FMS-W ups 2017 target as SSA banks prepare for mandate fight

FMS Wertmanagement has upped its funding requirement for 2017 by more than 50%, a move that is likely to gladden SSA bankers who are expecting a bunfight for mandates come late summer.

  • By Craig McGlashan
  • 10 Aug 2017

The German agency on Tuesday raised its target for the year to €19bn from €12bn, having already reached €15.4bn of funding by the end of July and hitting €16.2bn by Thursday.

“The market conditions at the start of the year were very good and there was strong demand ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 Citi 15,385.63 18 9.46%
2 HSBC 13,772.74 20 8.47%
3 Barclays 12,759.91 17 7.84%
4 BNP Paribas 12,627.67 17 7.76%
5 UniCredit 10,414.96 14 6.40%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 Citi 35,350.37 89 11.90%
2 JPMorgan 32,405.66 89 10.91%
3 HSBC 23,085.62 57 7.77%
4 Bank of America Merrill Lynch 22,774.13 72 7.67%
5 Deutsche Bank 20,925.41 48 7.04%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 UniCredit 27,882.50 83 7.54%
2 HSBC 26,837.88 80 7.26%
3 BNP Paribas 26,644.13 51 7.21%
4 JPMorgan 25,780.28 74 6.97%
5 Goldman Sachs 25,705.53 67 6.95%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Aug 2017
1 Citi 67,442.22 233 7.48%
2 JPMorgan 66,663.61 382 7.39%
3 HSBC 58,185.06 216 6.45%
4 Barclays 49,495.16 150 5.49%
5 Bank of America Merrill Lynch 48,974.55 153 5.43%