• Investors eat up latest from PNB

    Investors swarmed Philippine National Bank’s (PNB) $750m bond sale, as they sought out diversity in a market overrun with Chinese paper.

    • 21 Jun 2019
  • Westpac New Zealand EUR500m 0.3% Jun 24 green

    • 20 Jun 2019
  • UniCredit EUR1.25bn 1.25% Jun 24

    • 20 Jun 2019
  • Santander triple dips in dollars as issuers relish drop in yields

    Santander this week showed the breadth of its funding options with a third dollar deal in as many weeks as it exploited red-hot conditions for senior preferred paper.

    • 20 Jun 2019
  • CNP Assurances mandates for rare green sub deal

    CNP Assurances said on Thursday that it had picked banks to arrange the sale of a green tier two, adding its name to only a small list of financial borrowers that have sought to bring in green funding in a subordinated format.

    • 20 Jun 2019
  • Bankia hoovers up demand for inaugural SNP

    Bankia sold its first senior non-preferred bond this week after the market rallied following a dovish speech from Mario Draghi, president of the European Central Bank. The issuance attracted a hefty book of €3.7bn, more than seven times its pre-determined size of €500m.

    • 20 Jun 2019
  • Piraeus offers hope to Greek banks after breaking into T2

    Piraeus Bank offered hope to other Greek banks hoping to access bond funding by printing a tier two bond on Wednesday. It was the first Greek issuer to have sold a deal in this asset class since the financial crisis, getting hefty orders in the process.

    • 20 Jun 2019
  • FIG bankers spy golden window for second tier names

    DCM bankers say that market conditions are just right for some of Europe’s smaller and more marginalised financial institutions to bring new bond deals ahead of the summer.

    • 20 Jun 2019
  • Santander CF sails through market as supply starts easing off

    Santander Consumer Finance breezed through the market with a new five year senior bond on Wednesday, as FIG bankers predicted that there would be a pause for breath in the primary market after a frantic few weeks for new issuance.

    • 19 Jun 2019
  • Westpac NZ seals euro comeback with debut green

    Westpac New Zealand was able to steer its first green bond through the market on Tuesday, even as yields plummeted on the back of suggestions that the European Central Bank could be preparing new stimulus measures. The deal was the issuer’s first fixed rate senior bond in euros for over nine years.

    • 19 Jun 2019
  • Bankia hoovers up demand for inaugural SNP

    Bankia on Tuesday decided to sell its first senior non-preferred bond after the whole market rallied about 5bp as a result of a speech from Mario Draghi, president of the European Central Bank, on Monday. The issuance attracted a hefty book of €3.7bn, more than seven times its pre-determined size of €500m.

    • 18 Jun 2019
  • UniCredit fixes call option to pref senior deal

    UniCredit made the unusual decision of adding a one year call option to a preferred senior bond on Tuesday, nodding towards the bond’s potential value as total loss-absorbing capacity (TLAC). The Italian bank won strong support on a day when dovish central bank comments were fuelling a big rally in the value of risk assets.

    • 18 Jun 2019
  • CEB navigates declining FRN demand for tight $500m

    China Everbright Bank has become the latest Chinese lender to tap the offshore market for floating rate notes (FRN), raising $500m at an aggressive level on Monday.

    • 18 Jun 2019
  • Four banks jump into MREL products on a manic Monday

    Financial institutions piled most of this week's debt supply into a busy Monday session, with BPCE, Crédit Agricole, Credit Suisse and KBC Group all launching senior deals for the minimum requirement for own funds and eligible liabilities (MREL) at the same time. All four lenders came close to fair value for their offerings.

    • 17 Jun 2019
  • Aegon and BPM test euro market resilence after busy week

    Aegon Bank and Banco BPM each hit the euro market on Friday and launched €500m of debt in senior formats, following a week of prosperous conditions and successful deals.

    • 14 Jun 2019
  • CaixaBank leads trio of Spanish banks into euros

    A trio of Spanish banks hit the euro market this week, led by a popular offering of non-preferred senior bonds from CaixaBank.

    • 13 Jun 2019
  • Jyske lands rare callable SNP in busy market

    Commerzbank, Jyske Bank, OP Corporate Bank and UBI Banca all issued €500m senior non-preferred bonds this week. But Jyske stood out for having inserted a call option into its transaction — an efficient move but a rare occurrence in the asset class.

    • 13 Jun 2019
  • CaixaBank EUR1.25bn 1.375% Jun 26

    • 13 Jun 2019
  • Svenska Handelsbanken EUR1bn 0.125% Jun24

    • 13 Jun 2019
  • Jyske tests call option as trio hunts for non-pref in euros

    Commerzbank, Jyske Bank and UBI Banca all issued €500m senior non-preferred bonds with five year maturities on Thursday. But Jyske opted for a more flexible and efficient note, callable four years after its issuance date.

    • 13 Jun 2019
  • CMB doubles up with dollar, euro combo

    China Merchants Bank priced three year bonds on Wednesday that were split between a $600m floating rate note (FRN) and a €300m fixed rate tranche.

    • 13 Jun 2019
  • OP Corporate Bank and Oberbank offer investors diversity

    OP Corporate Bank offered sold a senior non-preferred bond in euros on Wednesday, the whose success of which surprised market participants with its pricing and demand of more than three times the deal size. Oberbank also went to market with a senior preferred bond that did not attract as much demand.

    • 12 Jun 2019
  • BBVA and Santander hunt for cheap deals in euros

    BBVA and Santander came to the euro-denominated FIG market on Wednesday to make use of favourable conditions, proving that it is deep enough to digest supply from two issuers from the same country. Both banks priced their deals close to or at fair value.

    • 12 Jun 2019
  • CaixaBank draws hefty order book with non pref

    CaixaBank was able to attract orders of more than €3.85bn for the issuance of its seven year senior non preferred bond on Tuesday, more than three times the deal size.

    • 11 Jun 2019
  • Four banks lap up demand for defensive deals

    Oberbank sold a senior bond in euros on Wednesday, following in the footsteps of NatWest Markets, Luminor Bank and Svenska Handelsbanken, which on Tuesday also issued senior deals. NatWest attracted the largest order book for its floating rate notes.

    • 11 Jun 2019
  • BNZ hops into euro market with senior

    Bank of New Zealand (BNZ) gave investors the chance to put some euros into a senior bond on Friday and was well subscribed for its efforts.

    • 07 Jun 2019
  • Banking trio ride the rally

    The US holding company of Spain’s Santander made its first trip to the dollar bond market in almost six months, as issuers made the most of improving conditions.

    • 06 Jun 2019
  • Capital One debuts in euro market as Aegon Bank circles

    The American lender issued a dual tranche transaction on Wednesday, its first ever euro-denominated bond. It is the first American regional bank to go to market since May 2017. Meanwhile, Aegon Bank is looking to issue its first senior non-preferred bond in the currency.

    • 05 Jun 2019
  • ECB policy meet to favour bank issuers

    The European Central Bank’s (ECB) is expected to announce new policies on Thursday which, according to a fixed income strategist, will be positive for financial institution credits.

    • 05 Jun 2019
  • Mizuho braves market with euro senior

    Mizuho Financial Corp marketed a senior bond on Tuesday, breaking the silence in the financial institutions bond market this week. The issuer attracted €1.7bn of orders, showcasing its established name in a quiet market.

    • 04 Jun 2019
  • Small Chinese bank stress: a blessing in disguise

    The surprise takeover of troubled Baoshang Bank, together with the resignation of Bank of Jinzhou’s auditor, is a wake-up call for a market that had enjoyed a rosy outlook.

    • 04 Jun 2019
  • ICBC floats $1.5bn dual tranche deal

    Industrial and Commercial Bank of China (ICBC) hit two parts of the dollar curve on June 3, selling two tranches of floating rate notes worth $750m each.

    • 04 Jun 2019
  • Issuers shy away from euro FIG market

    Financial institution issuers surprised market participants with no deals in the euro market on Monday after a busy period of roadshows. And as the week moves towards the European Central Bank's announcements on Thursday, issuance conditions might not improve.

    • 03 Jun 2019
  • Cairn sets up UCITS credit fund with Mediobanca

    Cairn Capital will be able to distribute its multi-asset credit offering more widely, through the establishment of a joint UCITS (undertakings for collective investment in transferable securities) fund with its owner Mediobanca.

    • 03 Jun 2019

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 8,974.41 77 5.90%
2 HSBC 8,592.02 43 5.65%
3 LBBW 8,280.86 47 5.44%
4 Barclays 6,490.00 33 4.26%
5 Natixis 6,473.22 31 4.25%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 48,377.80 206 6.35%
2 Citi 46,289.08 242 6.08%
3 JPMorgan 43,272.98 224 5.68%
4 Morgan Stanley 32,027.81 185 4.20%
5 HSBC 31,394.70 193 4.12%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 39,681.52 169 11.81%
2 Citi 36,163.90 186 10.76%
3 JPMorgan 33,931.52 167 10.10%
4 Morgan Stanley 23,766.77 132 7.07%
5 Wells Fargo Securities 22,356.72 97 6.65%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 5,346.40 20 6.84%
2 LBBW 5,291.48 20 6.77%
3 HSBC 4,549.39 16 5.82%
4 Deutsche Bank 4,534.04 16 5.80%
5 Credit Agricole CIB 4,493.73 19 5.75%

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 5,933.32 13 16.21%
2 UBS 3,778.43 15 10.32%
3 Credit Agricole CIB 3,549.81 11 9.70%
4 BNP Paribas 2,554.19 12 6.98%
5 HSBC 1,977.94 14 5.40%