What the market wants: HSBC's LT2 gets investors drooling

Demand for HSBC Holding plc’s new 30 year bullet lower tier two self-led has reached £1.5bn and the issuer is expected to raise £900m later on Tuesday.

  • 23 Mar 2010

The issuer will price the deal at the tight end of the 150bp-155bp over Gilts guidance. It was trading at 140bp in the grey market according to investors. The 150bp spread over Gilts equates to the low 180s over the swaps curve.

“This is the deal the market ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 2,220.67 8 6.41%
2 UniCredit 2,187.22 10 6.31%
3 UBS 2,159.55 11 6.23%
4 Credit Suisse 1,824.93 10 5.26%
5 Barclays 1,806.80 7 5.21%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 12,860.11 26 9.19%
2 Morgan Stanley 11,970.84 27 8.56%
3 Bank of America Merrill Lynch 9,510.22 21 6.80%
4 Barclays 9,168.66 18 6.55%
5 JPMorgan 8,977.54 27 6.42%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 12,192.75 22 13.65%
2 Morgan Stanley 10,994.66 21 12.31%
3 Bank of America Merrill Lynch 9,178.29 19 10.27%
4 JPMorgan 8,170.99 20 9.15%
5 Citi 7,487.94 21 8.38%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 2,071.95 7 9.04%
2 UBS 1,682.16 6 7.34%
3 UniCredit 1,662.07 7 7.25%
4 LBBW 1,541.66 6 6.73%
5 Deutsche Bank 1,380.66 4 6.02%

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 1,031.57 1 27.24%
2 UBS 439.82 3 11.61%
3 Goldman Sachs 356.49 2 9.41%
3 Bank of America Merrill Lynch 356.49 2 9.41%
5 Lloyds Banking Group 249.35 1 6.58%