EFSF restores reputation with 5yr dazzler

The EFSF exploited investors’ hunger for new issuance on Wednesday to lop a €5.9bn slice off its remaining funding task for the year. Bankers away from the trade pointed to a seemingly gratuitous order book and a hefty new issue premium to suggest the borrower had overpaid for the size. But the issuer was universally acknowledged to have redeemed itself after a difficult 10 year trade in August.

  • 19 Oct 2012
The borrower has the rest of the year to contemplate how to raise the remaining €5.1bn it needs after overcoming this week’s funding obstacle. "In principle, [the €5.1bn required] is long term funding," said Christophe Frankel, CFO and deputy CEO of the EFSF. "But we have no specific ...

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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 46,791.16 113 11.72%
2 Citi 45,464.82 116 11.39%
3 HSBC 32,120.98 74 8.05%
4 Bank of America Merrill Lynch 31,796.56 92 7.97%
5 Deutsche Bank 25,336.01 60 6.35%

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 7.29%
2 UniCredit 31,868.36 105 7.18%
3 Goldman Sachs 31,008.65 80 6.99%
4 BNP Paribas 30,965.57 63 6.98%
5 Barclays 30,125.25 71 6.79%

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 7.39%
2 JPMorgan 84,566.67 476 7.28%
3 HSBC 75,413.89 256 6.49%
4 Bank of America Merrill Lynch 62,586.52 191 5.38%
5 Barclays 59,041.67 186 5.08%