SSA prefunding pressure rises ahead of ugly 2014

With the US debt ceiling crisis only postponed until the traditional new issue season early next year, the sovereign, supranational and agency sector is poised for an aggressive burst of prefunding in remaining weeks of 2013, according to bankers and issuers, writes Nathan Collins.

  • By Nathan Collins
  • 18 Oct 2013


2014’s punishing schedule of SSA redemptions adds to the incentives to accelerate borrowing, particularly when many names have almost concluded this year’s programmes.

“While the agreement on the extension of the US debt ceiling is supportive of the markets near-term, it does delay the day of reckoning ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 10,691.12 15 8.76%
2 BNP Paribas 10,516.31 14 8.62%
3 Citi 10,121.17 12 8.30%
4 HSBC 9,193.03 13 7.53%
5 JPMorgan 8,809.30 12 7.22%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 May 2017
1 JPMorgan 25,552.69 63 5.96%
2 Citi 24,119.11 60 5.63%
3 Deutsche Bank 17,545.97 37 4.09%
4 HSBC 16,628.60 40 3.88%
5 Barclays 13,251.34 33 3.09%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 09 May 2017
1 Barclays 20,074.83 45 4.44%
2 JPMorgan 19,043.02 43 4.21%
3 BNP Paribas 17,726.77 29 3.92%
4 Bank of America Merrill Lynch 14,783.86 38 3.27%
5 HSBC 14,593.04 47 3.22%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 Apr 2017
1 JPMorgan 39,067.52 180 8.50%
2 Citi 32,458.25 115 7.06%
3 Barclays 30,658.65 76 6.67%
4 Deutsche Bank 29,302.58 107 6.38%
5 HSBC 28,071.48 101 6.11%