Eurozone bond spreads recover from German election surprise

Germany’s federal election on Sunday caused ripples in government bond spreads throughout the eurozone on Monday, but concerns are subsiding already, allowing one agency to announce its first euro green bond.

  • By Lewis McLellan
  • 25 Sep 2017

Municipality Finance has mandated BNP Paribas, Crédit Agricole, DZ Bank and Nordea to run the books for a €500m no-grow 10 year Reg S green bond — the agency’s first green bond in euros.

A banker at one of the leads said: “We aren’t concerned at all about the ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 17,773.39 25 9.05%
2 HSBC 16,094.53 24 8.19%
3 BNP Paribas 14,513.99 21 7.39%
4 Barclays 14,014.48 21 7.13%
5 Goldman Sachs 13,328.33 24 6.78%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 47,624.49 114 11.86%
2 Citi 45,464.82 116 11.32%
3 HSBC 32,120.98 74 8.00%
4 Bank of America Merrill Lynch 31,796.56 92 7.92%
5 Deutsche Bank 26,169.34 61 6.51%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 32,369.73 94 7.27%
2 UniCredit 32,160.99 106 7.23%
3 Goldman Sachs 31,301.28 81 7.03%
4 BNP Paribas 30,965.57 63 6.96%
5 Barclays 30,125.25 71 6.77%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 85,921.52 293 7.36%
2 JPMorgan 85,692.63 478 7.34%
3 HSBC 75,413.89 256 6.46%
4 Bank of America Merrill Lynch 62,586.52 191 5.36%
5 Barclays 59,041.67 186 5.06%