Dexia’s UT2 rating slashed as coupon is skipped

Standard & Poor’s downgraded Dexia Bank’s Eu228.674m 6.25% upper tier two bonds from B to CC on Tuesday afternoon, following the announcement by the bank on Monday that it would not be paying coupons on the securities, following pressure from the European Commission.

  • 11 Nov 2009

The coupons were due to be paid on November 18 and were discretionary.

There were questions last week as to whether the bank would be able to pay the coupons on the bonds. While Dexia has been clear on callability and payment of certain other instruments, it said ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 11,789.48 61 6.03%
2 UniCredit 9,672.56 77 4.94%
3 BNP Paribas 9,051.42 45 4.63%
4 Commerzbank Group 8,371.43 55 4.28%
5 LBBW 8,276.69 51 4.23%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 105,250.27 441 6.82%
2 Citi 98,660.81 571 6.39%
3 Goldman Sachs 95,673.87 531 6.20%
4 Bank of America Merrill Lynch 93,136.34 403 6.03%
5 JPMorgan 88,684.81 426 5.75%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 84,201.33 440 10.76%
2 Bank of America Merrill Lynch 75,241.97 344 9.62%
3 Morgan Stanley 74,178.45 327 9.48%
4 JPMorgan 74,072.86 330 9.47%
5 Goldman Sachs 73,760.37 449 9.43%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 5,645.35 19 6.27%
2 Credit Agricole CIB 5,608.30 21 6.23%
3 LBBW 5,605.63 20 6.23%
4 SG Corporate & Investment Banking 5,543.24 22 6.16%
5 Commerzbank Group 4,949.16 20 5.50%

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 9,461.63 27 12.16%
2 HSBC 9,214.48 38 11.84%
3 BNP Paribas 6,278.15 28 8.07%
4 Citi 4,542.03 36 5.84%
5 Credit Suisse 4,325.15 22 5.56%