Hellenic Republic sold on syndication as tap draws Eu10.7bn book

Orders of Eu10.7bn for a five year tap for the Hellenic Republic this week suggested that syndication rather than the traditional auction route is the most efficient approach for peripheral governments to take when increasing bonds.

  • 03 Apr 2009

With solid oversubscription at the tight end of the initial price guidance, Greece was able to raise Eu7bn, which is fungible with the original Eu5.5bn deal launched in January.

Rarely has a new issue attracted a book of that size this year, let alone a tap. Greece now intends ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Citi 14,891.10 17 9.46%
2 Barclays 12,759.91 17 8.11%
3 HSBC 12,732.87 18 8.09%
4 BNP Paribas 12,133.14 16 7.71%
5 JPMorgan 10,382.02 14 6.60%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Citi 33,810.56 82 12.15%
2 JPMorgan 30,730.06 80 11.05%
3 HSBC 21,125.88 53 7.59%
4 Bank of America Merrill Lynch 20,817.31 63 7.48%
5 Deutsche Bank 19,672.75 44 7.07%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 HSBC 26,261.47 79 7.41%
2 Barclays 25,367.48 60 7.15%
3 BNP Paribas 25,241.18 48 7.12%
4 UniCredit 25,109.75 69 7.08%
5 JPMorgan 25,047.63 70 7.06%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Citi 64,707.03 216 7.61%
2 JPMorgan 64,103.16 349 7.54%
3 HSBC 54,776.10 208 6.44%
4 Barclays 49,173.78 145 5.78%
5 Deutsche Bank 45,614.64 170 5.37%