Investors learn to love tight spreads as Nordea shows good regional mix

The highest quality borrowers have voiced concern in the past few weeks that their spreads had reached their lowest limits and they would not be able to attract investors. But Nordea’s €1.5bn five year on Monday used the lack of supply to its advantage and won praise from rival FIG bankers.

  • 09 Apr 2013

The Swedish bank printed the deal at 55bp over mid-swaps, tightened from initial guidance of 60bp area by lead managers Bank of America Merrill Lynch, Credit Suisse, Deutsche Bank, and Goldman Sachs, who joined Nordea’s own investment bank on the syndication.

That represented a new issue premium of around ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 2,220.67 8 6.56%
2 UniCredit 2,187.22 10 6.46%
3 UBS 2,159.55 11 6.38%
4 Credit Suisse 1,824.93 10 5.39%
5 Barclays 1,806.80 7 5.33%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8,258.36 23 8.66%
2 Barclays 7,973.37 14 8.36%
3 Citi 7,569.83 23 7.94%
4 UBS 7,075.76 11 7.42%
5 Wells Fargo Securities 6,724.12 7 7.05%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 7,613.91 18 13.09%
2 Citi 6,904.19 18 11.87%
3 Wells Fargo Securities 6,724.12 7 11.56%
4 Goldman Sachs 4,509.50 15 7.75%
5 Barclays 4,355.61 9 7.49%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 2,071.95 7 9.04%
2 UBS 1,682.16 6 7.34%
3 UniCredit 1,662.07 7 7.25%
4 LBBW 1,541.66 6 6.73%
5 Deutsche Bank 1,380.66 4 6.02%

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 Credit Agricole CIB 1,031.57 1 27.24%
2 UBS 439.82 3 11.61%
3 Goldman Sachs 356.49 2 9.41%
3 Bank of America Merrill Lynch 356.49 2 9.41%
5 Lloyds Banking Group 249.35 1 6.58%