Latest Bank/Insurance Capital news

  • Raiffeisen to reopen the AT1 market after Popular write-down

    Austria’s Raiffeisen Bank International (RBI) could give investors their first chance to invest in a new additional tier one (AT1) deal, after two weeks in which the asset class went through its first write-down and coupon suspension.

    • 23 Jun 2017
  • Intesa offers to cherry pick parts of Veneto and Vicenza

    Intesa Sanpaolo announced on Wednesday that it was willing to acquire parts of struggling Italian lenders Veneto Banca and Banca Popolare di Vicenza. But the Italian national champion ruled out buying the banks’ subordinated bonds, non-performing loans and high-risk performing loans.

    • 22 Jun 2017
  • The FIG Idea: assume the recovery position

    When Banco Popular lost the market's confidence, it ran out of road. Realistic assumptions for recovery rates on bad assets plunged to super-conservative levels. Confidence is the greatest form of solvency, its withdrawal a precursor to insolvency.

    • 22 Jun 2017
  • XL hits euro market for first time since Catlin takeover

    Insurer XL Group set terms for €500m of subordinated notes in a 30 year non-call 10 deal on Thursday, taking advantage of low rates in the euro market.

    • 22 Jun 2017
  • Markit switches to holdco for bank CDS indices

    From September IHS Markit will include UK and Swiss banks at the holding company level in its credit default swap (CDS) indices, but the index provider is still consulting on whether or not to include non-preferred senior debt.

    • 22 Jun 2017
  • Popular casts shadow on Deutsche Pbb's T2 debut

    Deutsche Pfandbriefbank (Pbb) was unable to build a large order book for its first public sale of tier two debt on Wednesday, having encountered a more “challenging’ environment” following Banco Popular’s resolution which wiped out investors in both additional tier one and in tier two.

    • 21 Jun 2017
  • Issuers say ‘blood, sweat and tears’ of MREL is over

    Speaking at Euromoney’s Global Borrowers conference on Tuesday, a panel of bank issuers said that investors had come to grips with the transformation of the senior asset class for the minimum requirement for own funds and eligible liabilities (MREL). The future of subordinated debt, meanwhile, remains in flux.

    • 21 Jun 2017
  • AT1 and T2 have ‘more or less the same credit risk’ says Swisscanto’s Björk

    Panellists on the ‘A New Narrative for Capital’ discussion at Euromoney’s Global Borrowers Conference on Tuesday expressed divergent views on the difference between additional tier one (AT1) and tier two bonds.

    • 21 Jun 2017
  • STS postponed as ABS pipeline fills to brim

    The implementation date for the European Union’s simple transparent and standardized (STS) securitization framework has been moved back to January 2019, after concerns were made by the Maltese presidency over the timeline between finalisation of the rule and its implementation.

    • 21 Jun 2017
  • Too many banks and not enough money, says Standard Life’s Hudson

    Participants on the ‘Bank Credit: A Looming Crisis?’ panel at Euromoney’s Global Borrowers Conference discussed bank consolidation, the differing approach to Banco Popular and Monte dei Paschi di Siena (MPS), and non-performing loans (NPLs) on Tuesday.

    • 20 Jun 2017

Bank/Insurance Capital news archive



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Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Jun 2017
1 HSBC 18,859.47 96 5.78%
2 UBS 17,096.63 103 5.24%
3 BNP Paribas 16,125.84 71 4.94%
4 Commerzbank Group 15,763.40 95 4.83%
5 LBBW 15,321.72 85 4.69%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jun 2017
1 Morgan Stanley 58,230.82 220 7.33%
2 Goldman Sachs 55,991.98 263 7.05%
3 Bank of America Merrill Lynch 50,362.34 188 6.34%
4 JPMorgan 49,807.13 231 6.27%
5 Citi 48,627.79 289 6.12%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Jun 2017
1 Citi 41,583.09 217 10.04%
2 Goldman Sachs 40,848.76 205 9.86%
3 Morgan Stanley 40,750.32 150 9.84%
4 JPMorgan 39,863.64 165 9.62%
5 Bank of America Merrill Lynch 36,689.19 149 8.86%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Jun 2017
1 LBBW 4,563.62 16 7.62%
2 SG Corporate & Investment Banking 4,463.41 18 7.46%
3 BNP Paribas 4,287.01 13 7.16%
4 Credit Agricole CIB 3,637.13 14 6.08%
5 Commerzbank Group 3,356.64 13 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
  • 13 Jun 2017
1 HSBC 6,023.46 22 12.66%
2 Barclays 5,139.18 16 10.80%
3 Credit Suisse 3,558.82 15 7.48%
4 BNP Paribas 3,205.75 15 6.74%
5 Goldman Sachs 2,888.75 19 6.07%