Leeds Building Society breaks sterling drought with well prepared seven year; Clydesdale due

The UK’s Leeds Building Society issued the first sterling denominated covered bond for two months this week. The £250m 4.25% December 2018 was priced on Wednesday at the tight end of Gilts plus 165bp-170bp guidance through joint leads Barclays Capital and HSBC.

  • 10 Jun 2011

The deal followed the borrower’s market leading 10 year which reopened the sterling market last year for domestic issuers.

"The borrower undertook investor meetings recently where the feedback was positive on the name and a worthwhile exercise to update investors," said Mark Pearce at HSBC covered bond syndication.

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 3,560.56 18 6.61%
2 Natixis 3,356.46 14 6.23%
3 Credit Suisse 2,767.40 14 5.14%
4 UBS 2,689.30 14 4.99%
5 LBBW 2,680.25 13 4.97%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 15,879.71 54 6.91%
2 Bank of America Merrill Lynch 15,775.66 42 6.87%
3 Goldman Sachs 15,764.67 66 6.86%
4 JPMorgan 15,640.16 50 6.81%
5 Citi 13,763.10 58 5.99%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 14,692.00 58 10.85%
2 Bank of America Merrill Lynch 14,450.46 36 10.67%
3 JPMorgan 13,926.70 37 10.29%
4 Morgan Stanley 13,389.81 42 9.89%
5 Citi 12,466.23 46 9.21%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 3,073.07 11 9.75%
2 UniCredit 2,350.27 9 7.46%
3 SG Corporate & Investment Banking 2,239.57 9 7.11%
4 UBS 2,070.46 8 6.57%
5 Deutsche Bank 2,015.15 7 6.39%

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 UBS 2,355.83 6 22.77%
2 Credit Agricole CIB 2,031.40 2 19.63%
3 SG Corporate & Investment Banking 1,393.62 3 13.47%
4 Barclays 505.57 3 4.89%
5 JPMorgan 490.48 3 4.74%