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UBS woos institutions with bullet tier two, others to follow

UBS’s low trigger tier two deal, set to price on August 10, could be a watershed moment for contingent capital. If successful, it will prove that institutional investors are happy to buy structures that incorporate the risk of permanent writedown, bankers said on Thursday.

  • 10 Aug 2012
The US dollar transaction will contribute to the 6% low-trigger progressive capital bucket required by Swiss regulators. It is similar in structure to the $2bn 10 non-call five note the issuer sold in February, in that it will be permanently written down if UBS’s common equity ratio falls ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 HSBC 6,183.34 29 6.90%
2 UniCredit 5,615.53 47 6.27%
3 LBBW 5,057.05 29 5.64%
4 Natixis 4,679.32 21 5.22%
5 Credit Agricole CIB 4,419.88 22 4.93%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Citi 23,301.60 104 7.28%
2 JPMorgan 22,117.83 91 6.91%
3 Bank of America Merrill Lynch 20,331.32 77 6.35%
4 Morgan Stanley 18,204.10 93 5.68%
5 Goldman Sachs 16,419.38 140 5.13%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Bank of America Merrill Lynch 18,781.97 66 11.42%
2 Citi 18,681.44 83 11.36%
3 JPMorgan 18,085.32 74 11.00%
4 Morgan Stanley 15,524.36 71 9.44%
5 Goldman Sachs 14,011.74 123 8.52%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Natixis 3,944.55 14 7.77%
2 HSBC 3,694.64 13 7.28%
3 Credit Agricole CIB 3,475.55 14 6.85%
4 LBBW 3,352.93 13 6.61%
5 Deutsche Bank 2,965.19 11 5.84%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • 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 %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 UBS 2,883.39 8 17.73%
2 Credit Agricole CIB 1,879.91 6 11.56%
3 HSBC 1,217.42 8 7.49%
4 Deutsche Bank 1,011.90 7 6.22%
5 Credit Suisse 868.23 6 5.34%