Dollar Denominated Covered Bond Issues Have Banks Scrambling For Coverage

Foreign issuers marketing new dollar denominated covered bonds are causing U.S. banks to scramble to locate secondary trading for the asset class within their existing desks.

  • 28 Sep 2010

--Amelia Granger

Foreign issuers marketing new dollar denominated covered bonds are causing U.S. banks to scramble to locate secondary trading for the asset class within their existing desks.

Barclays Capital, Deutsche Bank and Bank of America Merrill Lynch are all trading the Yankee covered bonds off their agency desks. ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 81,261.11 236 11.54%
2 Bank of America Merrill Lynch 66,433.81 187 9.43%
3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%