S&P swings axe on German bank sub debt

Standard & Poor’s this week followed in the footsteps of Moody’s, saying that it had downgraded German bank subordinated debt as a result of the implementation of Germany’s bank reorganisation act. S&P said in a statement that it had downgraded the debt between one and three notches. Moody’s announced its own downgrade of German bank sub debt on February 17.

  • 04 Mar 2011
While the impact of the reorganisation law was priced in at the end of last year, the rating impact of some of the resolution regimes being put in place by various countries is slowly but surely starting to filter through, which could dim further the outlook for the ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 8,974.41 77 6.03%
2 HSBC 8,592.02 43 5.77%
3 LBBW 8,280.86 47 5.56%
4 Barclays 6,490.00 33 4.36%
5 Natixis 6,473.22 31 4.35%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 45,699.73 198 6.19%
2 Citi 45,094.03 234 6.11%
3 JPMorgan 42,002.60 214 5.69%
4 Morgan Stanley 30,716.21 176 4.16%
5 HSBC 30,596.05 184 4.14%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 37,366.87 163 11.44%
2 Citi 35,192.06 179 10.77%
3 JPMorgan 32,929.77 160 10.08%
4 Morgan Stanley 22,531.77 124 6.90%
5 Wells Fargo Securities 22,104.88 95 6.77%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,346.40 20 6.84%
2 LBBW 5,291.48 20 6.77%
3 HSBC 4,549.39 16 5.82%
4 Deutsche Bank 4,534.04 16 5.80%
5 Credit Agricole CIB 4,493.73 19 5.75%

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 16.41%
2 UBS 3,578.43 14 9.90%
3 Credit Agricole CIB 3,549.81 11 9.82%
4 BNP Paribas 2,554.19 12 7.07%
5 HSBC 1,977.94 14 5.47%