Cades ‘best ever’ in euros, joy for EIB too

Cades (Caisse d’Amortissement de la Dette Sociale) and the European Investment Bank took advantage of the bullish market this week to issue euro benchmarks, both of which exceeded the expectations of the issuers and lead managers.

  • 27 Jan 2012

Cades powered in with a €4bn December 2025 bond, the success of which was down to the 4% coupon — much sought after, particularly by insurance companies and pension funds.

Philippe Noel, head of funding at Cades, said it was the best deal he had issued in his time ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 17,773.39 25 9.05%
2 HSBC 16,094.53 24 8.19%
3 BNP Paribas 14,513.99 21 7.39%
4 Barclays 14,014.48 21 7.13%
5 Goldman Sachs 13,328.33 24 6.78%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 47,624.49 114 11.86%
2 Citi 45,464.82 116 11.32%
3 HSBC 32,120.98 74 8.00%
4 Bank of America Merrill Lynch 31,796.56 92 7.92%
5 Deutsche Bank 26,169.34 61 6.51%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 32,369.73 94 7.27%
2 UniCredit 32,160.99 106 7.23%
3 Goldman Sachs 31,301.28 81 7.03%
4 BNP Paribas 30,965.57 63 6.96%
5 Barclays 30,125.25 71 6.77%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 86,363.02 489 7.38%
2 Citi 86,161.20 295 7.36%
3 HSBC 75,912.57 258 6.48%
4 Bank of America Merrill Lynch 62,681.73 193 5.35%
5 Barclays 59,041.67 186 5.04%