Dutch to set new benchmark point as 20s become the new 30s

The Dutch State Treasury Agency (DSTA) is set to issue its first ever 20 year bond on March 6, becoming the first sovereign to test a maturity that some believe could become a new benchmark point on the curve as a result of Solvency II. The fact that the euro swap curve peaks at 20 years also commends the tenor.

  • 24 Feb 2012

Bankers wonder if the European Union will opt for 20 years for its €3bn transaction which could be launched as early as next week.

"Twenty years is going to attract more interest in the future," said Rom Balax, head of SSA syndicate at Royal Bank of Scotland. "There ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 20 Sep 2016
1 Barclays 16,573.29 25 10.75%
2 HSBC 13,571.24 19 8.80%
3 Citi 12,420.96 21 8.06%
4 JPMorgan 11,260.26 20 7.30%
5 Goldman Sachs 11,188.94 18 7.26%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 12 Sep 2016
1 JPMorgan 40,644.85 128 11.66%
2 Bank of America Merrill Lynch 34,313.82 97 9.84%
3 Citi 33,190.26 98 9.52%
4 HSBC 27,855.99 75 7.99%
5 Goldman Sachs 25,272.25 59 7.25%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Sep 2016
1 Barclays 32,529.75 77 9.09%
2 UniCredit 28,262.86 104 7.90%
3 HSBC 26,468.94 95 7.40%
4 JPMorgan 24,015.91 72 6.71%
5 Credit Agricole CIB 22,875.39 66 6.39%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 12 Sep 2016
1 JPMorgan 70,827.81 399 3.76%
2 HSBC 65,838.69 258 3.49%
3 Barclays 63,715.99 198 3.38%
4 Citi 60,728.54 204 3.22%
5 Bank of America Merrill Lynch 50,964.80 163 2.70%