BNPP dodges China with US focused trade

BNP Paribas played it safe on Wednesday, printing its $1.5bn AT1 in US hours to avoid any potential fall-out from the China related sell-off.

  • By Virginia Furness
  • 13 Aug 2015

China's second currency devaluation in two days caused a sharp sell-off in equities and bonds on Wednesday, meaning that conditions looked less than ideal for BNP Paribas’ deal.

The trade, which had been announced on Monday was widely expected on Wednesday after Tuesday’s investor calls.

But ...

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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 11,694.44 97 6.03%
2 HSBC 11,111.48 60 5.73%
3 LBBW 9,011.90 53 4.65%
4 UBS 8,078.41 47 4.16%
5 Natixis 7,644.64 40 3.94%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 73,204.36 371 6.09%
2 Bank of America Merrill Lynch 69,564.17 331 5.79%
3 Citi 63,983.51 361 5.32%
4 Morgan Stanley 56,242.30 296 4.68%
5 Goldman Sachs 49,250.67 418 4.10%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 58,025.88 284 11.20%
2 Bank of America Merrill Lynch 56,278.96 276 10.86%
3 Citi 51,335.67 282 9.91%
4 Morgan Stanley 41,362.96 206 7.98%
5 Goldman Sachs 36,911.69 353 7.12%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 6,344.57 31 6.38%
2 Natixis 6,233.11 25 6.26%
3 Credit Agricole CIB 5,863.28 26 5.89%
4 LBBW 5,801.16 24 5.83%
5 HSBC 5,646.37 23 5.68%

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 6,650.85 19 11.22%
2 UBS 5,041.69 27 8.50%
3 BNP Paribas 4,750.73 23 8.01%
4 JPMorgan 4,061.30 31 6.85%
5 Credit Suisse 3,901.61 15 6.58%