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FIG

Spread movement discouraging issuers in senior

Uncertainty over the economic outlook for peripheral Europe hurt the senior unsecured market on Monday, with rising yields in Spanish and Italian government debt putting pressure on secondary cash spreads. Bankers said none of the senior transactions issued over the past months were tighter than re-offer, adding that issuers were discouraged from primary issuance by the widening, even though the market was still open.

  • 16 Apr 2012

“The shorts don’t want to go any shorter for fear of some huge wham-bam solution to the crisis, and the long guys don’t want to go any longer for fear of a crash,” said one banker of the widening spreads in the secondary market.

The iTraxx senior financials index ...

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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 UniCredit 8,310.39 68 6.26%
2 HSBC 7,890.10 39 5.94%
3 LBBW 7,461.99 41 5.62%
4 Natixis 5,933.30 28 4.47%
5 Barclays 5,557.78 30 4.18%

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 42,113.29 211 6.63%
2 Bank of America Merrill Lynch 41,206.10 165 6.49%
3 JPMorgan 36,462.94 178 5.74%
4 HSBC 27,798.67 162 4.38%
5 Morgan Stanley 27,224.67 154 4.29%

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 33,960.13 135 11.85%
2 Citi 33,121.38 164 11.55%
3 JPMorgan 29,312.27 137 10.23%
4 Morgan Stanley 19,909.37 108 6.95%
5 Goldman Sachs 17,936.95 177 6.26%

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 LBBW 5,089.85 19 7.10%
2 Natixis 4,918.89 18 6.86%
3 HSBC 4,323.51 15 6.03%
4 Credit Agricole CIB 4,174.25 17 5.82%
5 UniCredit 4,163.16 19 5.81%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
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 Credit Agricole CIB 3,549.81 11 11.28%
2 UBS 3,334.58 12 10.60%
3 Barclays 3,229.69 10 10.26%
4 BNP Paribas 2,554.19 12 8.12%
5 HSBC 1,977.94 14 6.29%