Northern Rock Plans U.S. Covered Bond Debut

Northern Rock Building Society is planning its first U.S. dollar-denominated covered bond issue.

  • 02 May 2007

--Cathy Cunningham

Northern Rock Building Society is planning its first U.S. dollar-denominated covered bond issue. The U.K –based company already issues three to four covered bonds in Europe each year and now plans on making its mark on the other side of the pond. “Covered bonds are a useful ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 17.31
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.93
3 Citi 8,264 22 9.37
4 Lloyds Bank 7,329 24 8.31
5 JP Morgan 6,580 10 7.46

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 130,010.09 379 11.12%
2 Bank of America Merrill Lynch 104,113.90 304 8.90%
3 JPMorgan 102,778.33 300 8.79%
4 Wells Fargo Securities 93,728.92 276 8.01%
5 Credit Suisse 76,904.09 209 6.58%