Top stories

  • Quebec breaks record and Spain gets €5bn in rampant euro mart

    Elation in the euro markets after the first round of the French presidential election at the weekend continues to wash over the public sector bond markets, with the Province of Quebec selling its largest ever benchmark in the currency and Spain printing €5bn of inflation-linked paper.

    • 26 Apr 2017

  • ADB joins $4bn club

    The Asian Development Bank on Wednesday hit the $4bn mark for the first time with a dollar benchmark, taking advantage of a dearth of supply and offering a bit of juice to harvest a hefty amount of cash.

    • 26 Apr 2017
  • EFSF triumphs amid French relief rally as Spain and Quebec line up

    The European Financial Stability Facility on Tuesday priced a dual tranche deal that bankers are describing as possibly its greatest ever, laying to rest some of its other long dated trades this year that drew criticism. A pair of other issuers have also hit screens in a euro market enjoying what one syndicate head called “probably the best conditions we’ve seen in months”.

    • 25 Apr 2017
  • The beginning of the end for negative rates

    French spreads have crunched in tighter after Emmanuel Macron topped the first round of voting in the French presidential election at the weekend — but don’t expected them to rally much further from here. With Macron now a shoe-in for the presidency and the European Central Bank likely following a tightening path, European public sector issuers might find that this is the cheapest level they’ll be able to borrow at for some time.

    • 25 Apr 2017
  • EBRD goes large and tight in dollars, as ADB aims for threes

    The European Bank for Reconstruction and Development on Tuesday equalled its largest ever size in dollars on Tuesday with a deal priced flat to or through its curve. The Asian Development Bank is set to follow in a market in which issuers are winning demand from investors starved of supply, said bankers.

    • 25 Apr 2017
  • UK slices £900m from target, selects next syndication

    The UK Debt Management Office has tweaked its funding target for the 2017-18 financial year, cutting its planned Gilt sales by £900m to £114.2bn. The sovereign has also picked a bond for its next syndication.

    • 25 Apr 2017
  • French MTN market still nervy despite Macron's first round win

    French issuers are still cautious about taking part in the private placement market despite centrist candidate Emmanuel Macron's topping of the first round of voting in the French presidential election on Sunday.

    • 24 Apr 2017

The GlobalCapital View logo   Comment

  • The beginning of the end for negative rates

    French spreads have crunched in tighter after Emmanuel Macron topped the first round of voting in the French presidential election at the weekend — but don’t expected them to rally much further from here. With Macron now a shoe-in for the presidency and the European Central Bank likely following a tightening path, European public sector issuers might find that this is the cheapest level they’ll be able to borrow at for some time.

    • 25 Apr 2017

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SSA Priced Deals Database

Issuer Trade Date Currency Size (m)
KfW 19-Apr-17 EUR 5,000
Unédic 11-Apr-17 EUR 1,750
Austria 11-Apr-17 EUR 4,500
L-Bank 06-Apr-17 GBP 500


European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 25 Apr 2017
1 Barclays 8,822.61 13 9.73%
2 Citi 7,368.99 9 8.12%
3 BNP Paribas 7,280.82 10 8.03%
4 HSBC 6,965.75 11 7.68%
5 JPMorgan 6,400.12 9 7.06%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 Apr 2017
1 JPMorgan 39,067.52 180 8.50%
2 Citi 32,458.25 115 7.06%
3 Barclays 30,658.65 76 6.67%
4 Deutsche Bank 29,302.58 107 6.38%
5 HSBC 28,071.48 101 6.11%

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 25 Apr 2017
1 Barclays 8,822.61 13 9.73%
2 Citi 7,368.99 9 8.12%
3 BNP Paribas 7,280.82 10 8.03%
4 HSBC 6,965.75 11 7.68%
5 JPMorgan 6,400.12 9 7.06%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 Apr 2017
1 JPMorgan 24,159.92 58 12.48%
2 Citi 21,399.18 54 11.05%
3 HSBC 15,870.20 36 8.20%
4 Deutsche Bank 15,612.00 33 8.06%
5 Barclays 12,611.42 30 6.51%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Apr 2017
1 Barclays 19,895.10 43 9.86%
2 JPMorgan 16,100.70 41 7.98%
3 Bank of America Merrill Lynch 14,715.49 37 7.29%
4 Credit Agricole CIB 13,312.37 36 6.60%
5 HSBC 12,937.56 41 6.41%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 Apr 2017
1 JPMorgan 39,067.52 180 8.50%
2 Citi 32,458.25 115 7.06%
3 Barclays 30,658.65 76 6.67%
4 Deutsche Bank 29,302.58 107 6.38%
5 HSBC 28,071.48 101 6.11%