Financial institutions bond bankers expect that new deal flow will come to a standstill in the primary market at the end of next week, as investors close the lid on an agreeable year for returns.
The European Central Bank has warned that small banks are falling behind their larger peers as they look to build up buffers for the minimum requirements for own funds and eligible liabilities (MREL), despite operating in advantageous market conditions this year.
Financial institutions bond bankers expect that new deal flow will come to a standstill in the primary market at the end of next week, as investors close the lid on an agreeable year for returns.
Caisse de Refinancement de l’Habitat (CRH) returned to the covered bond market on Wednesday to issue a €1bn seven year covered bond but attracted €1.3bn less demand than for its €1bn 10 year, issued in October.
CNP Assurances was well received when it issued a green tier two capital bond on Wednesday, as insurance companies begin to embrace the idea of issuing capital instruments as socially responsible investments.
Crédit Agricole has chosen a new global head of debt capital markets.
Congratulations to the winners of GlobalCapital's Covered Bond Awards 2019.
The European Central Bank has warned that small banks are falling behind their larger peers as they look to build up buffers for the minimum requirements for own funds and eligible liabilities (MREL), despite operating in advantageous market conditions this year.
The European Central Bank has warned that small banks are falling behind their larger peers as they look to build up buffers for the minimum requirements for own funds and eligible liabilities (MREL), despite operating in advantageous market conditions this year.
Caisse de Refinancement de l’Habitat (CRH) returned to the covered bond market on Wednesday to issue a €1bn seven year covered bond but attracted €1.3bn less demand than for its €1bn 10 year, issued in October.
A FIG syndicate manager has left UBS in London as part of a much wider reorganisation.
A FIG syndicate manager has left UBS in London as part of a much wider reorganisation.
Go to GlobalCapital's FIG data pages for league tables and all of the latest information on priced deals, including covered bonds.
View FIG DataThe positive market backdrop has driven smaller and less well-known bank issuers to come forward with rare new bond issues. But they are showing up just as investors pack up for the year, meaning they must work hard to lure enough demand, writes David Freitas.
Investors staged a protest over pricing in the non-preferred senior bond market this week, causing one transaction to fail and putting two others at risk of falling flat. Comfortable with their returns for 2019 and happy to be able to choose from a glut of new bond offerings, funds have simply been happy to divert their attention elsewhere. Tyler Davies reports.
| Rank | Lead Manager | Amount $b | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 86.70 | 453 | 6.02% |
| 2 | Bank of America Merrill Lynch | 84.52 | 420 | 5.87% |
| 3 | Citi | 77.87 | 427 | 5.40% |
| 4 | Morgan Stanley | 67.12 | 372 | 4.66% |
| 5 | HSBC | 55.95 | 362 | 3.88% |
