Latest News

  • AFD to hit road for green roadshow

    Agence Française de Développement will go on tour to market its newly established climate bonds programme in preparation for a euro deal with a tenor between five and 10 years.

    • 04:45 PM
  • Long-awaited ESM dollar debut hits screens alongside 10 year dollar mandates

    The European Stability Mechanism is finally set to come to market to sell its first ever dollar bond, lining up for a transaction on Tuesday alongside two SSAs looking to access the rare 10 year dollar tenor.

    • 04:15 PM
  • CoE lands in sterling as NRW.Bank lines up

    NRW.Bank is set to return to the sterling market on Tuesday, coming on the heels of a tap from the Council of Europe Development Bank.

    • 04:00 PM
  • Poland’s BGK first out of the gates in busy week for EM bonds

    Bank Gospodarstwa Krajowego is marketing a long 10 year euro benchmark bond on Monday, getting in before what is expected to be a slew of emerging market bond sales this week.

    • 01:00 PM
  • Rating agencies take knife to Jordan and Angola

    Jordan’s sovereign rating was cut one notch to B+ by Standard & Poor’s and Angola was cut a level to B2 by Moody’s after market close on Friday, as overseas debt levels and weak growth took a toll on both countries.

    • 12:15 PM
  • EIB taps zloty bond amid ‘structural shortage’

    The European Investment Bank tapped its 2021 bond on October 18, addressing a lack of Polish zloty bonds in the market.

    • 11:15 AM
  • Fiji’s example to help as IFC talks green bonds with SE Asian banks

    The main purposes of Fiji’s green bond issue are to highlight the importance of climate change, especially to island states, and to “lead by example” for other issuers in the Pacific region, said officials at the International Finance Corp who worked on the deal.

    • 20 Oct 2017
  • China picks banks for dollar bond, snubs rating agencies

    China’s Ministry of Finance (MoF) has decided not to acquire a credit rating for its forthcoming dollar bond issuance – the country’s first dollar bond in over a decade. The news came as MoF mandated 10 banks as bookrunners and managers, including four foreign entities.

    • 20 Oct 2017
  • KfW 0% EUR3bn Dec 22

    • 19 Oct 2017
  • Cades 1.75% USD3bn Sep 19

    • 19 Oct 2017
  • IFC 2% USD1bn Oct 22 green bond

    • 19 Oct 2017
  • Debt relief talks for Caribbean are real, says Branson

    Sir Richard Branson spoke with GlobalCapital’s Lucien Chauvin on Wednesday, after meeting Caribbean heads of government and leaders of the World Bank and International Monetary Fund in Washington. Branson is pushing for a Marshall Plan to help the Caribbean cope with the relentless onslaught of hurricanes, exacerbated by climate change.

    • 19 Oct 2017
  • BondMarker results: French agencies meet mixed reviews

    The scores have been counted and the results are in. The BondMarker voters have delivered their verdict on last week's crop of benchmarks, including a scintillating pair of deals from supranationals. Two deals from French agencies met with drastically different levels of approval from the BondMarker voters, but both fared better than Land NRW.

    • 19 Oct 2017
  • SSA market hopes ECB to answer QE quiz

    With asset prices inflated to levels that would have seemed impossible a few years ago, capital market participants are looking forward to the European Central Bank’s (ECB’s) eventual exit from its quantitative easing (QE) programme with a mix of hope and dread, writes Lewis McLellan.

    • 19 Oct 2017
  • Borrowers coming well inside curves thanks to green bonds

    A pair of public sector borrowers launched trades in the socially responsible investment (SRI) market this week, taking advantage of the dearth of green supply to land prices well inside their conventional curves.

    • 19 Oct 2017
  • Dollar market providing superb execution at short end

    Investors in public sector dollar deals have found themselves forced to accept brutally tight pricing as issuers drive in spreads to round off their funding programmes.

    • 19 Oct 2017
  • World Bank’s Kim eyes debt-for-resilience swaps

    World Bank president Jim Yong Kim has told Caribbean leaders it is time to think creatively about ways to deal with the region's debt, low growth and the vulnerabilities posed by climate change-provoked disasters. By Lucien Chauvin, Oliver West and Virginia Furness.

    • 19 Oct 2017
  • Investors deaf to risk as Spain tightens grip over Catalonia

    Many in the financial industry in Madrid believe Catalonia’s independence adventure is over. But plenty in Barcelona expect lengthy spells of uncertainty after Spain’s government moved to end the region’s autonomy.

    • 19 Oct 2017
  • KfW benefits from green Kangaroo development

    KfW tapped its July 2020 Australian dollar green bond for A$200m ($156.9m) on Wednesday, pricing well inside its existing Kangaroo curve — an illustration of the developing maturity of green markets down under.

    • 19 Oct 2017
  • Land NRW goes ultra-long in ultra-hot market

    The Federal State of North Rhine-Westphalia came to market for its longest ever bond on Thursday, raising €1bn with a 40 year transaction in a market that “just can’t get any hotter”, according to a banker at one of the leads.

    • 19 Oct 2017
  • China to reset country’s bond curve with new deal

    China is preparing to challenge South Korea as the tightest-priced sovereign issuer in Asia, as it lines up its first dollar bond in a decade next week. The market expects China to take an aggressive approach for the deal, which could reset the curve for all of the country’s debt issuers. Morgan Davis reports.

    • 19 Oct 2017
  • Fiji green bond has domestic buyers, international structure

    Fiji is set to become the third country to issue a sovereign green bond, with a F$100m ($50m) issue in Fiji dollars. The country, highly vulnerable to climate change, has just taken over as president of the COP meetings on climate change.

    • 18 Oct 2017
  • Laender score strong 10 year euros as EU cleans up at long end

    The Joint Laender printed €1bn of 10 year paper on Tuesday, filling the book unusually quickly for a Laender deal. The deal was joined in the market by a European Union (EU) tap of an April 2031 line.

    • 18 Oct 2017
  • SSA market strong but investors wary of central banks

    The public sector debt market is providing high volumes of funding at astonishingly tight spreads as investors brush off political concerns and scramble to pick up what supply remains for 2017. However, central banks around the world are weighing on investors’ minds.

    • 18 Oct 2017
  • Investors unconvinced by Egypt euro plans

    The Republic of Egypt is planning to issue a euro denominated bond, its finance minister Amr El-Garhy told GlobalCapital at the IMF Annual Meetings in Washington DC. However, investors are not convinced the sovereign will be able to get the deal done.

    • 18 Oct 2017

More SSA news

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 48,143.17 117 11.92%
2 Citi 45,631.49 117 11.30%
3 HSBC 32,619.65 76 8.08%
4 Bank of America Merrill Lynch 31,796.56 92 7.88%
5 Deutsche Bank 26,169.34 61 6.48%

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 7.26%
2 UniCredit 32,161.79 106 7.22%
3 Goldman Sachs 31,301.28 81 7.02%
4 BNP Paribas 30,965.57 63 6.95%
5 Barclays 30,125.25 71 6.76%

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%