 9,924.14 51 5.80%
3 LBBW 8,393.04 48 4.91%
4 Natixis 7,239.94 37 4.23%
5 UBS 7,025.55 38 4.11%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 55,206.99 242 6.06%
2 JPMorgan 52,753.76 271 5.79%
3 Citi 52,120.64 279 5.72%
4 Morgan Stanley 41,067.38 223 4.51%
5 HSBC 36,375.06 225 3.99%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 45,511.73 199 11.58%
2 JPMorgan 42,181.52 207 10.73%
3 Citi 40,920.97 214 10.41%
4 Morgan Stanley 30,577.16 152 7.78%
5 Goldman Sachs 27,936.22 261 7.11%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,939.43 23 6.77%
2 LBBW 5,403.66 21 6.16%
3 UniCredit 5,082.55 24 5.79%
4 HSBC 5,076.13 19 5.78%
5 Credit Agricole CIB 4,965.07 22 5.66%

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 6,170.54 15 14.33%
2 UBS 4,233.38 20 9.83%
3 BNP Paribas 3,846.71 16 8.93%
4 Credit Agricole CIB 3,549.81 11 8.24%
5 HSBC 2,321.22 16 5.39%