Sterling SSAs stumble on extension tension

Sterling investors rebelled this week after a pair of supranational and agency borrowers sought to extend from the December 2014 maturity that has been much in fashion in the UK currency this year.

  • 24 Feb 2012

Despite the sterling SSA sector’s recent buoyancy, neither the Asian Development Bank nor Kommunalbanken achieved strong take-up with their December 2015 offerings

"The uptick for investors is only 5bp going out another year," said a DCM banker in London. "Investors would rather focus on the short end."

Heavy dealflow ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 27 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
  • 26 Sep 2016
1 JPMorgan 44,166.08 145 12.03%
2 Bank of America Merrill Lynch 35,499.19 101 9.67%
3 Citi 35,120.34 106 9.57%
4 HSBC 28,900.41 79 7.87%
5 Goldman Sachs 25,019.12 58 6.82%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Sep 2016
1 Barclays 32,641.50 78 8.97%
2 UniCredit 28,262.86 104 7.76%
3 HSBC 28,056.56 98 7.71%
4 Credit Agricole CIB 24,626.69 69 6.76%
5 JPMorgan 24,044.23 73 6.60%

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%