RBS targets capital, calls with exchange

Royal Bank of Scotland is offering holders of tier two paper coming up for call this year a chance to swap into new notes, in a deal that is designed to improve the quality of the UK bank’s capital as well as being an investor relations exercise.

  • 29 Feb 2012

The exchange offer comes a month before a European Union-imposed moratorium on the bank calling bonds is lifted. European state aid rules have prohibited RBS calling subordinated notes until April this year. Despite that prohibition lifting, RBS is unlikely to call eligible notes, analysts at CreditSights reckon.

The ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 6,183.34 29 6.59%
2 UniCredit 5,615.53 47 5.98%
3 LBBW 5,509.16 31 5.87%
4 Natixis 4,708.38 22 5.02%
5 Barclays 4,483.66 25 4.78%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 23,911.57 111 7.14%
2 JPMorgan 22,809.86 95 6.81%
3 Bank of America Merrill Lynch 20,873.29 79 6.23%
4 Morgan Stanley 18,692.40 97 5.58%
5 Goldman Sachs 16,682.64 142 4.98%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 19,182.80 67 11.46%
2 Citi 18,801.44 86 11.23%
3 JPMorgan 18,170.32 75 10.85%
4 Morgan Stanley 15,609.36 72 9.32%
5 Goldman Sachs 14,161.74 124 8.46%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 3,944.55 14 7.52%
2 HSBC 3,694.64 13 7.04%
3 LBBW 3,692.39 14 7.04%
4 Credit Agricole CIB 3,475.55 14 6.63%
5 Deutsche Bank 3,304.65 12 6.30%

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 3,286.19 8 17.05%
2 UBS 2,883.39 8 14.96%
3 HSBC 1,533.23 10 7.96%
4 Deutsche Bank 1,178.57 8 6.12%
5 BNP Paribas 921.79 8 4.78%