Swiss buyers support resurgence in SSA market

Swiss franc investors split this week’s primary buying between opposite ends of the credit spectrum, though name recognition and rarity value drove deals of both types. Alongside high yielding corporate paper from Metro and Valora (see separate story), accounts snapped up tightly priced agency paper from Oesterreichische Kontrollbank (OKB) and Kommuninvest.

  • 03 Feb 2012
While the Swiss market has lacked SSA credits lately as low rates have forced borrowers to offer unattractive spreads, OKB grabbed the opportunity to issue a rare floating rate note when two year pricing moved into positive territory. Demand came from money market funds and bank treasuries that ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
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
  • Today
1 Citi 36,685.24 92 12.17%
2 JPMorgan 33,155.51 90 11.00%
3 Bank of America Merrill Lynch 24,025.40 74 7.97%
4 HSBC 23,085.62 57 7.66%
5 Deutsche Bank 20,925.41 48 6.94%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 28,644.38 85 7.66%
2 HSBC 27,234.93 81 7.28%
3 BNP Paribas 26,644.13 51 7.13%
4 Goldman Sachs 25,879.41 68 6.92%
5 JPMorgan 25,780.28 74 6.89%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 69,261.32 239 7.55%
2 JPMorgan 67,929.72 401 7.40%
3 HSBC 58,695.84 218 6.40%
4 Bank of America Merrill Lynch 50,577.98 158 5.51%
5 Barclays 49,497.84 151 5.39%