• KfW runs blockchain ECP test

    KfW has entered the Blockchain race, after simulating a trade in real time using distributed ledger technology, the agency said on Monday.

    • 25 Sep 2017
  • BNG brings dollar threes as swap spreads rise

    Bank Nederlandse Gemeenten has opened dollar proceedings for the week, mandating for a three year trade as swap spreads in the tenor hit their highest level in months. Other issuance in the currency could come from European Investment Bank, which has been rumoured to be considering a deal for a few weeks.

    • 25 Sep 2017
  • Eurozone bond spreads recover from German election surprise

    Germany’s federal election on Sunday caused ripples in government bond spreads throughout the eurozone on Monday, but concerns are subsiding already, allowing one agency to announce its first euro green bond.

    • 25 Sep 2017
  • Saudi returns to conventional market

    Saudi Arabia will return to the international capital markets this year and has named leads for a triple tranche conventional bond.

    • 25 Sep 2017
  • Jordan asks for long-term commitment

    Jordan is this week on the road and is looking to extend its bond curve out to 30 years. Its longest outstanding bond to date is due to mature in January 2027.

    • 25 Sep 2017
  • Masala bonds get lifeline with RBI rule tweak

    In a fillip to the Masala bond market, the Reserve Bank of India is excluding offshore rupee-denominated bonds from the investment limits for foreign portfolio investors in corporate debt, effective October 3.

    • 25 Sep 2017
  • SSA secondary pricing update: featuring Austria's century bond

    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.

    • 22 Sep 2017
  • China’s downgrade won’t scare investors

    China’s downgrade by S&P caused an initial wave of surprise in the market on Thursday, but the rating change will ultimately be a non-event, despite the sovereign plotting a return to dollar bonds shortly.

    • 22 Sep 2017
  • Why Mexico’s cat bond won’t pay out yet

    The devastating earthquake that hit Mexico this week could well mean a pay-out from a World Bank catastrophe bond issued in early August that provided the country with insurance protection against such a disaster. But Mexico’s chosen structure for the bond means that any cash payment is unlikely to be made for at least 30 days, while more data is collected.

    • 21 Sep 2017
  • Hawkish Fed moves 10 year dollars into SSAs’ sights

    A slightly more hawkish than expected US Federal Open Market Committee meeting mid-week has nudged up US Treasury yields — bringing 10 year dollar issuance nearly within SSAs’ reach, said bankers. But in the meantime, SSA bankers are looking at the dollar pipeline with dismay.

    • 21 Sep 2017
  • BondMarker results: Austria’s century venture scored

    The eurozone’s first ever 100 year syndication launched last week, much to the excitement of the SSA market. Read on to see how the BondMarker voters rated Austria’s €3.5bn effort, as well as trades from Finland, Kommuninvest, Nordic Investment Bank, European Investment Bank and Dexia.

    • 21 Sep 2017
  • OeKB enjoys strong comeback in otherwise quiet euro market

    Oesterreichische Kontrollbank found an almost empty market as it made a strong return to euro issuance after nearly a decade of absence. The lack of other benchmarks surprised some bankers — although opportunistic deals and SRI issuance now seems likely to make up the bulk of the remaining deals this year with most issuers very well funded.

    • 21 Sep 2017
  • Russia woos new investors with dual tranche increase

    Russia tapped its dollar denominated June 2027 and 2047 bonds on Wednesday, with a lead saying that many names new to the sovereign had bought into the debt reopening.

    • 21 Sep 2017
  • OeKB EUR1.5bn 0.25% Sep 24

    • 21 Sep 2017
  • Contrasting fortunes in Iberia

    The Spanish central government’s stand-off with the executive in Catalonia over an upcoming independence referendum is failing to worry Bono investors — but some bankers believe the market could soon be hit by a bout of volatility unless an agreement is reached. The Spanish situation was in marked contrast to the country’s western neighbour, as Portugal enjoyed a strong week after regaining investment grade status from S&P.

    • 21 Sep 2017
  • Supras bank dollars with flurry of MTNs

    The MTN market has produced a slew of dollar trades while the syndicated market was subdued by the midweek Federal Reserve meeting. Supranationals in particular have been able to pick up some sizeable dollar funding.

    • 21 Sep 2017
  • Social bond growth potential ‘immense’

    The potential for social bond volume growth is “immense”, according to a leading figure from the SRI buy-side. The comments came as a pioneer of the social bond market brought the first ever Swedish krona trade in the format.

    • 21 Sep 2017
  • Smart Slovenia wins praise for clever bond exchange

    Slovenia tapped two euro bonds for €700m this week to exchange investors out of some of its dollar debt, in a move that bankers said shows the issuer is one of Europe’s most astute borrowers.

    • 21 Sep 2017
  • Hawkish Fed ‘brings 10 year dollar option nearer’

    A slightly more hawkish than expected US Federal Open Market Committee meeting mid-week has nudged up US Treasury yields — bringing 10 year dollar issuance nearly within SSAs’ reach, said bankers.

    • 21 Sep 2017
  • Ukraine $3bn return blows out but sags in secondary market

    Ukraine made a barnstorming return to the international bond market this week and extended its curve to 15 years, though the new deal has slipped below reoffer in the secondary market.

    • 21 Sep 2017
  • Kexim keeps Singapore investors engaged with bond

    Export-Import Bank of Korea decided to woo Singapore dollar bond investors with its latest debt deal, and not only expanded its relationships with local currency accounts but also offered them some welcome diversification.

    • 21 Sep 2017
  • EIB tempts Aussies with green Kangaroo

    The European Investment Bank tapped its January 2028 Australian dollar Climate Awareness Bond on Wednesday. The bond’s green credentials attracted investors rarely seen that far along the credit curve, a promising sign of the market’s maturity.

    • 20 Sep 2017
  • L-Bank picks up $500m with cheeky pre-Fed floater

    L-Bank has snuck in at the last possible moment before the end of a crucial US Federal Reserve meeting to raise $500m with a comfortably oversubscribed floater.

    • 20 Sep 2017
  • Slovenia ducks in for double euro reopening

    Slovenia has set final terms on a €700m combined tap of its 2027 and 2040 notes, with leads expecting the trade to have wrapped up by early afternoon on Wednesday.

    • 20 Sep 2017
  • South Africa shakes off macro worries with duo

    South Africa has printed a $2.5bn dual tranche bond that analysts said was attractive despite the country’s recent economic and political woes.

    • 20 Sep 2017
  • Islamic Development Bank sails through sukuk pricing

    Islamic Development Bank printed $1.25bn of sukuk on Tuesday that was firmly targeted at the sovereigns, supranationals and agencies crowd despite its emerging market jurisdiction.

    • 20 Sep 2017
  • HY and EM investors gorge on front-loaded supply

    Corporate issuer debuts and long awaited sovereign market returns have given emerging market investors an array of trades to look at this week, surprising some who thought they were in for little more than watching the US Federal Open Markets Committee meeting on Wednesday.

    • 20 Sep 2017
  • Social bond potential ‘immense’, says investor

    The potential for social bond volume growth is “immense”, according to a leading figure from the SRI buy-side. The comments came as a pioneer of the social bond market brought the first ever Swedish krona trade in the format.

    • 20 Sep 2017
  • Kexim goes to Lion City for Sing dollar bond

    The Export-Import Bank of Korea is continuing the deluge of South Korean issuers venturing offshore, marketing a Singapore dollar transaction on Wednesday morning.

    • 20 Sep 2017
  • Cabei veteran joins IIC treasury

    Central American development bank Cabei’s acting head of capital markets is moving to Washington, DC to become lead funding officer at the Inter-American Investment Corporation (IIC) in the treasury division.

    • 20 Sep 2017
  • OeKB back in euros — with a bang

    Oesterreichische Kontrollbank has made a triumphant return to euros on Tuesday as it printed in the currency following a more than eight year absence. Elsewhere, Nederlandse Waterschapsbank sold a small long dated euro tap — a tactic SSA bankers expect to see more of.

    • 19 Sep 2017
  • Who cares about tapering? Investors don't seem to

    If the market commentariat thinks that the buy-side should be worried by upcoming European Central Bank tapering, then someone has yet to tell investors.

    • 19 Sep 2017
  • Heavyweight returns to SSA and EM market

    A big name in SSA and emerging markets syndicate has returned to the primary markets, joining the desk at a French bank.

    • 19 Sep 2017
  • EIB looks for Kanga green buyers

    The European Investment Bank opened a tap to its January 2028 Australian dollar Climate Awareness Bond on Tuesday.

    • 19 Sep 2017
  • China fumbles as it eyes dollar market return

    It’s been 13 years since China last sold a dollar bond. Since the news this summer that the Middle Kingdom was eyeing a return to the offshore debt market, bankers and investors have kept a close eye on any official news of the transaction. But as the end of the year nears, it appears as though China missed its mark for issuing an earth shattering bond.

    • 19 Sep 2017
  • OeKB alone in core currencies in big FOMC week

    Oesterreichische Kontrollbank is the only public sector issuer on screens for Tuesday business in either euros or dollars, with supply in the latter likely to be dampened this week due to a crucial US Federal Reserve meeting.

    • 18 Sep 2017
  • SSA secondary pricing update: featuring OTFT's dollar debut

    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.

    • 18 Sep 2017
  • Funding scorecard: supranationals

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

    • 18 Sep 2017
  • Wanted: executable trades for solid EM bond market

    The EM bond market is primed for trades this week, though syndicate bankers said that there were few names ready to pull the trigger other than Ukraine and the Islamic Development Bank (IDB), which have already hit screens.

    • 18 Sep 2017
  • Ukraine splits opinion with initial pricing

    Ukraine opened books on its first Eurobond since 2013 on Monday, with the pricing labelled both “attractive” and “silly” by different corners of the market at initial price thought levels.

    • 18 Sep 2017
  • Pakistan issues RFP for international sukuk

    The Islamic Republic of Pakistan is hiring banks to lead its international sukuk issuance, issuing a request for proposals over the weekend.

    • 18 Sep 2017
  • FMS-W EUR1.5bn 0% Sep 20

    • 14 Sep 2017
  • Finland USD1bn 1.5% Sep 20

    • 14 Sep 2017
  • OTFT USD1.75bn 2.125% Sep 22

    • 14 Sep 2017
  • BondMarker results: the September rush

    Last week brought a slew of high quality deals, despite the ECB meeting on September 7 causing some issuers to hold off. Those that went ahead have been scored by the BondMarker voters. Read on to see how they did.

    • 14 Sep 2017
  • EIB EUR3bn 0.05% Dec 23

    • 14 Sep 2017
  • EIB and FMS-W offer investors last taste

    Two high quality euro borrowers printed what may be among their last benchmarks of the year this week, squeezing new issue premiums flat to the curve as investors filled their boots.

    • 14 Sep 2017
  • Austria EUR4bn 0% Sep 22, EUR3.5bn 2.1% Sep 17

    • 14 Sep 2017
  • NIB USD1bn 1.625% Nov 20

    • 14 Sep 2017
  • Dexia USD2bn 2.375% Sep 22

    • 14 Sep 2017
  • SSAs break records in hot dollar market but supply could cool

    Strong short end dollar demand led a host of issuers to print tight deals this week, including one debut. Investor appetite is expected to stay strong, but bankers are sceptical that there will be much supply.

    • 14 Sep 2017
  • Kommuninvest USD1bn 1.625% Sep 20

    • 14 Sep 2017
  • Extraordinary rates and hope of support drive $15bn Bahrain book

    Bahrain raised $3bn this week, reopening the market for Gulf bonds after a long summer of political tension in the region. Despite deteriorating financials and a rising debt burden, exceptional market conditions, and expectations of support from its larger neighbour, boosted the book to $15bn, writes Virginia Furness.

    • 14 Sep 2017
  • Kingdom of Bahrain USD700m 7.5% Sep 47, USD1.25m 6.75% Sep 29, USD850m 5.25% Mar 25

    • 14 Sep 2017
  • Austria smashes expectations with century bond

    Austria's 100 year bond, priced on Tuesday, highlighted just how far investors will go — and in their droves — to earn a bit of yield, with even the imminent threat of rising rates in euros unable to deter them from placing orders more than three times the size of a deal that was by no means measly. Lewis McLellan reports.

    • 14 Sep 2017
  • Russia roundup: CBM added to SIB list, NLMK issues, sovereign details buy-back

    The Central Bank of Russia (CBR) has added Credit Bank of Moscow (CBM) to its list of systemically important banks (SIBs) this week, prompting a 2.5 cash point rally in the issuer’s subordinated bonds.

    • 14 Sep 2017
  • World Bank goes large with Kanga fives

    World Bank raised A$850m ($678.7m) in the Kangaroo market this week by printing a new September 2022 line, the largest Australian dollar SSA bond in the last three years.

    • 14 Sep 2017
  • NIB uses two-way CSA to tap niche currency demand

    Nordic Investment Bank is now using two-way credit support annexes for 85% of its outstanding swaps, allowing the supranational to take advantage of hot demand for emerging market currency MTNs.

    • 14 Sep 2017
  • Kommuninvest prints dollar threes at tightest ever spread in ‘bid-only’ market

    Kommuninvest kept up this week’s trend for tightly priced short end dollar deals as it achieved its tightest ever spread to swaps on Thursday. Big demand for short dollar paper is creating a “bid-only” market, according to bankers.

    • 14 Sep 2017
  • KDB defies North Korea volatility for $1bn bond

    Korea Development Bank assured investors that all is well in the South Korean market by selling a closely watched triple tranche deal the day after the United Nations announced sanctions against its northern neighbour. The policy bank managed to grab $1bn, but the transaction wasn’t without its challenges. Morgan Davis reports.

    • 14 Sep 2017
  • Slovenia runs with sixth dollar buy-back

    Slovenia is once again borrowing in euros to fund a buy-back of its dollar debt as it looks to cut its liabilities in the currency. This is the borrower’s sixth such transaction over the course of two years.

    • 14 Sep 2017
  • Kommuninvest joins NIB and Finland in threes

    Kommuninvest is set to complete a trio of three year dollar benchmarks from SSAs this week, after Nordic Investment Bank comfortably priced in the tenor on Wednesday.

    • 13 Sep 2017
  • EIB lands €3bn deal 2bp inside guidance

    The European Investment Bank raised €3bn with a December 2023 EARN on Wednesday, coming hot on the heels of Austria's €7.5bn dual tranche, but the flow of euro deals appears to be abating with no borrowers hitting screens for Thursday.

    • 13 Sep 2017
  • World Bank goes large with new Kangaroo fives

    World Bank has raised A$850m ($678.7m) in the Kangaroo market by printing a new September 2022 line, the largest Australian dollar SSA bond of the year.

    • 13 Sep 2017
  • Bahrain draws barmy $15bn book

    Kingdom of Bahrain drew orders of $15bn for its $3bn triple-tranche trade on Wednesday, having crushed the chunky new issue concession at price talk by as much as 50bp.

    • 13 Sep 2017
  • KDB makes statement with $1bn deal amid North Korea turmoil

    Korea Development Bank made a strong statement to the market with a $1bn triple-tranche deal on Tuesday, despite some investors being wary about North Korea and others balking at the price.

    • 13 Sep 2017
  • Tajikistan USD500m 7.125% Sep 27

    • 13 Sep 2017
  • Dollar market flourishing as three launch trades, one mandates

    Three borrowers came to market for dollar paper on Tuesday and another hit screens announcing a transaction on Wednesday, as bankers reported strong conditions in the currency.

    • 12 Sep 2017
  • Saudi's reform revisions a worrying reversal

    Saudi Arabia is reportedly planning to dilute its much touted National Transformation Program, a worrying sign for investors that confirms the doubts of observers who said the country’s Vision 2030 plan was too ambitious.

    • 12 Sep 2017
  • Investors 'amazed' by Austria 100 year bond

    Austria, defying any concerns about the normalisation of monetary policy, launched the first ever 100 year syndication in Europe on Tuesday, exciting investors with a 2.112% yield.

    • 12 Sep 2017
  • Nordic SSAs prepare green impact guide

    A group of Nordic public sector issuers are preparing a “practical guide on impact reporting” in the green bond market. While the initial aim is to assist Nordic borrowers in the public and private spheres, the authors hope that it could prove useful for issuers from other countries too.

    • 12 Sep 2017
  • Austria storms into century club

    Austria has become the first eurozone sovereign to syndicate a 100 year bond, selling €3.5bn to investors desperate to pile cash into ultra-long paper.

    • 12 Sep 2017
  • KDB offers fixed and floating options in triple tranche deal

    The Korea Development Bank is courting investors for a triple-tranche dollar offering, including a new floating rate note and a fixed rate note, as well as a tap of its existing floating 2022s.

    • 12 Sep 2017
  • US insurers, cities well placed to cope with Irma and Harvey — moms and pops less so

    Financial markets in the US reacted with relief today, as the devastation wrought in Florida by Hurricane Irma may be less bad than feared a few days ago. Most large US institutions affected ought to be financially strong enough to withstand the losses — but there could be heavy economic damage for people and businesses not covered by insurance.

    • 11 Sep 2017
  • Funding scorecard: European supranationals and agencies

    This week's funding scorecard looks at the funding progress various European supranationals and agencies have made in their funding programmes as we head into the September rush.

    • 11 Sep 2017
  • Austria eyeing century bond

    Austria has picked banks for a five year bond to be launched on Tuesday, but may also extend its curve to 100 years.

    • 11 Sep 2017
  • Debut borrower set for dollar fives

    A new name for the SSA market hit screens on Monday, picking three banks to run a dollar five year transaction. The borrower will share the market with dollar trades from Dexia Crédit Local and Finland.

    • 11 Sep 2017
  • Lewin and Köb change jobs at Zurich Insurance

    Zurich Insurance Group is reshuffling two of its most senior responsible investment officials, who are moving to new roles.

    • 11 Sep 2017
  • Russian Railways readies a return to Swiss market

    Russian Railways will meet investors on Wednesday to discuss its first Swiss franc bond in five years.

    • 11 Sep 2017
  • Shorting Australia and securitization for MDBs: ideas from Sustainable Capital Markets Forum

    Two hundred delegates gathered in Amsterdam on Tuesday September 5 for Euromoney Conferences’ fifth Sustainable and Responsible Capital Markets Forum. For the second time, it was organised jointly with GlobalCapital.

    • 11 Sep 2017
  • Green coup: SEB hires funding chief from Washington supra

    One of the public sector bond market's best known and liked heads of funding has quit the International Finance Corporation (IFC) to join SEB.

    • 08 Sep 2017
  • Capital markets head leaves NatWest

    The global head of debt capital markets at NatWest Markets has decided to leave the bank after nearly 20 years.

    • 08 Sep 2017
  • Secondary pricing update: featuring the UK's £4bn 2065 tap

    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 Sep 2017
  • BondMarker results: a high grade euro showdown

    The votes are in and three high quality issuers from last week's slew of public sector benchmarks are featured in this week's breakdown of the BondMarker results.

    • 07 Sep 2017
  • CEB GBP500m 0.625% Jun 22

    • 07 Sep 2017
  • Supras enjoy super dollar fives, but window may be shut

    A lack of five year dollar supply and an acceptance that since the summer issuers need to offer a bit more juice helped a pair of supranationals launch strong trades this week. Other supras are rumoured to be considering follow-on deals next week, although some bankers warn that investor appetite may be sated for the moment, and everything could hinge on how a sharp US Treasury move late on Thursday plays out.

    • 07 Sep 2017
  • KfW EUR5bn 0.5% Sep 27

    • 07 Sep 2017
  • IADB USD3bn 1.75% Sep 22

    • 07 Sep 2017
  • ADB USD4bn 1.75% Sep 22

    • 07 Sep 2017
  • Investors power through ECB meeting

    A tremendously supportive SSA market brushed off Thursday’s European Central Bank (ECB) meeting, printing all the way up to the morning of the press conference by bank president Mario Draghi, writes Lewis McLellan.

    • 07 Sep 2017
  • NRW.Bank EUR500m 0.5% Sep 27 green bond

    • 07 Sep 2017
  • KfW GBP300m 0.375% Dec 20

    • 07 Sep 2017
  • Ico EUR1bn 0.25% Apr 22

    • 07 Sep 2017
  • UK GBP4bn 2.5% Jul 65 tap

    • 07 Sep 2017
  • AFD USD1.25bn 1.875% Sep 20

    • 07 Sep 2017
  • UK draws record book amid hefty Gilt rally

    The UK this week once again broke its record order book, with bankers suggesting the huge demand may have been down to investors taking their last chance for ultralong sovereign sterling paper for some time.

    • 07 Sep 2017
  • AFD returns to dollars with a bang

    Agence Française de Développement stormed back into the dollar market on Thursday, printing its largest trade in the currency in six years with a comfortable oversubscription and tightened pricing. The deal put to rest AFD’s pulled dollar trade in February, said bankers.

    • 07 Sep 2017
  • CEB scoops largest sterling ever as market booms

    The sterling market is on fire for SSA borrowers. Attractive conditions and investors with cash to deploy have come together to produce some of the market’s most impressive deals of the year, with more in the pipeline.

    • 07 Sep 2017
  • Natixis hires FI sales head for Americas

    Natixis has hired Bryan North-Claus as head of fixed income sales Americas, as part of the French bank's push to improve its American business.

    • 07 Sep 2017
  • Bahrain goes for ‘ambitious’ 30 year

    The Kingdom of Bahrain has hired banks for a multi tranche Islamic and conventional trade that at the long end could stretch as far as 30 years, a tenor that some bankers have labelled “ambitious”.

    • 07 Sep 2017
  • IADB grabs dollar fives chance as AFD makes triumphant return

    Inter-American Development Bank won a big reception on Thursday as it completed its benchmark funding for the year with a five year dollar global that rode on the coattails of a similar trade by Asian Development Bank a day earlier. Agence Française de Développement also made a triumphant return to dollars after a pulled trade in February, as it matched its largest ever deal in the currency for size.

    • 07 Sep 2017
  • CEB scoops its largest sterling trade ever

    Council of Europe Development Bank launched its largest ever sterling trade on Thursday, selling its first trade in the currency in over 18 months in what is proving an enormously supportive market.

    • 07 Sep 2017
  • ECB holds fire on tapering as euro strengthens

    The European Central Bank kept mum on any plans to begin removing monetary support on Thursday, failing even to rule out the possibility of swelling the size or duration of its €60bn per month asset purchase programme.

    • 07 Sep 2017
  • Southeast Asia bond supply set to slow down

    Southeast Asian companies have pulled off a dramatic increase in dollar bond issuance this year. But with Indonesia still representing the bulk of deals from the region, bankers are bracing themselves for a slow down as the end of the year approaches. Addison Gong reports.

    • 07 Sep 2017
  • Turkey defies soft market to opens taps on dollar 2047s

    Turkey ignored softness in the market to double the size of its 30 year dollar bonds on Wednesday, after reopening its May 2047s for a further $1.75bn.

    • 07 Sep 2017
  • IADB dives into fives after ADB stormer, as AFD returns after pulled deal

    Inter-American Development Bank will on Thursday attempt a five year dollar benchmark, copying a Wednesday deal from Asian Development Bank that bankers on the trade said was the best dollar deal since the summer. Agence Française de Développement is also out with a dollar benchmark — its first since a pulled trade in February.

    • 06 Sep 2017
  • NRW.Bank scores with ‘smooth’ 10 year green note

    NRW.Bank launched its fifth green bond on Wednesday, sneaking in just ahead of Thursday’s European Central Bank meeting.

    • 06 Sep 2017
  • CEB up next, other supras looking as KfW prints in buoyant sterling mart

    Public sector borrowers are finding healthy seams of sterling funding in various tenors, as Council of Europe Development Bank lined up to follow a Wednesday trade by KfW — and there are rumours that more supranationals could consider deals in the currency. Attractive arbitrage levels and large redemptions are helping drive supply and demand respectively, said bankers.

    • 06 Sep 2017
  • GlobalCapital Sustainable and Responsible Capital Markets Awards 2017: the Winners

    France, Tennet, NWB and Berlin Hyp are among the green and social bond issuers acclaimed in GlobalCapital's Sustainable and Responsible Capital Markets Awards 2017, which were announced on Tuesday in Amsterdam.

    • 06 Sep 2017
  • ECB tapering ‘unlikely to dim SSA demand’, say investors

    Investor appetite for SSA paper is unlikely to fall even if the European Central Bank hints at tapering quantitative easing at its governing council meeting on Thursday — although several on the buy-side believe there is unlikely to be any change in policy before the next gathering in October.

    • 06 Sep 2017
  • UK DMO grabs £5.3bn with 2065 tap

    The UK Debt Management Office (DMO) tapped a 2065 line for £4bn on Tuesday, upping the size of the transaction because of “impressive quality of demand”.

    • 05 Sep 2017
  • ADB aims for dollar benchmark in hotly demanded five year tenor

    The Asian Development Bank hit screens on Tuesday announcing a dollar benchmark in a maturity that investors have been crying out for.

    • 05 Sep 2017
  • KfW and Ico scoop up stellar euro trades as NRW.Bank lines up green bond

    A pair of European agencies landed in euros on Tuesday, attracting huge books and tightening their spreads, indicating a promising backdrop for NRW.Bank’s green bond scheduled for Wednesday.

    • 05 Sep 2017
  • Market ripe for Ukraine return

    Ukraine is understood to have picked banks for its first Eurobond since 2013, and following a massive rally of the sovereign’s bonds, its reception in the market is expected to be strong.

    • 05 Sep 2017
  • EIB expected in dollars but North Korean risks loom

    The European Investment Bank is widely expected to hit screens with a five year dollar bond this week but, with the US market sidelined for the Labor Day holiday, the SSA market will have to wait for the supranational’s mandate.

    • 04 Sep 2017
  • SSAs push out curve in euros

    A pair of public sector borrowers are set to bring their longest dated euro benchmarks in some time on Tuesday, as underlying rates for both issuers fell slightly on Monday.

    • 04 Sep 2017
  • Secondary pricing update: featuring EFSF's €2bn Sep 2040

    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.

    • 01 Sep 2017
  • Funding scorecard: European sovereigns

    Find out how far European sovereigns have progressed with their funding plans as we come out of the summer season.

    • 01 Sep 2017

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 16,088.76 20 8.58%
2 HSBC 15,210.51 21 8.11%
3 BNP Paribas 13,600.58 19 7.25%
4 Barclays 13,491.76 19 7.19%
5 Goldman Sachs 12,661.40 23 6.75%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 40,395.00 104 11.55%
2 JPMorgan 39,421.51 106 11.27%
3 Bank of America Merrill Lynch 28,165.08 86 8.06%
4 HSBC 26,016.15 67 7.44%
5 Deutsche Bank 23,191.31 55 6.63%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 31,962.39 92 7.69%
2 UniCredit 30,615.95 95 7.36%
3 Goldman Sachs 28,739.59 76 6.91%
4 BNP Paribas 28,348.17 57 6.82%
5 Barclays 26,617.69 64 6.40%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 77,028.94 262 7.30%
2 JPMorgan 75,557.48 438 7.16%
3 HSBC 68,702.85 245 6.51%
4 Bank of America Merrill Lynch 58,336.30 179 5.53%
5 Barclays 53,257.86 172 5.05%