Lloyds Banking Group Top Stories-
BoE raises UK bank capital requirements with ‘Brexit buffer’
The Bank of England said it will increase the countercyclical buffer by 100bp for UK banks after disclosing the results of its latest stress test this week. As the sector performed well in the test, the new capital requirements are being interpreted as a ‘Brexit buffer’ to help institutions withstand the risk of economic turmoil at the end of 2020.
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Buy-siders reject CCP auction proposals in IOSCO soundings
Buy and sell-side firms have rejected suggestions that they should have to post additional margin or participate in default funds in the aftermath of last year’s default at Nasdaq clearing.
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People moves in brief
UBS replaces EMEA president — Lloyds loses PP agent — Deutsche Bank reorganises treasury team
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PP agent leaves Lloyds for rival
A private debt banker for Lloyds Securities in New York has left the bank, with one source suggesting he will start covering US private placements (US PP) for another arranger.
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Years after Libor scandal, experts argue benchmark should stay
As the market prepares for Libors to end their run as the world’s most prevalent reference rates, there is growing support for the benchmarks to be reprieved.
Latest market news
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Kensington, Close Brothers bring sterling deals as spreads tighten
Kensington is bringing a non-standard UK prime RMBS from its Finsbury Square shelf as spreads on UK RMBS continue to tighten in the first weeks of 2020. Meanwhile, Close Brothers is also returning with a new Orbita Funding UK Auto ABS transaction.
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Lloyds tracks RBC into soaring Sonia mart
Lloyds Bank returned to the sterling covered bond market on Monday with its first deal of 2020. It capitalised on the scarcity of short-dated Sonia supply with the first three year bond from a UK issuer in six months, which helped it to price its deal marginally inside fair value.
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FIG issuers to pay ‘coronavirus premium’ to access market post-earnings
Syndicate bankers argue that financial institutions will need to pay a premium to access the bond market in the next couple of weeks, as investors fret about the potential impact of the outbreak of coronavirus in China.
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LBCM brings senior as UK banks return to euros
Greater clarity over Brexit is allowing UK banks to enjoy a warm reception in euros at the start of 2020, with Lloyds Bank Corporate Markets following two of its peers into the market this week.
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Nationwide targets sterling senior amid welcoming conditions
Nationwide Building Society launched a three year preferred senior bond in sterling on Friday, with the trade’s success coming as 'no surprise' amid a favourable backdrop in the currency.
Lloyds Banking Group In The Key League Tables
| Asset | Rank | STLY | Amount $bn | No of issues | Share % | STLY Share % |
|---|---|---|---|---|---|---|
|
|
||||||
| Bookrunners of Global FIG | 17 | 1.45 | 3 | 2.04% | ||
| Syndicated Loan Revenue - EMEA | 18 | 18 | 0.01 | 18 | 1.81% | 1.69% |
| All Sterling Bonds | 3 | 9 | 1.45 | 3 | 9.26% | 4.91% |
| Bookrunners of Dollar Denominated FIG | 23 | 0.30 | 1 | 0.90% | ||
| Bookrunners of Dollar Corporate Investment Grade Bonds | 25 | 19 | 0.30 | 1 | 0.76% | 1.05% |
| Bookrunners of European DCM | 22 | 38 | 1.75 | 5 | 1.54% | 0.39% |
| Bookrunners of Global Covered Bonds | 13 | 16 | 0.60 | 3 | 3.94% | 2.60% |
| Bookrunners of Euro Denominated Covered Bond Above €500m | 19 | 0.14 | 1 | 1.29% | ||
| Bookrunners of European Structured Finance | 7 | 4.99 | 18 | 4.54% | ||
| Dealer League Table UK | 10 | 1.42 | 1 | 5.03% | ||
| Dealer League Table L-Bank | 1 | 0.14 | 1 | 16.67% | ||
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Bank Profiles
Latest news by market and league table performance
Bond Comments
-
LBBW GBP500m 1.5% Jan 25 bail-in senior green
-
Société Générale EUR1.5bn 0.75% Jan 27 bail-in senior
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KBC Group EUR500m 0.75% Jan 30 bail-in senior
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Banca Monte dei Paschi di Siena €500m 2.625% senior
-
Erste Group EUR500m 3.375% PNC Apr 27 AT1
-
EIB GBP750m 0.75% Jul 27
-
CPPIB Capital GBP500m 0.875% Dec 24
-
NWB EUR1bn 0.05% Jan 30
-
ADB EUR1bn 0.025% Jan 30
-
EIB USD1bn FRN Jan 23
-
UniCredit €1.25bn 1.2% Jan 26 6NC5, €750m 1.8% Jan 30 bail-in senior
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Banca Monte dei Paschi di Siena €400m 8% 10NC5 tier two
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IDA GBP1.5bn 0.75% Dec 24
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Italy EUR7bn 2.45% Sep 50
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Belgium EUR6bn 0.1% Jun 30
All International Bonds
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 44.89 | 154 | 8.67% |
| 2 | JPMorgan | 38.43 | 144 | 7.42% |
| 3 | BofA Securities | 30.55 | 121 | 5.90% |
| 4 | Barclays | 29.38 | 116 | 5.68% |
| 5 | Goldman Sachs | 25.17 | 88 | 4.86% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 0.69 | 5 | 12.72% |
| 2 | Goldman Sachs | 0.59 | 2 | 10.80% |
| 3 | BofA Securities | 0.52 | 4 | 9.65% |
| 4 | Credit Suisse | 0.48 | 3 | 8.80% |
| 5 | Sumitomo Mitsui Financial Group | 0.36 | 3 | 6.59% |
Bookrunners of all EMEA ECM Issuance
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | Morgan Stanley | 1.17 | 7 | 12.02% |
| 2 | JPMorgan | 1.06 | 8 | 10.91% |
| 3 | Citi | 0.98 | 7 | 10.10% |
| 4 | Goldman Sachs | 0.84 | 4 | 8.68% |
| 5 | Barclays | 0.78 | 8 | 7.99% |
