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  • April 17 2014
SSA

Triple-A Finland sells itself on credentials rather than yield

The mood toward peripheral sovereigns may have improved recently but the results of the Republic of Finland’s new July 2028 government bond launched on Tuesday proved that investors are more than happy to sacrifice yield to buy a top quality credit.

  • 03 Feb 2012

Finland paid a coupon of 2.75% for its 16.5 year issue, compared with, for example, the Kingdom of Belgium, which priced at 10 year in January at 197bp over swaps with a coupon of 4.25%.

Finland is one of the few Eurozone sovereigns still rated triple-A by all three ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
1 Barclays 8,952.26 14 12.43%
2 Citi 8,658.01 14 12.02%
3 SG Corporate & Investment Banking 6,084.30 8 8.45%
4 HSBC 5,836.63 8 8.10%
5 Goldman Sachs 5,290.36 7 7.35%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
1 Deutsche Bank 15,846.85 37 11.59%
2 HSBC 13,666.53 31 10.00%
3 Barclays 13,641.28 29 9.98%
4 Citi 12,916.51 30 9.45%
5 Goldman Sachs 12,358.69 27 9.04%

bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
1 HSBC 19,732.49 33 8.26%
2 Barclays 17,694.27 24 7.40%
3 UniCredit 16,181.46 46 6.77%
4 SG Corporate & Investment Banking 15,289.78 24 6.40%
5 JPMorgan 15,090.23 19 6.31%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
1 HSBC 40,954.36 122 8.27%
2 Deutsche Bank 37,779.49 121 7.63%
3 Barclays 34,509.87 75 6.97%
4 Citi 28,758.52 68 5.80%
5 Goldman Sachs 28,255.83 57 5.70%