Top stories

  • Santander UK turns to sterling after results

    Santander's UK subsidiary became the latest financial institution from the country to market bonds in sterling on Thursday. The final spread was barely moved from initial thoughts.

    • 26 Apr 2018

  • EU insolvency laws are ‘major obstacle’ to Banking Union, says SRB

    The Single Resolution Board published a statement on Thursday in which it called on EU legislators to support its work in dealing with failing banks by harmonising the region’s various insolvency laws.

    • 26 Apr 2018
  • Canada takes 'hard look' at covered bond limit

    Canada’s office of the superintendent of financial institutions (OSFI) is expected to raise limits on covered bond issuance, paving the way for additional supply from established and new names.

    • 26 Apr 2018
  • Deutsche Bank calls time on global adventure with deep cuts to US business

    Deutsche Bank unveiled another major restructuring on Thursday, rebranding itself as a European bank with global reach, and promising to cut back on local commitments in the US and Asia, as well as slashing US rates, global equities, and prime finance. The announcement came alongside result one analyst described as “a relatively poor set even by Deutsche Bank standards”.

    • 26 Apr 2018
  • Santander hires Jonas to replace Jonas on covered trading

    Santander has hired a new covered bond trader who shares the same name as the trader it recently lost.

    • 25 Apr 2018
  • Skipton scores solid sterling success in covereds

    Skipton Building Society issued its inaugural covered bond on Wednesday at a good size and a fair spread. The sale follows a pattern of wholesale funding diversification for the borrower that began last year.

    • 25 Apr 2018
  • Rural roars with sustainable Cédulas

    Caja Rural de Navarra (CRN) priced the first Spanish covered bond in almost three months flat to its curve and with the highest subscription ratio of any investment grade (IG) covered bond issued this year. The recently upgraded sustainable offering, which was rated six notches above the Kingdom of Spain, also offered a rare spread pick-up over the sovereign.

    • 25 Apr 2018
  • Metro plans bond but analysts focus on equity needs

    Metro Bank, the UK challenger lender, said on Wednesday that it was expecting to issue tier two this year. But analysts thought it was equity that the bank would be pushed to raise, as its common equity tier one (CET1) ratio dropped further.

    • 25 Apr 2018
  • Investors win Lloyds battle but pref share war rages on

    Investors were relieved to hear on Wednesday that Lloyds Bank had no plans to cancel its "iredeemable" preference shares at par, but those invested in the market are fixed on clarifying their position under UK law.

    • 25 Apr 2018
  • European Parliament hoists the green flag

    In the three-legged race that is European lawmaking, one of the legs has just made a big stride forward in sustainable finance policy, publishing the most ambitious plan so far.

    • 24 Apr 2018
  • Sør goes ‘good and tight’ for debut senior

    Sparebanken Sør was able to get a ‘good and tight’ print on its first outing in the euro market for senior unsecured debt on Monday.

    • 24 Apr 2018
Capital markets data from GlobalCapital


Go to GlobalCapital's FIG data pages for the most up to date information on the global financial institution bond markets. Find our FIG bond comments, FIG league tables by Dealogic and our priced deals database.

** NEW **

This now includes all the data from TheCover

Covered Bonds Priced Deals database

Covered Bonds pipeline 

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more FIG bond comments


FIG story archive


The GlobalCapital View logo   Comment

  • It's time for a dollar covered bond resurgence

    The moribund dollar covered bond market is set for a renaissance as the cost advantage compared with other currencies and other sources of wholesale funding has improved. Issuers ought to be renewing alternative sources of demand.

    • 24 Apr 2018

more comment

FIG Priced Deals Database

IssuerMaturitySize
Rabobank26-Apr-21750
Rabobank26-Apr-211000
Virgin Money24-Apr-26350
Phoenix Group Holdings500
Leeds Building Society25-Apr-29200


Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 39,079.96 117 7.06%
2 JPMorgan 36,305.96 133 6.56%
3 Citi 35,381.73 166 6.39%
4 Goldman Sachs 34,077.64 203 6.15%
5 Morgan Stanley 31,276.81 144 5.65%

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,366.81 27 5.60%
2 Credit Suisse 6,294.71 32 5.54%
3 UniCredit 6,112.88 36 5.38%
4 HSBC 5,866.45 33 5.16%
5 LBBW 5,373.19 30 4.72%

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,366.81 27 5.60%
2 Credit Suisse 6,294.71 32 5.54%
3 UniCredit 6,112.88 36 5.38%
4 HSBC 5,866.45 33 5.16%
5 LBBW 5,373.19 30 4.72%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 39,079.96 117 7.06%
2 JPMorgan 36,305.96 133 6.56%
3 Citi 35,381.73 166 6.39%
4 Goldman Sachs 34,077.64 203 6.15%
5 Morgan Stanley 31,276.81 144 5.65%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 31,329.74 93 11.21%
2 Bank of America Merrill Lynch 30,566.41 94 10.93%
3 Citi 28,565.76 128 10.22%
4 Goldman Sachs 26,794.71 174 9.59%
5 Morgan Stanley 25,834.05 111 9.24%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,582.45 20 8.97%
2 Deutsche Bank 4,163.44 13 6.69%
3 UniCredit 3,902.49 16 6.27%
4 LBBW 3,521.48 15 5.66%
5 SG Corporate & Investment Banking 3,368.88 14 5.42%

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 HSBC 4,538.06 9 13.44%
2 UBS 3,374.07 13 9.99%
3 BNP Paribas 2,596.35 10 7.69%
4 Credit Agricole CIB 2,458.47 6 7.28%
5 SG Corporate & Investment Banking 2,055.39 8 6.09%