Latest Bank/Insurance Capital news

  • ASR Nederland readies T2 for Loyalis acquisition

    ASR Nederland is planning a 30 year non-call 10 tier two bond issue, it said on Wednesday, as looks to finance its recent acquisition of disability specialist Loyalis.

    • 17 Apr 2019
  • Co-op features in bond market resurrection ahead of Easter

    Co-operative Bank managed to raise £200m of tier two capital this week, in its first bond sale since coming close to failing in 2017. A healthy coupon of 9.5% helped the UK lender to find the demand it needed, even if one investor said that there was still “not much to like” about its credit profile.

    • 17 Apr 2019
  • Shinhan serves up first SDG bank capital dollar bond

    Shinhan Bank of South Korea managed tight pricing on its Basel III-compliant tier two deal on Monday. Investors overwhelmed the $400m transaction with orders that covered the book more than seven times at its peak, thanks in part to its rare 10 year tenor but also as a result of its status as Asia’s first dollar-denominated UN Sustainable Development Goals-linked bond. Morgan Davis reports.

    • 17 Apr 2019
  • Bank capital investors stay wary of weaker names

    Investors have resisted the temptation to pile into new subordinated bonds from lesser known banks in recent weeks, fuelling expectations that funds will remain prudent in the market, even as it becomes harder for them to find high yielding assets.

    • 17 Apr 2019
  • Santander exercises call option on dollar AT1

    Another day, another Santander call option. The bank revealed this week that it will call its 6.375% $1.5bn additional tier one perpetual note. In February it became the first bank ever to extend the life of an AT1, but its move this week gave market participants better insight into how it is likely to treat call decisions.

    • 16 Apr 2019
  • Rare IG supply as Shinhan adds SDG label to bank capital deal

    South Korea’s Shinhan Bank sold Asia’s first dollar-denominated UN Sustainable Development Goals-linked bond on Monday, raising $400m from the Basel III-compliant tier two deal.

    • 16 Apr 2019
  • BPM stretches number of Italian AT1 issuers to three

    Banco BPM hit the euro market on Thursday with its first additional tier one (AT1), becoming only the third Italian bank to sell a deal in the asset class following national champions Intesa Sanpaolo and UniCredit.

    • 11 Apr 2019
  • UOB nabs tight pricing for dollar tier two return

    Singapore’s United Overseas Bank this week set a new benchmark after the country introduced an enhanced bank resolution regime allowing the statutory bail-in of subordinated debt. Addison Gong reports.

    • 11 Apr 2019
  • Yorkshire riffs on Coventry’s innovative tend and extend refi

    Yorkshire Building Society is looking to buy back a series of tier twos before their first call date, after Coventry Building Society showed last month that the UK regulator was more relaxed than expected around what firms can do with their capital. But rather than replacing the bonds with an instrument of equal standing, Yorkshire is going one step further than its peer and proposing to issue its first non-preferred senior notes.

    • 09 Apr 2019
  • Deloitte: BRRD changes not enough to solve problem of retail MREL stock

    Strategists at Deloitte fear that there is ‘no simple answer’ to the issue of retail investors holding bail-inable bank debt, despite changes in the Bank Recovery and Resolution Directive (BRRD) aiming to reduce participation from the sector.

    • 09 Apr 2019

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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.

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 6,931.77 33 6.35%
2 LBBW 6,339.70 36 5.80%
3 UniCredit 6,316.04 54 5.78%
4 Natixis 5,053.55 24 4.63%
5 Barclays 4,895.61 26 4.48%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 35,201.33 164 7.16%
2 Bank of America Merrill Lynch 32,418.51 127 6.59%
3 JPMorgan 31,248.29 145 6.35%
4 Morgan Stanley 22,451.55 125 4.56%
5 Goldman Sachs 19,338.59 182 3.93%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 28,574.49 103 12.34%
2 Citi 27,077.87 127 11.69%
3 JPMorgan 24,882.45 113 10.74%
4 Morgan Stanley 18,061.83 88 7.80%
5 Goldman Sachs 15,101.12 157 6.52%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 LBBW 4,185.21 16 7.11%
2 Natixis 4,178.19 15 7.09%
3 HSBC 3,974.99 14 6.75%
4 Credit Agricole CIB 3,687.68 15 6.26%
5 Deutsche Bank 3,304.65 12 5.61%

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 Credit Agricole CIB 3,286.19 8 11.28%
2 Barclays 3,229.69 10 11.08%
3 UBS 3,210.90 11 11.02%
4 BNP Paribas 2,554.19 12 8.76%
5 HSBC 1,754.26 12 6.02%