Top News
-
Superb covered bond deserve your vote
Please cast your confidential vote for all or any of the last nine euro covered bond benchmarks issued last week and before - including those issued by Banco BPI, Credit Agricole Italia, Nordea, BPER Banca and Stadshypotek.
-
Skipton sets eyes on Sonia first
Skipton Building Society has mandated leads for its first Sonia-linked covered bond. The issuer follows National Westminster Bank and takes advantage of an improvement in sentiment that followed a UK Parliament vote last week.
-
CaixaBank prices preferred flat to curve
CaixaBank took advantage of strong market conditions to issue a €1bn seven year senior preferred transaction on Tuesday with strong demand allowing the issuer to price flat to its curve. At the same time, RBS opened order books for a dollar-denominated five year senior deal.
-
BBVA plans ahead in AT1
BBVA was set to replenish its additional tier one (AT1) capital base on Tuesday, launching a deal designed to give it more options when it comes to calling outstanding bonds.
Latest News
-
Three banks push out tier twos on super Tuesday
Danske Bank and Crédit Agricole took a combined €2bn of tier two debt out of the market on Tuesday, while Bawag was also active on a busy day for FIG syndicates.
-
VUB issues first Slovakian covered bond benchmark
Slovak Vseobecna uverova banka (VUB) attracted a €2.5bn orderbook from 160 mostly new investors on Tuesday for its first benchmark covered bond and the debut benchmark from Slovakia. The deal sends a strong signal to other borrowers in the country, where several banks are understood to be lining up, and shows that the covered bond market is open and ready for their business.
-
The perverse logic of Deutsche-Commerzbank
The potential merger between Deutsche Bank and Commerzbank has been repeatedly panned since it was first floated, with good reason. But at the level of the whole German banking system, there is a certain logic to it.
-
KfW would provide Deutschmerz exit for German gov
KfW, the German state-owned development bank, could be used to support the merged entity of Deutsche Bank and Commerzbank by taking on the government's stake in the latter.
-
FIS plans $11bn debt raise for Worldpay purchase
The US’ FIS will buy the formerly RBS-owned Worldpay in a debt-funded $43bn transaction, in a deal to form one of the biggest financial services technology and payment companies in the world.
-
UK trio hit covered bonds as Brexit woes recede
Lloyds Bank and National Westminster Bank issued exceptionally well subscribed covered bonds respectively in euros and sterling on Monday as Virgin Money announced roadshow plans for its debut deal. The three borrowers took advantage of the UK Parliamentary vote to avert a ‘no deal’ Brexit.
-
Bankia blows out as credit markets march on
Bankia used €6bn of demand on Monday to launch a new senior bond at a spread that was tighter than the fair value implied by on-looking bankers. SpareBank 1 SR-Bank was also active in euros at the beginning of the week, as credit markets got off to a flying start on the back of a recent rally.
-
BNP Paribas gets started on 2019 debt capital goals
BNP Paribas opened books on a new additional tier one in dollars on Monday, having told the market that it would be looking to raise an equivalent of €3bn of subordinated debt in 2019.
-
VUB to issue Slovakia’s first covered bond benchmark
After completing a roadshow, Slovak Vseobecna uverova banka (VUB), a subsidiary of Intesa Sanpaolo, is set to issue its first euro-denominated covered bond in benchmark size.
-
Deutsche’s misfiring CIB a crucial factor in Commerz merger plans
Deutsche Bank has signalled its commitment to maintaining a “strong capital markets business” after admitting it has begun formal merger talks with smaller rival Commerzbank.
GlobalCapital's FIG data pages contain the most up to date information on the global financial institution bond markets, including FIG league tables by Dealogic and our priced deals database.
This also includes all the data from TheCover:
Comment
-
This central bank show cannot go on
This year’s bull market in credit and equities stems from central banks trying to soften the blow of a downturn, rather than from expectations of actual growth. This irony cannot last, for reasons of economics, policy and politics.
-
The perverse logic of Deutsche-Commerzbank
The potential merger between Deutsche Bank and Commerzbank has been repeatedly panned since it was first floated, with good reason. But at the level of the whole German banking system, there is a certain logic to it.
FIG Priced Deals Database
| Issuer | Size | Type |
|---|---|---|
|
|
||
| Bankia | 1000 | 10NC5 tier two |
| Banco Santander | 1200 | PNC5 AT1 |
| Deutsche Bank | 500 | non-preferred senior |
| Deutsche Bank | 750 | non-preferred senior |
| Deutsche Bank | 750 | non-preferred senior |
| Deutsche Bank | 1500 | non-preferred senior |
| Deutsche Pfandbriefbank | 500 | senior |
| Argenta Spaarbank | 500 | senior |
| Berlin Hyp | 500 | senior |
| Sydbank | 500 | non-preferred senior |
Senior Debt
Bank/Insurance Capital
Covered Bonds
MTNs and CP
People & Markets
Bond Comments
Bookrunners of Global FIG
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 23,911.57 | 111 | 7.14% |
| 2 | JPMorgan | 22,809.86 | 95 | 6.81% |
| 3 | Bank of America Merrill Lynch | 20,873.29 | 79 | 6.23% |
| 4 | Morgan Stanley | 18,692.40 | 97 | 5.58% |
| 5 | Goldman Sachs | 16,682.64 | 142 | 4.98% |
Want full access to GlobalCapital?
If you are new to GlobalCapital or you already subscribe to some of our channels you can still easily extend your access.
Take a trial to the entire site or subscribe online to see all our capital markets news, opinion and data sets.
Don't miss out!
Free trial
Latest Issue
Read the magazine on your mobile device
Bank Profiles
Latest news by market and league table performance
Bookrunners of Global Covered Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 6,183.34 | 29 | 6.59% |
| 2 | UniCredit | 5,615.53 | 47 | 5.98% |
| 3 | LBBW | 5,509.16 | 31 | 5.87% |
| 4 | Natixis | 4,708.38 | 22 | 5.02% |
| 5 | Barclays | 4,483.66 | 25 | 4.78% |
Bookrunners of Global FIG
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 23,911.57 | 111 | 7.14% |
| 2 | JPMorgan | 22,809.86 | 95 | 6.81% |
| 3 | Bank of America Merrill Lynch | 20,873.29 | 79 | 6.23% |
| 4 | Morgan Stanley | 18,692.40 | 97 | 5.58% |
| 5 | Goldman Sachs | 16,682.64 | 142 | 4.98% |
Bookrunners of Dollar Denominated FIG
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Bank of America Merrill Lynch | 19,182.80 | 67 | 11.46% |
| 2 | Citi | 18,801.44 | 86 | 11.23% |
| 3 | JPMorgan | 18,170.32 | 75 | 10.85% |
| 4 | Morgan Stanley | 15,609.36 | 72 | 9.32% |
| 5 | Goldman Sachs | 14,161.74 | 124 | 8.46% |
Bookrunners of Euro Denominated Covered Bond Above €500m
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Natixis | 3,944.55 | 14 | 7.52% |
| 2 | HSBC | 3,694.64 | 13 | 7.04% |
| 3 | LBBW | 3,692.39 | 14 | 7.04% |
| 4 | Credit Agricole CIB | 3,475.55 | 14 | 6.63% |
| 5 | Deutsche Bank | 3,304.65 | 12 | 6.30% |
Global FIG Revenue
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 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 % |
|---|---|---|---|---|
| 1 | Credit Agricole CIB | 3,286.19 | 8 | 17.05% |
| 2 | UBS | 2,883.39 | 8 | 14.96% |
| 3 | HSBC | 1,533.23 | 10 | 7.96% |
| 4 | Deutsche Bank | 1,178.57 | 8 | 6.12% |
| 5 | BNP Paribas | 921.79 | 8 | 4.78% |
