• KfW out in dollars amid swap spread bounce

    KfW will be the first public sector borrower to test a dollar market where swap spreads have rebounded off the 2017 lows they hit in the middle of last week.

    • 04:15 PM
  • Kexim goes short as borrowers line up for Tuesday trio

    The Export-Import Bank of Korea (Kexim) priced a five year euro benchmark on Monday, nipping in with a one day execution ahead of a trio of deals scheduled for Tuesday.

    • 04:15 PM
  • EIB returns to Polish zloty

    The European Investment Bank is looking for seven year funds in Polish zloty curve in its latest move to build a benchmark curve in the currency.

    • 03:15 PM
  • OeKB joins public sector march back to sterling

    Oesterreichische Kontrollbank has mandated banks for its first sterling deal in 1.5 years, joining a host of other public sector issuers to return to the currency this year.

    • 03:15 PM
  • Welcome back: Indonesia regains full IG status

    S&P has raised Indonesia’s long-term sovereign credit rating to BBB- from BB+ with a stable outlook, on the back of reduced risks to the country’s fiscal metrics. Seven corporates were also upgraded by the agency last Friday.

    • 09:15 AM
  • Secondary pricing update: featuring EIB's first ever dual tranche

    Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

    • 19 May 2017
  • Funding scorecard: French agencies

    This week's funding scorecard looks at the progress French agencies have made in their funding programmes this year.

    • 19 May 2017
  • Lithuania opens books as market stabilises

    Lithuania has hit the screens with its dual tranche euro note as markets stabilise after Brazil’s corruption scandal added to a US led sell-off.

    • 19 May 2017
  • Trump trashes primary market party

    What, on Wednesday, seemed to be primary capital markets gung-ho for any deal imaginable by Thursday looked more like a market on the skids as concerns intensified over the endless controversies dogging US president Donald Trump’s administration.

    • 18 May 2017
  • Muddy dollar picture as investors switch to ‘impeachment trade’

    A swirl of allegations surrounding US president Donald Trump this week added a rally in US Treasuries to already tightening dollar swap spread, creating an uncertain environment for public sector issuers considering dollar deals next week.

    • 18 May 2017
  • GC BondMarker: featuring the post election deal flood

    The week commencing May 8 brought a wave of public sector borrowing. The victory of Emmanuel Macron in the French presidential election caused a wave of relief and signalled a blazing green light for issuance. See how the deals fared on GC BondMarker.

    • 18 May 2017
  • Kommuninvest USD500m 1.875% Jun 21 green bond

    • 18 May 2017
  • EIB USD3bn 1.625% Aug 20, EIB USD1.5bn 2.375% May 27 Climate Awareness Bond

    • 18 May 2017
  • EFSF EUR6bn 1.25% May 33

    • 18 May 2017
  • Manitoba GBP350m 0.75% Dec 21

    • 18 May 2017
  • Quebec GBP300m 0.875% May 22

    • 18 May 2017
  • UK GBP5bn 1.75% Jul 57 tap

    • 18 May 2017
  • France EUR7bn 2% May 48

    • 18 May 2017
  • KBN EUR1bn 0.875% May 27

    • 18 May 2017
  • EFSF surprises with big bite at duration

    The European Financial Stability Facility blindsided investors this week, printing €6bn of 16 year paper despite having completed its second quarter funding requirements, stretching the tolerance of its €10.8bn book in the opinion of some onlookers.

    • 18 May 2017
  • ‘Canadian invasion’ victorious as Manitoba, Quebec hit sterling

    What one SSA banker dubbed a “Canadian invasion” of the sterling market moved up a gear this week, as one province debuted in the currency and another returned after a 20 year absence.

    • 18 May 2017
  • UK praised for book record ahead of election

    The UK drew its largest ever book on Tuesday, taking care of nearly a quarter of its overall syndication programme for the 2017-18 financial year in the process. The deal was particularly impressive given the volatile political backdrop in the UK, said a banker on the trade.

    • 18 May 2017
  • UK corporates seek replacements for EIB funding

    Some of the UK’s major borrowers, especially in the utility sector, are preparing for a future without European Investment Bank funding, as the supranational’s lending in the UK is set to be caught up in fraught Brexit negotiations.

    • 18 May 2017
  • Bull run can charge through Trump but not forever

    Wednesday’s sharp fall in the S&P 500, as the political storm around US president Donald Trump’s links with Russia intensified, has not turned into a market rout... yet. Equities bankers, indeed, are convinced it is a blip, saying investor appetite for stocks remains strong.

    • 18 May 2017
  • Republic of Slovenia EUR1bn 1.25% Mar 27 and EUR1bn 4.95% Nov 40

    • 18 May 2017
  • Republic of Senegal USD1.1bn 6.25% May 33

    • 18 May 2017
  • Trump rumours and swap spreads strangle dollar outlook

    Public sector borrowers that were considering dollar deals for next week are now likely to hold fire, said SSA bankers, as tumbling US Treasury yields and tightening swap spreads blurred the outlook for issuance.

    • 18 May 2017
  • Thrill-seeking Japanese investors behind rouble rally

    Japanese investors are snapping up Russian rouble MTNs and Uridashi in their search for higher yields, with SSAs the beneficiaries.

    • 18 May 2017
  • Issuers flurry after moment's silence in Kanga market

    The Kangaroo market witnessed a flurry of deals this week as issuers dipped into an investor base starved of paper. The rush of deals follows a period of inactivity during which pricing –– compared with other niche currencies –– had been unfavourable, forcing issuers to wait until costs worked for them again.

    • 18 May 2017
  • KfW latest investor to sharpen focus on SRI in portfolio

    KfW has raised the threshold of sustainability it requires as an investor, as part of a growing trend for bond buyers to focus on the impact of their investments.

    • 18 May 2017
  • Shine comes off EM as Trump administration rocked

    Just a day after EM bankers were predicting an endless summer of bond market bliss, came a US-led market wobble, which rival bankers said has caused leads to put the brakes on an expected trade from Lithuania.

    • 18 May 2017
  • Maldives primes market for international debut

    The Republic of the Maldives is looking to raise $200m from its debut international bond this year. Market watchers reckon the planned deal falls in line with China’s Belt and Road initiative, mirroring Sri Lanka’s choice earlier this month to hire Chinese banks for its dollar trade. Morgan Davis reports.

    • 18 May 2017
  • ADB issues Rp3bn Masala to fund renewable projects

    The Asian Development Bank (ADB) printed its inaugural Rp3bn ($47m) green Masala bond on Wednesday, aimed at supporting the financing of climate change mitigation and adaptation projects in India, the agency said.

    • 18 May 2017
  • Oman on track for public market sukuk debut

    Oman could launch its first public market sukuk as early as next week following the announcement of plans for an investor call to be held on Monday.

    • 18 May 2017
  • EFSF surprises with jumbo trade

    The European Financial Stability Facility confounded the expectations of syndicate bankers by opting to print €6bn of 16 year paper, despite having completed its second quarter funding programme.

    • 17 May 2017
  • EIB brings dollar 10s back in sight with debut dual trancher

    The European Investment Bank on Wednesday brought the first 10 year dollar benchmark from a triple-A SSA since the first week of the year, and despite tricky conditions found sufficient demand to increase the trade from its initial $1bn target. Adding a touch of novelty, the deal was part of what Dealogic data shows was EIB’s first ever dual tranche dollar benchmark.

    • 17 May 2017
  • Manitoba impresses in sterling debut

    The Province of Manitoba raised £350m with its first ever sterling benchmark on Wednesday, becoming the fourth Canadian province to print in the currency this year.

    • 17 May 2017
  • Senegal proves African sovereign star with blowout

    Senegal was fully rewarded for embarking on an extensive roadshow with a blowout trade on May 16, which not only repriced its own curve, but helped to reduce the borrowing costs of its peers.

    • 17 May 2017
  • SSAs power ahead in buoyant market

    The SSA market has played host to a series of strong deals this week and shows no signs of fatigue, as investors flock to make the most of the glut of supply.

    • 17 May 2017
  • Room for all in exuberant EM

    Emerging markets bond bankers can think of nothing to derail the ongoing bull-run and while this might point to hubris, this week’s trades have given no indication of fatigue.

    • 17 May 2017
  • EIB offers conventional/CAB dollar mix amid swap spread wobbles

    The European Investment Bank is set to take a novel approach to green bond issuance, after mandating for a dual tranche dollar deal — of which only one leg is a Climate Awareness Bond. Like Kommuninvest, which printed a four year dollar green bond on Tuesday, the supranational may have to contend with volatile dollar swap spreads.

    • 16 May 2017
  • UK breaks book record as investors hunt 40 year paper

    The UK drew its largest ever book as it printed its biggest syndication in nominal terms in nearly three years on Tuesday — taking care of nearly a quarter of its overall syndication programme for the 2017-18 financial year in the process. Bankers away from the trade suggested some of the rampant demand may be due to investor hunger for 40 year paper.

    • 16 May 2017
  • EFSF in euro wings as France goes big

    The European Financial Stability Facility is lining up a 16 year euro benchmark for Wednesday, following a blow-out €7bn 30 year OAT.

    • 16 May 2017
  • Manitoba to debut as Quebec goes tight in sterling

    The Province of Quebec on Tuesday added the third strong Canadian sub-sovereign deal in sterling this year, tightening 2bp from guidance and pricing through its domestic curve with its first trade in the currency in over 20 years. The Province of Manitoba is attempting to copy the success of its peers in sterling, after mandating for a debut deal.

    • 16 May 2017
  • Nordic Investment Bank taps Kangaroo belly

    The Nordic Investment Bank is raising funds in the middle of the Kangaroo curve, as a scarcity of mid-curve issuance allowed the leads to circulate tight pricing guidance.

    • 16 May 2017
  • Books of $7.7bn propel Senegal to $1.1bn

    Senegal has launched its 2033 amortising note to raise $1.1bn after books reached $7.7bn at 8:30am New York time on Tuesday.

    • 16 May 2017
  • Investors expecting a 'bun fight' as books hit $4bn for Senegal

    Books had reached $4bn on Tuesday before the US market opened for Senegal’s latest dollar outing, an amortising note maturing in 2033. Bankers and investors away from the mandate said they did not envy those dealing with the allocation process.

    • 16 May 2017
  • France to go long in another busy week

    The public sector debt market is in for another hectic week of borrowing as issuers flock to take advantage of the superb conditions left in the wake of Emmanuel Macron’s victory in the French election.

    • 15 May 2017
  • Quebec back in sterling after 20 year absence

    The Province of Quebec will print in sterling for the first time in over 20 years after hiring banks on Monday for a five year deal, joining other Canadian provinces in returning or debuting in the currency in 2017. The trade will come in the same week as the UK sovereign sells the first syndication of its 2017-18 financial year.

    • 15 May 2017
  • Ontario juices Aussie long end

    The Province of Ontario on Monday tapped its longest dated Australian dollar bond for the sixth time this calendar year. Strong market conditions have opened more windows for the Canadian province to enter the Kangaroo market.

    • 15 May 2017
  • KfW latest investor to sharpen focus on SRI in portfolio

    KfW has raised the threshold of sustainability it requires as an investor, the latest in a growing trend for bond buyers to focus on the impact of their investments.

    • 15 May 2017
  • Secondary pricing update: featuring EIB's €3bn April 2033

    Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

    • 15 May 2017
  • Volatility could be just round the corner

    Volatility indexes may be showing their lowest levels in years and Emmanuel Macron may be safely ensconced in the Élysée Palace, but it would be a brave person to say that the political risks are behind us this year.

    • 11 May 2017
  • EDC USD1.25bn 2% May 22

    • 11 May 2017
  • Finnvera EUR750m 1.125% May 32

    • 11 May 2017
  • SEK USD1.5bn 1.75% May 20

    • 11 May 2017
  • Bpifrance EUR1.5bn 1% May 27

    • 11 May 2017
  • EIB EUR3bn 1.125% Apr 33

    • 11 May 2017
  • SSAs eye long shots in hot euro market

    Emmanuel Macron’s election as French president last weekend was the catalyst for a flood of revved up euro deals this week, with issuers and investors aiming at the long end of the curve as the biggest known political risk in Europe this year passed with a market-friendly outcome. Craig McGlashan reports.

    • 11 May 2017
  • NRW.Bank EUR1bn 0.25% May 24

    • 11 May 2017
  • AFL EUR500m 0.5% Jun 24

    • 11 May 2017
  • CEB USD1bn 1.5% May 19

    • 11 May 2017
  • KfW EUR2bn 0.25% Jun 25 green bond

    • 11 May 2017
  • Dollar delight as swap spread moves and volatility brushed off

    Volatility late in the week failed to dampen a scorching few days of public sector dollar issuance, auguring well for more expected supply in the currency next week. Four issuers — some of which came this week to avoid other trades pencilled in for next week — were able to price deals at tight levels, with some coming through their curves.

    • 11 May 2017
  • European Union debuts in Schuldschein market

    The European Union has issued its first-ever Schuldschein, and may issue further such deals.

    • 11 May 2017
  • SRI pipe swells as KfW sets tone

    The SRI bond pipeline for public sector borrowers looks fit to burst, with a string of issuers planning deals and KfW setting a marker with a thumping trade this week.

    • 11 May 2017
  • Much Madoux about funding: Cades vet retires

    There was strong praise this week from senior SSA bankers for Patrice Ract Madoux, the long-serving chairman of Caisse d’Amortissement de la Dette Sociale, who is retiring from the position.

    • 11 May 2017
  • KBN opens dormant Kauri market

    Kommunalbanken on Tuesday became the first issuer to tap the Kauri market since February. The Nordic agency responded to reverse enquiries, tapping an eight year bond at an after-swap pricing level that was a little over its dollar curve.

    • 11 May 2017
  • SSAs love won direction thanks to new Moon

    Moon Jae-in’s victory in South Korea’s general election on Tuesday has some SSA issuers relishing the chance to finally print deals in won. Sharon Kimathi reports.

    • 11 May 2017
  • SSAs go long in euros but not all make it over line

    Public sector borrowers in the euro market on Thursday focused their attentions on the long end of the curve, but not every trade made it to full subscription.

    • 11 May 2017
  • Ontario brushes off volatility with tight dollar deal

    The Province of Ontario on Thursday rounded off a stellar week for dollar issuance with a trade that, like those a day earlier, was priced with minimal to no concession and with a well oversubscribed book. Ontario’s deal was perhaps more remarkable though, given a more volatile backdrop on Thursday trading.

    • 11 May 2017
  • European Union debuts in Schuldschein market

    The European Union has issued its first ever Schuldschein, and may issue further such deals.

    • 11 May 2017
  • South Korea credit welcomed back to Swiss market

    Korea Expressway Corp broke South Korean issuers’ silence in the Swiss market on Wednesday. As rates stabilise for Swiss investors, and basis swaps improve for foreign issuers, Zurich bankers hope this deal reignites more bonds from the Asian country.

    • 11 May 2017
  • SSAs dictate terms in dollars

    Public sector issuers “can do whatever they want” in a rampant dollar market, with investors ploughing into books despite deals pricing close to or flat to their curves.

    • 10 May 2017
  • ‘Crazily hot’ SSA mart enjoys tight pricing and long dated opportunities

    The European Financial Stability Facility has sent requests for proposals for a trade next week, as a pair of rare issuers on Wednesday placed deals flat to or through fair value in a euro market buoyed by Emmanuel Macron’s election as French president last weekend. Longer dated trades — of which the EFSF has sold several this year — also look to be back on the table for borrowers.

    • 10 May 2017
  • NWB to hit road for affordable housing bond

    Nederlandse Waterschapsbank will add a new item to SRI investors’ menu, after mandating banks on Wednesday to run a roadshow for a debut affordable housing bond.

    • 10 May 2017
  • SSAs in funding wonderland

    Public sector borrowers are smashing records harder than Emmanuel Macron hammered Marine Le Pen in the weekend’s French presidential election, as the market gets back into full swing after the big political risk of the year passed with the best possible outcome.

    • 10 May 2017
  • Out of the frying pan, but Europe’s fire isn’t over

    Emmanuel Macron’s two-stage victory in the French presidential election rightly brought relief to the eurozone bond markets — as well as to all those who believe in the European project as a force for good. But talk of a Macron presidency opening the way for further European integration in the form of jointly issued eurozone bonds is far too early.

    • 09 May 2017
  • Portugal considers renminbi entrance after China trip

    Mário Centeno, the Portuguese finance minister, has said that Portugal is considering issuing renminbi denominated bonds, according to Portuguese news agency Lusa.

    • 09 May 2017
  • KfW scores triple whammy with bumper green bond

    KfW has sold the largest ever new green bond issue from a supranational or European agency, printing flat to its curve with a green deal for the first time and drawing a remarkably high level of Asian investor interest for a euro trade. More SRI issuance is on the way, after Dutch agency FMO announced a sustainability bond roadshow.

    • 09 May 2017
  • SSAs storm back into dollars

    Public sector borrowers are rushing back into dollars after a quiet few weeks for the currency, with a trio of issuers taking indications of interest for Wednesday business.

    • 09 May 2017
  • ‘Window dressing’ should scare us

    The quarter-end and year-end problems in the repo market are scary enough, with collateral more important than ever before in financial markets. But what else is it concealing?

    • 09 May 2017
  • KBN pays up for Kauri tap

    Kommunalbanken responded to reverse enquiry on Tuesday, tapping an eight year Kauri bond at an after-swap pricing level that was a little over its dollar curve.

    • 09 May 2017
  • Cades picks new chairman as bankers hail retiring Madoux

    Caisse d’Amortissement de la Dette Sociale has appointed a veteran of the French social security sector to succeed its long-serving chairman Patrice Ract Madoux, who is retiring.

    • 09 May 2017
  • Bpifrance leads French comeback charge as euro market blooms

    Bpifrance Financement broke its size record on Tuesday, nipping back into capital markets ahead of several of its compatriots, according to a funding official at the issuer. The European Investment Bank (EIB) and NRW.Bank also made the most of the stable conditions, printing their own benchmarks.

    • 09 May 2017
  • KfW back in green euros

    KfW is set to bring its first green bond in euros in nearly a year, with the deal coming amid a flurry of conventional trades in the currency. KommuneKredit is also in the SRI pipeline, after running a roadshow to introduce its green bond framework.

    • 08 May 2017
  • SSA trio line up across euro curve

    Three public sector borrowers hit screens on Monday, mandating in a euro market buoyed by the defeat of National Front candidate Marine Le Pen in the final round of the French presidential election on Sunday.

    • 08 May 2017
  • EIF backs Spanish SMEs as part of funding initiative

    The European Investment Fund has agreed to guarantee 50% of a portfolio of Spanish SME credit originated by nine banks.

    • 08 May 2017
  • KBN turns to Kauri for eight year funding

    Kommnunalbanken is bookbuilding in the Kauri market, with the deal expected to close on Tuesday.

    • 08 May 2017
  • Stabilising oil provides platform for African sovs

    The price of oil provided a point of focus for emerging markets this week after a barrage of other macro events came and went without too much concern. Easing sales of Brent crude created a decent window for Senegal to bring its first dollar trade in almost three years.

    • 08 May 2017
  • Secondary pricing update: featuring EFSF's €6bn May 2027

    Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

    • 08 May 2017
  • Funding scorecard: Nordic agencies

    This week's funding scorecard looks at the progress Nordic agencies have made in their funding programmes.

    • 05 May 2017
  • UK DMO picks team for 2017-18 opener

    The UK Debt Management Office has picked the lead managers for the first syndication of its 2017-18 financial year, which it has scheduled for the week beginning May 15.

    • 05 May 2017
  • Sri Lanka wakes up investors with $1.5bn deal

    The Democratic Socialist Republic of Sri Lanka wowed investors with its new 10 year outing, securing a massive $11bn order book for a $1.5bn deal.

    • 05 May 2017
  • Green must stay in the eye of the beholder

    News that Volvofinans Bank, the finance arm of Volvo Cars, is planning a green bond backed by its loans on hybrid and other non-fossil fuel cars is a welcome sign of the green awareness spreading across the corporate world.

    • 04 May 2017
  • GC BondMarker: featuring EFSF's dual tranche

    The votes have been counted and the GC BondMarker verdict has been reached for last week's trades. See how they stacked up.

    • 04 May 2017
  • Euro pipeline thronged; Macron win priced in

    An enormous pipeline of euro paper has built up over the past few weeks as borrowers and investors wait, hoping that the result of Sunday’s presidential election in France will signal a return to business.

    • 04 May 2017
  • Public sector cure for repo market collapse won’t fix the problem

    Attempts by the German debt management office to prevent another collapse in the European repo market are not enough, according to market participants — though they may have benefited German taxpayers.

    • 04 May 2017
  • Turkey cashes in on strong rally to take $1.75bn with 30 year

    The Republic of Turkey has launched its largest 30 year bond since 2010, as investors shrugged off the recent constitutional referendum and dived in to catch the sharp rally in the country's spreads.

    • 04 May 2017
  • BNG and KBN double up with Kangaroo 10s

    Kommunalbanken increased an Australian dollar bond tap on Thursday, as the reopened 4.25% July 2025 line enticed Asian central banks, while Bank Nederlandse Gemeenten tapped a 10 year Australian dollar bond twice in a week, raising A$155m ($116.7m) from Asian investors.

    • 04 May 2017
  • Senegal adds to Africa pipe as GCC offer builds with Seco, Oman Trans

    New deals from the Middle East and Africa are beginning to flow as EM’s hot run gathers momentum. In the Gulf Cooperation Council, Saudi Electricity Co (Seco) and Oman Electricity Transmission are exploring dollar opportunities as Abu Dhabi Commercial Bank plots a comeback. Further south and west, Senegal has picked leads for a dollar comeback as the market awaits the results of Ivory Coast’s RFP.

    • 04 May 2017
  • MTNs tipped to rise after a low first quarter

    The MTN market is expecting a pick up in issuance in the second half of 2017, after a sluggish start to the year, as many public sector issuers race through their programmes via the public markets in the first few months.

    • 04 May 2017
  • Dollars to vie with euros for supply

    The public sector dollar market is set to put a series of obstacles behind it to resume full pace next week — but issuers may opt to instead take advantage of sumptuous conditions in euros.

    • 04 May 2017
  • Ontario returns to sterling, printing well-received floater

    Three public sector borrowers hit screens in sterling this week, including a rare floating rate note from the Province of Ontario, which made use of the currency for the first time in six years.

    • 04 May 2017
  • KBN adds another A$75m to Kanga tap

    Kommunalbanken increased an Australian dollar bond tap on Thursday, as the reopened 4.25% July 2025 line enticed Asian central banks.

    • 04 May 2017
  • FMS-W prices through mid-swaps with compact trade

    FMS Wertmanagement nipped into a quiet dollar market to print a three year Reg S only syndication, the issuer’s first dollar deal at that point of the curve to come through mid-swaps this year.

    • 04 May 2017
  • Senegal set to hit the road for dollar return

    Senegal will meet investors next week ahead of a potential return to the dollar market for the first time in nearly three years.

    • 04 May 2017
  • Turkey hits right note with 30 year

    The Republic of Turkey is out with guidance for a new 30 year note, in a move that rival bankers have said is “perfectly timed". The sovereign is on track to complete all of its planned funding for the year in the first five months.

    • 04 May 2017
  • Sri Lanka serves up new dollar notes

    The Democratic Socialist Republic of Sri Lanka opened books for a new dollar offering on Thursday, braving a quiet week in Asia's debt capital markets.

    • 04 May 2017
  • KBN prints tap and FMS-W lines up ahead of Fed meeting

    A pair of European borrowers have ventured into the otherwise deserted dollar market, ahead of a Federal Reserve rates decision tonight.

    • 03 May 2017
  • Ontario lands with sterling floater

    The Province of Ontario came to market for a rare sterling floater on Wednesday, sharing the UK currency market with a European Investment Bank deal.

    • 03 May 2017
  • Danske snaps up old boy to work on syndicate desk

    Morten Skaaning has returned to Danske Bank’s debt capital markets syndication desk after spending nearly three years at Arbejdernes Landsbank.

    • 03 May 2017
  • Ultra-long Treasury talk steepens curve

    An announcement that the US Treasury is contemplating extending its curve to 50, or even 100 years has pushed up long end yields.

    • 03 May 2017
  • When back office wins the business

    The traditional reasons that issuers pay investment banks are being eroded by regulation. But the staggeringly costly compliance and back office infrastructure is increasingly valuable.

    • 02 May 2017
  • The devil in the detail of Greece’s planned comeback

    The Greek government wants to return to the bond markets this year as soon as its latest round of bail-out negotiations ends — something that moved a step forward this week after the country agreed a deal with its creditors on a range of fiscal and structural reforms. But one look at where its outstanding debt is trading should make the government think twice before rushing back to the capital markets.

    • 02 May 2017
  • NWB taps long euros

    Nederlandse Waterschapsbank tapped a 24 year line for €250m on Tuesday.

    • 02 May 2017
  • BNG doubles up with Kangaroo 10s

    Bank Nederlandse Gemeenten has tapped a 10 year Australian dollar bond twice in a week, raising A$155m ($116.7m) from central Asian and Japanese investors.

    • 02 May 2017

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 09 May 2017
1 Barclays 8,822.61 13 9.07%
2 Citi 8,720.21 11 8.97%
3 BNP Paribas 8,107.13 11 8.34%
4 HSBC 7,792.06 12 8.01%
5 JPMorgan 6,400.12 9 6.58%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 May 2017
1 JPMorgan 25,552.69 63 5.96%
2 Citi 24,119.11 60 5.63%
3 Deutsche Bank 17,545.97 37 4.09%
4 HSBC 16,628.60 40 3.88%
5 Barclays 13,251.34 33 3.09%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 09 May 2017
1 Barclays 20,074.83 45 4.44%
2 JPMorgan 19,043.02 43 4.21%
3 BNP Paribas 17,726.77 29 3.92%
4 Bank of America Merrill Lynch 14,783.86 38 3.27%
5 HSBC 14,593.04 47 3.22%

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%