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 %
  • Last updated
  • 24 May 2016
1 Barclays 14,019.32 20 11.71%
2 HSBC 10,974.53 15 9.17%
3 Citi 9,809.67 17 8.20%
4 JPMorgan 9,555.71 16 7.98%
5 SG Corporate & Investment Banking 9,238.18 13 7.72%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 May 2016
1 JPMorgan 27,912.72 70 6.17%
2 Bank of America Merrill Lynch 22,812.50 64 5.04%
3 Citi 20,169.28 50 4.46%
4 Goldman Sachs 19,248.31 37 4.25%
5 HSBC 18,673.38 48 4.12%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 24,910.71 52 4.75%
2 HSBC 21,121.07 62 4.03%
3 UniCredit 19,293.14 59 3.68%
4 JPMorgan 18,565.07 43 3.54%
5 BNP Paribas 18,439.10 35 3.52%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 May 2016
1 JPMorgan 49,993.44 234 8.12%
2 HSBC 47,875.85 172 7.78%
3 Barclays 46,853.90 126 7.61%
4 Citi 38,730.98 116 6.29%
5 Bank of America Merrill Lynch 34,762.30 110 5.65%