Turkish banks target price cuts, lenders fear this is only the start

Emerging market lenders are bracing themselves for a pricing plunge. Two of Turkey’s top tier banks confirmed on Thursday that they are planning to use their spring refinancing loans to undercut the 125bp margin and fees benchmark paid by Garanti in November and demand as low as 100bp all-in.

  • 08 Feb 2013

And prices could be slashed further as the growing strength of Turkey’s economy has made it all but inevitable that the country’s banks will eventually be capable of commanding sub-100bp all-in pricings on their syndicated loans, said lenders.

"It might not happen this time around," said a senior loans ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 11,789.48 61 3.02%
2 UniCredit 9,672.56 77 2.48%
3 BNP Paribas 9,051.42 45 2.32%
4 Commerzbank Group 8,371.43 55 2.14%
5 LBBW 8,178.05 50 2.09%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 105,250.27 441 6.82%
2 Citi 98,660.81 571 6.39%
3 Goldman Sachs 95,673.87 531 6.20%
4 Bank of America Merrill Lynch 93,136.34 403 6.03%
5 JPMorgan 88,684.81 426 5.75%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 84,201.33 440 10.76%
2 Bank of America Merrill Lynch 75,241.97 344 9.62%
3 Morgan Stanley 74,178.45 327 9.48%
4 JPMorgan 74,072.86 330 9.47%
5 Goldman Sachs 73,760.37 449 9.43%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 5,645.35 19 3.14%
2 Credit Agricole CIB 5,608.30 21 3.11%
3 LBBW 5,605.63 20 3.11%
4 SG Corporate & Investment Banking 5,543.24 22 3.08%
5 Commerzbank Group 4,949.16 20 2.75%

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 9,461.63 27 12.31%
2 HSBC 9,014.48 37 11.73%
3 BNP Paribas 6,278.15 28 8.17%
4 Citi 4,542.03 36 5.91%
5 Credit Suisse 4,325.15 22 5.63%