BPI covered buyback heralds LM trend

Portugal’s Banco BPI launched the second covered bond tender of the year on Thursday and market participants expect more to follow ahead of the European Central Bank’s second Long Term Refinancing Operation in February.

  • 27 Jan 2012

The issuer is offering a slim premium for its first covered buyback, though rising fears of a Portuguese default could provide an added incentive for investors.

BPI is offering to buy back any and all of its €1bn 3.25% 2015 benchmark at a price of 85, through Citi and ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 9,230.96 80 5.95%
2 HSBC 8,592.02 43 5.54%
3 LBBW 8,280.86 47 5.34%
4 Natixis 6,643.65 32 4.28%
5 Barclays 6,490.00 33 4.18%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 48,901.95 209 6.32%
2 Citi 46,478.69 244 6.01%
3 JPMorgan 43,647.95 226 5.64%
4 Morgan Stanley 32,340.90 187 4.18%
5 HSBC 31,599.60 195 4.08%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 40,205.67 172 11.84%
2 Citi 36,275.01 187 10.68%
3 JPMorgan 34,306.50 169 10.10%
4 Morgan Stanley 23,966.74 133 7.06%
5 Wells Fargo Securities 22,505.90 98 6.63%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,516.84 21 6.98%
2 LBBW 5,291.48 20 6.70%
3 Credit Agricole CIB 4,664.16 20 5.90%
4 HSBC 4,549.39 16 5.76%
5 Deutsche Bank 4,534.04 16 5.74%

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 5,933.32 13 15.77%
2 UBS 3,778.43 15 10.04%
3 BNP Paribas 3,553.97 13 9.44%
4 Credit Agricole CIB 3,549.81 11 9.43%
5 HSBC 1,977.94 14 5.26%