Top News

  • RSA to keep sterling insurance supply high and rising

    RSA Insurance Group is looking at selling a new senior bond in sterling, as investors in the UK currency look forward to a bumper year for issuance from the insurance sector.

    • 19 Aug 2019
  • Polish mortgage law has ‘significant adverse effects’

    A draft Polish law, requiring the written consent of property owners to transfer mortgages, would have “significant adverse effects on Polish banks’ funding” said the European Central Bank, with respect to the covered bond and securitization markets. However, a legal expert said there would be no direct impact on covered bonds.

    • 15 Aug 2019
  • Latvia to wind up second bank in two years after ECB decision

    The European Central Bank said on Thursday that AS PNB Banka was "failing or likely to fail", marking the second time in as many years that a Latvian bank has been declared insolvent.

    • 16 Aug 2019
  • Salvini snaps to send Italian capital markets into a spin

    An impressive rally in Italian risk assets has been completely overturned this week, as Italy descended into political chaos. Some market participants now fear a repeat of last year, when Italian issuers were frozen out of debt and equity markets as the country’s government fought with the European Commission over its annual budget targets. Tyler Davies and Sam Kerr report.

    • 15 Aug 2019
  • Deutsche Pbb to tap sterling market for senior paper

    Deutsche Pfandbriefbank announced on Friday that it is planning to meet investors in the sterling market next week to gauge appetite for a possible senior preferred bond.

    • 16 Aug 2019
  • Issuers in wait-and-see mode after poor primary performance

    Market participants are confident that FIG issuance will pick up next week but there are concerns around secondary performance. They are likely to pay close attention to how this week’s deals from Goldman Sachs and Credit Suisse fare before marketing their own.

    • 15 Aug 2019
 

Latest News


Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 71,782.08 359 6.16%
2 Bank of America Merrill Lynch 67,912.34 323 5.83%
3 Citi 62,519.03 354 5.37%
4 Morgan Stanley 54,245.44 286 4.66%
5 Goldman Sachs 48,546.78 413 4.17%

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 11,036.33 93 5.90%
2 HSBC 10,542.32 56 5.64%
3 LBBW 8,737.41 51 4.67%
4 Natixis 7,512.33 39 4.02%
5 UBS 7,388.75 44 3.95%

  • Japanese duo leads Yankee charge in busy week of supply

    Yankee banks joined supply frenzy in US dollars this week, as they looked to take advantage of positive funding conditions.

    • 13 Sep 2019
  • BEA shrugs off weak results with $650m AT1 return

    The Bank of East Asia returned to the market with a Basel III-compliant additional tier one (AT1) deal, paying no premium despite reporting disappointing interim results for the first half of 2019 and amid the turmoil in Hong Kong SAR.

    • 13 Sep 2019
  • Capital markets divided as ECB wheels out big guns once more

    There was a mixed bag of views across the capital markets after the European Central Bank unleashed a new comprehensive stimulus package on Thursday, comprising restarting net bond buying, a rate cut and a tiered deposit rate system for banks.

    • 12 Sep 2019
  • BMO and Rothesay Life bring sterling market to life before ECB meeting

    Bank of Montreal and Rothesay Life made use of the quieter political situation in the UK this week to issue in sterling, in the same week issuance paced down in the euro market ahead of the European Central Bank’s meeting.

    • 12 Sep 2019
  • ‘Sigh of relief’ for banks after ECB unveils new look TLTRO programme

    More banks are expected to take advantage of the third series of targeted longer-term refinancing operations (TLTRO III) after the European Central Bank sweetened the terms of the funding programme on Thursday. Mario Draghi looked set to leave his position as ECB president on a bang, having also announced tiered rates of deposit for banks and a return to monthly asset purchases.

    • 12 Sep 2019
  • Intesa breaks Italian Swiss franc records

    Intesa Sanpaolo Bank Ireland this week printed a bond with what leads said was the lowest ever yield in Swiss francs from an Italian issuer. Following successful outings earlier this year in euros and yen, Italy’s largest banking group by assets turned to Swiss francs on Tuesday with a Sfr225m ($227.3m) five year senior trade that was also the first from an Italian borrower in the currency this year and the largest since the financial crisis.

    • 12 Sep 2019
  • Kommuninvest prints Swedish green note with rare negative yield

    Swedish agency Kommuninvest doubled the size of its June 2023 green bond on Tuesday through a Skr3bn ($309.8m) tap. The tap was issued with a negative yield — rare for the Swedish krona market — and is the issuer’s first negative yielding green print since October 2016.

    • 12 Sep 2019
  • Bank balance sheets growing again after two years of decline

    The amount of assets held by EU banks grew last year for the first time since 2015, according to data from the European Banking Federation, which also found that financial institutions were continuing to build up their capital and profitability levels.

    • 12 Sep 2019
  • Deutsche promotes Lewellen to run IG DCM, Buvat to run levfin

    Deutsche Bank has announced a round of senior appointments in its primary debt businesses, naming Hoby Buvat head of EMEA leveraged finance origination and Mark Lewellen head of EMEA debt capital markets origination.

    • 11 Sep 2019
  • 'Brussels smells green, you can see it and feel it,' says ECBC's Bertalot

    The prospective growth of green and sustainable covered bond funding, and the Covered Bond Directive, were key topics at the well attended European Covered Bond Council’s 30th plenary session, held in Munich on Wednesday, especially with respect to the Pfandbrief market, which celebrates its 250th anniversary this year.

    • 11 Sep 2019

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The GlobalCapital View logo   Comment

  • Green price ratchet bonds will soon be everywhere

    The sustainability-linked bond issued by Enel on Thursday opens a new chapter in the green finance market. Anyone tempted to think this will be a freak should think again. The idea is sure to catch on.

    • 10 Sep 2019
  • Bazooka or water pistol, Draghi is guaranteed to disappoint

    There is typically a degree of consensus among market participants as to what a central bank will say at its upcoming monetary policy meeting. But, days before the European Central Bank’s Governing Council gathering on Thursday — the most important of the year and perhaps ever — there are wide ranging views as to what its president Mario Draghi will announce at his swansong meeting. Someone will get burned.

    • 10 Sep 2019

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FIG Priced Deals Database

IssuerMaturitySize
Goldman Sachs19-Aug-241000
Bank of America Corp08-Aug-291000
Banco Santander31-Jul-24750
Banca Popolare di Sondrio30-Jul-29200
Banca Monte dei Paschi di Siena23-Jul-29300

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 11,036.33 93 5.90%
2 HSBC 10,542.32 56 5.64%
3 LBBW 8,737.41 51 4.67%
4 Natixis 7,512.33 39 4.02%
5 UBS 7,388.75 44 3.95%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 71,782.08 359 6.16%
2 Bank of America Merrill Lynch 67,912.34 323 5.83%
3 Citi 62,519.03 354 5.37%
4 Morgan Stanley 54,245.44 286 4.66%
5 Goldman Sachs 48,546.78 413 4.17%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 57,323.59 278 11.27%
2 Bank of America Merrill Lynch 55,455.30 272 10.91%
3 Citi 50,202.89 277 9.87%
4 Morgan Stanley 39,713.99 199 7.81%
5 Goldman Sachs 36,582.69 351 7.19%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,100.80 24 6.48%
2 UniCredit 5,686.46 27 6.04%
3 LBBW 5,637.01 23 5.99%
4 Credit Agricole CIB 5,400.00 24 5.74%
5 HSBC 5,187.54 20 5.51%

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 Barclays 6,543.85 18 11.90%
2 UBS 4,539.34 24 8.25%
3 BNP Paribas 4,443.73 21 8.08%
4 Credit Suisse 3,901.61 15 7.10%
5 JPMorgan 3,758.36 29 6.83%