RMB Deals

Rank Issuer Total Volume Rmb (m) No. of Deals Share % by Volume
1 Hong Kong Mortgage Corp 2,500 1 22.73
2 Bank of China (BOC) 1,800 1 16.36
3 Far East Horizon 1,700 2 15.45
4 Export-Import Bank of Korea (Kexim) 1,500 1 13.64
4 First Abu Dhabi Bank PJSC 1,500 1 13.64

Leveraged Finance Deals

IssuerMaturitySize
Nidda Bondco GmbH 30-Sep-25250
Algeco Global Finance plc 15-Feb-2385
Algeco Global Finance plc 15-Feb-2340
Groupe Ecore Holding SAS 15-Nov-23255
International Design Group SpA 15-Nov-25400

Leveraged Finance Deals Pipeline

IssuerTypeCur.SizeMaturityStatusArrangers
KerneosHY snr sec fixed, floating€335m total€200m min on fixed2021RS Feb 24-27GS

Notes

to finance the acquisition of Kerneos by Astorg Partners

Cabot Financial£105m bridgeHY refi likelyJPM (bridge provider)
FindusHY PIK£rumoured

Notes

to pay £200m dividend

Yioula GlassworksHY165m6NC3investor day heldC
Fresenius€380m still outstanding under bridge€1.8bn initially, €1.42bn repaid
Gamesamulls HY
PrisaHY PIKrumours; to take out loans in restructuring
TDF's French unitauctionGS

Notes

Rexam health care unitauctionB (sell side)

Notes

Netsin auction

Notes

CogetechHY snr sec1655NC2pulled Aug 2, 13BNP, UC, DB
MonierRS in Apr 2012 for €250m bondBNP
Ascometalbridge to HYPulled in Mar/Apr 12BofA, MS
Vivartereceived approval for HYB

Notes

PHSreceived approval for HYB

Notes

Real MadridHYup to €250mrumour

Notes

FIG Deals

DateIssuerMaturitySizeCurrSpreadtoTypeLeadsCountry
24-Feb-21SpareBank 1 Østlandet03-Mar-2850042.0msgreen seniorING/Natixis/Santander/Swedbank/UniCNorway

Coupon

0.125%

Books(m)

800

New Issue Premium

Orders

Ratings

Aa3/—/—

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qqc3x5vtf6fm/banks-mark-four-fold-increase-in-esg-deals-this-year-to-date

24-Feb-21De Volksbank03-Mar-2850065.0msgreen bail-in seniorDB/ING/Natixis/NWM/SantanderNetherlands

Coupon

0.375%

Books(m)

800

New Issue Premium

Orders

Ratings

Baa2/—/A-

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qqc3x5vtf6fm/banks-mark-four-fold-increase-in-esg-deals-this-year-to-date

23-Feb-21NatWest Group26-Mar-30100090.0ms9NC8 social bail-in seniorABN/ING/Natixis/NWM/UniCUK

Coupon

0.78%

Books(m)

4000

New Issue Premium

Orders

Ratings

Baa2/BBB/A

Geographic distribution

UK and Ireland 41%, Germany/Austria/Switzerland 21%, Southern Europe 15%, France 12%, Benelux 7%, Asia Pacific 2%, Nordics 1%, Other 1%

Investor distribution

Fund managers 85%, Banks and private banks 10%, Insurance and pension funds 4%, Central banks/official institutions 1%

Bond comment

https://www.globalcapital.com/article/b1qq89h7w1kcsz/natwest-group-eur1bn-078-9nc8-social-senior

22-Feb-21BPCE03-Mar-21100078.0msbail-in seniorNatixisFrance

Coupon

0.75%

Books(m)

2100

New Issue Premium

Orders

Ratings

Baa2/A-/A

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qnz59s0pnrm6/bpce-keeps-senior-supply-flowing-as-euro-market-softens

22-Feb-21Société Générale01-Mar-411000$160.0USTtier twoBoA/Citi/JP/SG/TDFrance

Coupon

3.625%

Books(m)

New Issue Premium

Orders

Ratings

Baa3/BBB-/BBB

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qnyp6jpptdn0/sg-follows-french-peers-with-20-year-dollar-t2

18-Feb-21BNP Paribas1250$4.6%PNC10 AT1BNPPFrance

Coupon

4.625%

Books(m)

8500

New Issue Premium

Orders

Ratings

Aa3/A+/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qmkytp7h25m2/bnpp-blows-out-with-long-end-at1-in-dollars

18-Feb-21Landsbankinn23-May-2530087.0msgreen seniorABN/BoA/Citi/DBIceland

Coupon

0.375%

Books(m)

1000

New Issue Premium

Orders

Ratings

—/BBB/—

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qm6c5rzh95qn/landsbankinn-sells-green-debut

18-Feb-21Rabobank25-Feb-3375053.0msbail-in seniorBNPP/HSBC/JP/Rabo/UBSNetherlands

Coupon

0.625%

Books(m)

1200

New Issue Premium

Orders

Ratings

Aa3/A+/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qm66r3vcyzmr/rabo-goes-incredibly-tight-for-new-12-year-non-pref

17-Feb-21Rabobank24-Feb-271000$55.0UST6NC5 green bail-in seniorBC/Citi/GS/MS/RaboNetherlands

Coupon

1.106%

Books(m)

New Issue Premium

Orders

Ratings

Aa3/A+/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qm66r3vcyzmr/rabo-goes-incredibly-tight-for-new-12-year-non-pref

17-Feb-21Intesa Sanpaolo24-Feb-31750140.0msbail-in seniorBNP/BoA/DB/IMI/JP/Santander/SGItaly

Coupon

1.35%

Books(m)

1600

New Issue Premium

Orders

Ratings

Baa1/BBB/BBB-

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qm8ml17ks4l4/intesa-makes-eagerly-awaited-non-pref-debut

17-Feb-21Intesa Sanpaolo24-Feb-261000105.0msbail-in seniorBNP/BoA/DB/IMI/JP/Santander/SGItaly

Coupon

0.625%

Books(m)

2400

New Issue Premium

Orders

Ratings

Baa1/BBB/BBB-

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qm8ml17ks4l4/intesa-makes-eagerly-awaited-non-pref-debut

17-Feb-21ING Groep07-Dec-28800£95.0Gilts8NC7 green seniorBNP/ING/NWM/Santander/SC/TDNetherlands

Coupon

1.245%

Books(m)

1250

New Issue Premium

Orders

Ratings

Baa1/A-/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qlrrs7z5yqg2/ing-gives-sterling-investors-greens-to-chew-on

17-Feb-21DNB Bank23-Feb-29100053.0ms8NC7 bail-in seniorBoA/Citi/DNB/HSBC/NomuraNorway

Coupon

0.25%

Books(m)

1400

New Issue Premium

Orders

Ratings

Aa2/AA-/–

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qm8xmbvjtwjh/bank-senior-market-enjoys-busiest-week-of-2021

16-Feb-21UBS Group24-Feb-31125065.0msseniorUBSSwitzerland

Coupon

0.625%

Books(m)

3000

New Issue Premium

Orders

Ratings

—/A-/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qlb9z0p7qq8s/ubs-and-santander-test-three-points-on-senior-curve

16-Feb-21UBS Group24-Feb-28100055.0msseniorUBS/Danske/Erste/LBBW/SG/Swedbank/UniCSwitzerland

Coupon

0.25%

Books(m)

2900

New Issue Premium

Orders

Ratings

—/A-/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qlb9z0p7qq8s/ubs-and-santander-test-three-points-on-senior-curve

16-Feb-21Santander Consumer Finance23-Feb-2650045.0msseniorBoA/HSBC/ING/Santander/SGSpain

Coupon

0%

Books(m)

2250

New Issue Premium

Orders

Ratings

A2/A-/A-

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qlb9z0p7qq8s/ubs-and-santander-test-three-points-on-senior-curve

15-Feb-21Deutsche Kreditbank23-Feb-2650035.0msgreen seniorABN/BayernLB/CMZ/CA/UniCGermany

Coupon

0.01%

Books(m)

1200

New Issue Premium

Orders

Ratings

A1/—/—

Geographic distribution

Germany 53%, Benelux 19%, Southern Europe 8%, Nordics 6%, Asia 4%, France 4%, UK and Ireland 3%, Austria and Switzerland 2%, Other 1%

Investor distribution

Asset managers 42%, Banks 39%, Central banks and official institutions 15%, Insurance and pension funds 2%, Other 2%

Bond comment

https://www.globalcapital.com/article/b1qmbf9zf6g4jc/dkb-becomes-first-fig-issuer-to-cross-negative-yield-line

15-Feb-21Nykredit Realkredit17-Jan-2875070.0msgreen bail-in seniorBNPP/Erste/JP/Natixis/NykreditDenmark

Coupon

0.375%

Books(m)

1500

New Issue Premium

Orders

Ratings

—/BBB+/A

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qkw6zh27qxlh/nykredit-taps-sevens-for-bail-in-debt

11-Feb-21Deutsche Bank22-Dec-28600£168.0Giltsshort 8NC7 bail-in seniorDBGermany

Coupon

1.875%

Books(m)

2900

New Issue Premium

Orders

Ratings

A3/BBB+/BBB+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qj33y01bl429/deutsche-treats-sterling-market-with-rare-fig-supply

11-Feb-21SpareBank 1 SMN18-Feb-2850040.0msgreen seniorDanske/ING/Santander/SG/UniCreditNorway

Coupon

0.01%

Books(m)

1500

New Issue Premium

Orders

Ratings

A1/—/—

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qj3h1jw4gy8v/sparebank-1-smn-to-spark-green-flurry

08-Feb-21Aareal Bank23-Nov-2720063.0mssenior tapCMZ/Deka/DZ/GS/HSBCGermany

Coupon

0.25%

Books(m)

200

New Issue Premium

Orders

Ratings

—/—/A-

Geographic distribution

Investor distribution

Bond comment

08-Feb-21Deutsche Bank17-Feb-271500120.0ms6NC5 bail-in seniorDBGermany

Coupon

0.75%

Books(m)

4200

New Issue Premium

Orders

Ratings

A3/BBB+/BBB+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qgs7lp6wv192/deutsche-rides-results-optimism-with-blowout-trade

08-Feb-21Deutsche Bank17-Feb-321500150.0ms11NC10 bail-in seniorDBGermany

Coupon

1.375%

Books(m)

3400

New Issue Premium

Orders

Ratings

A3/BBB+/BBB+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qgs7lp6wv192/deutsche-rides-results-optimism-with-blowout-trade

08-Feb-21JP Morgan17-Feb-33150065.0ms12NC11 bail-in seniorJPUS

Coupon

0.597%

Books(m)

3300

New Issue Premium

Orders

Ratings

A2/A-/AA-

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qgsggw04y87x/jp-follows-us-peers-with-diversification-trade-in-euros

08-Feb-21Danske Bank15-May-31750140.0ms10.25NC5.25 tier twoBC/BNPP/CA/CS/DanskeDenmark

Coupon

1%

Books(m)

2000

New Issue Premium

Orders

Ratings

A3/A/A

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qgsq197b69lf/danske-lands-flat-to-fair-value-with-post-results-t2

05-Feb-21Banco Comercial Portugues12-Feb-26500155.0ms6NC5 seniorBoA/CA/CS/DB/BCPPortugal

Coupon

1.125%

Books(m)

1000

New Issue Premium

Orders

Ratings

Ba1/—/BB

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qfg6tgpy4b6m/bcp-hits-senior-market-for-first-time-in-seven-years

04-Feb-21Santander11-Feb-28125052.0msseniorCMZ/CA/Natixis/NW/Nomura/SantanderSpain

Coupon

0.2%

Books(m)

3000

New Issue Premium

Orders

Ratings

A2/A/A-

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qf1m3497szk2/belfius-and-santander-hit-senior-market-for-sevens

03-Feb-21BayernLB10-Feb-2850053.0msgreen bail-in seniorBayernLB/Citi/DZ/NW/SG/UniCGermany

Coupon

0.125%

Books(m)

2100

New Issue Premium

Orders

Ratings

Aa3/—/-

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qf1p3j7wjsfs/caixa-and-bayernlb-go-green-as-euro-market-turns-a-corner

03-Feb-21Morgan Stanley07-Feb-31175070.0ms10NC9 bail-in seniorMS/MUFGUS

Coupon

0.497%

Books(m)

3600

New Issue Premium

Orders

Ratings

A1/BBB+A

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qf0m9t6ttwwc/morgan-stanley-surprises-investors-with-euro-trip

02-Feb-21CaixaBank09-Feb-29100090.0ms8NC7 green bail-in seniorABN/Caixa/G/Natixis/UBSSpain

Coupon

0.5%

Books(m)

3700

New Issue Premium

Orders

Ratings

Baa1/BBB+/A

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qd3xp80lk8tf/caixa-goes-green-as-demand-sprouts-in-euros

02-Feb-21UBS AG09-Feb-241000$36.0Sofrsenior FRNUBSSwitzerland

Coupon

Sofr+36bp

Books(m)

New Issue Premium

Orders

Ratings

Aa3/A+/AA-

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qd40mwsdgq5g/ubs-doubles-up-in-dollars-with-capital-and-senior

02-Feb-21UBS AG09-Feb-241000$30.0USTseniorUBSSwitzerland

Coupon

0.45%

Books(m)

New Issue Premium

Orders

Ratings

Aa3/A+/AA-

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qd40mwsdgq5g/ubs-doubles-up-in-dollars-with-capital-and-senior

02-Feb-21UBS Group11-Feb-322000$100.0UST11NC10 bail-in seniorUBSSwitzerland

Coupon

2.095%

Books(m)

New Issue Premium

Orders

Ratings

—/A-/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qd40mwsdgq5g/ubs-doubles-up-in-dollars-with-capital-and-senior

01-Feb-21UBS Group1500$4.4%PNC10 AT1UBSSwitzerland

Coupon

4.375%

Books(m)

New Issue Premium

Orders

Ratings

—/A-/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qd40mwsdgq5g/ubs-doubles-up-in-dollars-with-capital-and-senior

01-Feb-21Belfius Bank08-Feb-2850050.0msseniorBelfius/BNPP/DZ/Erste/MSBelgium

Coupon

0.125%

Books(m)

2000

New Issue Premium

Orders

Ratings

A1/A-/A-

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1qcp5605wbzvj/investors-swoon-to-belfius-as-supply-scarcity-feared

27-Jan-21ANZ Banking Group05-May-31750112.0ms10.25NC5.25 tier two SDGANZ/BC/BNPP/DB/HSBC/UBSAustralia

Coupon

0.669%

Books(m)

2500

New Issue Premium

Orders

Ratings

Aa3/AA-/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1q9h00bd3fpyh/anz-prints-sophomore-sustainable-tier-two-in-euros

26-Jan-21Credit Suisse (NY)02-Feb-241000$32.0USTseniorCSSwitzerland

Coupon

0.495%

Books(m)

New Issue Premium

Orders

Ratings

Aa3/—/A

Geographic distribution

Investor distribution

Bond comment

26-Jan-21Credit Suisse (NY)02-Feb-241000$39.0Sofrsenior FRNCSSwitzerland

Coupon

Sofr+39bp

Books(m)

New Issue Premium

Orders

Ratings

Aa3/—/A

Geographic distribution

Investor distribution

Bond comment

26-Jan-21Credit Suisse (NY)02-Feb-272000$90.0UST6NC5 seniorCSSwitzerland

Coupon

1.305%

Books(m)

New Issue Premium

Orders

Ratings

Aa3/—/A

Geographic distribution

Investor distribution

Bond comment

26-Jan-21La Banque Postale02-Aug-32500123.0ms11.5NC6.5 tier twoBC/CMZ/LBP/MS/SGFrance

Coupon

0.75%

Books(m)

1600

New Issue Premium

Orders

Ratings

—/A/A-

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1q91g1flntx4l/lbp-prints-second-tier-two-in-three-months

25-Jan-21Deutsche Pfandbriefbank02-Feb-2650055.0msgreen seniorBC/CA/Deka/DZ/UBSGermany

Coupon

0.1%

Books(m)

1200

New Issue Premium

Orders

Ratings

—/A-/—

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1q8ln61dzr1zl/deutsche-pbb-lands-debut-deal-in-green-senior-market

21-Jan-21Goldman Sachs26-Jan-28175098.0msbail-in seniorGDUS

Coupon

0.25%

Books(m)

4000

New Issue Premium

Orders

Ratings

A3/BBB-/A

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1q6twkd7rvlfr/goldman-lands-175bn-as-bank-senior-spreads-recover

19-Jan-21Oberbank26-Jan-2925098.0msbail-in seniorDZ/Erste/Helaba/RBIAustria

Coupon

0.625%

Books(m)

470

New Issue Premium

Orders

Ratings

—/A/—

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1q5ygf23hv2f3/oberbank-debuts-in-senior-non-preferred

19-Jan-21BNP Paribas26-Jan-411250$118.0USTtier twoBNPPFrance

Coupon

2.824%

Books(m)

New Issue Premium

Orders

Ratings

Aa3/AA-/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1q6d68vmwblk4/higher-rates-and-execution-certainty-aid-yankee-bank-issuance

19-Jan-21Crédit Agricole26-Jan-271500$80.0UST6NC5 bail-in seniorCAFrance

Coupon

1.247%

Books(m)

New Issue Premium

Orders

Ratings

Baa1/A-/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1q6d68vmwblk4/higher-rates-and-execution-certainty-aid-yankee-bank-issuance

14-Jan-21Nationwide Building Society22-Jan-241250$37.0USTseniorBoA/Citi/JP/NWUK

Coupon

0.55%

Books(m)

New Issue Premium

Orders

Ratings

A1/A+/A

Geographic distribution

Investor distribution

Bond comment

12-Jan-21UniCredit19-Jan-311000105.0msseniorUniCreditItaly

Coupon

0.85%

Books(m)

1500

New Issue Premium

5bp

Orders

Ratings

Baa1/BBB/BB-

Geographic distribution

Germany and Austria 27%, France 23%, Italy 18%, UK 15%, Other 10%, Iberia 7%

Investor distribution

Funds 62%, Banks 33%, Insurance 5%

Bond comment

https://www.globalcapital.com/article/b1q3tzynm8fnrk/unicredit-eur1bn-0325-jan-26-eur1bn-085-jan-2031

12-Jan-21UniCredit19-Jan-26100077.0msseniorUniCreditItaly

Coupon

0.325%

Books(m)

1500

New Issue Premium

5bp

Orders

Ratings

Baa1/BBB/BB-

Geographic distribution

Germany and Austria 27%, Italy 23%, France 19%, UK 10%, Iberia 8%, Other 13%

Investor distribution

Funds 61%, Banks 36%, Insurance 2%, Others 1%

Bond comment

https://www.globalcapital.com/article/b1q3tzynm8fnrk/unicredit-eur1bn-0325-jan-26-eur1bn-085-jan-2031

12-Jan-21Banco BPM4006.5%PNC5 AT1Akros/BC/BNPP/Citi/GS/Mediobanca/UBSItaly

Coupon

6.5%

Books(m)

560

New Issue Premium

Orders

Ratings

B3/—/—

Geographic distribution

UK 44%, Italy 31%, France 11%, Others 14%

Investor distribution

Asset managers 70%, Hedge funds 16%, Banks 10%, Others 4%

Bond comment

https://www.globalcapital.com/article/b1q3tyblktjnd6/banco-bpm-eur400m-65-pnc5-at1

12-Jan-21BNP Paribas19-Jan-31100083.0msbail-in seniorBNPPFrance

Coupon

0.5%

Books(m)

1600

New Issue Premium

Orders

Ratings

Baa1/A-/A+

Geographic distribution

Investor distribution

Bond comment

https://www.globalcapital.com/article/b1q2vz8vpfb05n/bnp-paribas-locks-in-snp-funding-at-near-term-tights

Securitization

Europe CLOs Priced Deals

IssuerArrangerSize ($M)
BlackRock Investment Management Credit Suisse462.20
Oaktree Capital ManagementCiti448.20
SankatyBarclays457.97
GSO Capital PartnersBAML449.87
Apollo Management InternationalDeutsche Bank493.50

US CLOs Priced Deals

IssuerArrangerSize ($M)
Brightwood Capital AdvisorsNatixis652.80
Trinitas Capital ManagementWells Fargo406.65
Black Diamond AdviserJP Morgan359.60
Zais Leveraged Loan ManagerRBC280.70
Sound Point Capital ManagementCredit Suisse512.50

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 92.59 388 8.96%
2 Citi 85.30 278 8.25%
3 BofA Securities 63.15 265 6.11%
4 Barclays 58.01 223 5.61%
5 Deutsche Bank 55.74 184 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 60.87 123 14.06%
2 Credit Agricole CIB 28.59 93 6.60%
3 Santander 25.41 90 5.87%
4 JPMorgan 23.88 61 5.52%
5 UniCredit 21.51 103 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2.07 11 10.42%
2 BofA Securities 1.40 6 7.01%
3 Citi 1.37 7 6.87%
4 Morgan Stanley 1.36 6 6.85%
5 JPMorgan 1.31 7 6.59%