Freddie Mac price talk cheapens as book builds slowly

Price talk for Freddie Mac’s Eu5bn three year EuReference Note transaction, which is expected to price on Wednesday, has widened from Libor minus 10bp to minus 9bp, at the same Freddie Mac’s outstanding paper has widened out to minus 9bp. The cheapening has given a fillip to the bookbuilding process, which was not going as well as hoped.

  • 23 Feb 2001
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Interest from Europe and Asia has been described as disappointing, though to an extent offset by US demand.

There is considerable demand for the bonds at 7bp-8bp sub-Libor, but bookrunners BNP Paribas, Lehman Brothers and Merrill Lynch are holding out for Libor less 9bp. Freddie Mac's dollar denominated three year Notes trade 10bp-11bp tighter at Libor less 20bp-21bp.

  • 23 Feb 2001

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Mar 2017
1 JPMorgan 94,925.33 384 8.39%
2 Citi 87,531.58 331 7.74%
3 Bank of America Merrill Lynch 84,341.49 288 7.46%
4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 May 2017
1 Deutsche Bank 19,381.65 47 8.82%
2 Bank of America Merrill Lynch 18,968.25 36 8.63%
3 HSBC 18,103.95 50 8.24%
4 BNP Paribas 8,911.57 55 4.05%
5 SG Corporate & Investment Banking 8,885.00 54 4.04%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 May 2017
1 JPMorgan 8,369.56 33 8.53%
2 UBS 8,282.28 33 8.44%
3 Citi 6,605.58 44 6.74%
4 Goldman Sachs 6,444.85 31 6.57%
5 Bank of America Merrill Lynch 6,215.31 24 6.34%