France in the news

  • SNCF Réseau EUR750m 2.3% Dec 47 green bond

    • 13 Jul 2017
  • EFSF to enter hot euro market, Greece too?

    The European Financial Stability Facility is set to enjoy enviable conditions when it comes to the euro market next week — during which the Greek sovereign could also make an appearance. Demand at the long end has been particularly strong due to a yield spike last week, which KfW and SCNF Réseau have since taken advantage of.

    • 13 Jul 2017
  • PPs providing long euros and FRNs

    The private placement market is proving its worth at the long end in euros and with dollar floaters, helping issuers make the most of excellent conditions.

    • 13 Jul 2017
  • SNCF Réseau and KfW snap up big bid at euro long end

    SNCF Réseau launched its first 30 year green bond on Tuesday, following the example set by European Investment Bank at the end of June. KfW was also out in euros with a long 15 year — and more borrowers might be tempted to bring euro deals at the long end, said bankers.

    • 11 Jul 2017
  • SSAs go long as euro govvie storm calms

    Respite from a two week old rout in eurozone government bond yields allowed two public sector borrowers on Monday to venture out with mandates for long dated euro deals. But analysts warned that the sovereign bond sell-off could have more room left to run.

    • 10 Jul 2017
  • AFD to bring more MTNs thanks to new licence

    Agence Française de Développement’s change to its banking licence will lead to it sell more private placements, according to Bokar Cherif, the head of the agency’s treasury.

    • 06 Jul 2017
  • Cades and AFT staff to merge

    Caisse d’Amortissement de la Dette Sociale (Cades), the French social security debt agency, is set to form a much closer working arrangement with Agence France Trésor, the French sovereign debt office, in an effort to reduce operational risk.

    • 06 Jul 2017
  • AFD’s new licence to mean more MTNs

    Agence Française de Développement’s plans to change its banking license will lead to it selling more private placements, according to Bokar Cherif, the agency's head of treasury.

    • 05 Jul 2017
  • Long end euro recovery boosts EFSF

    The long end of euro government bond curves appear to have regained their health once more after a wobble last week when comments from European Central Bank president Mario Draghi were thought to signal that quantitative easing would end sooner than expected.

    • 05 Jul 2017
  • AFD EUR1bn 1.375% Jul 32

    • 29 Jun 2017
  • EFSF next up in red hot euro market

    The euro market showed its strength for SSA borrowers this week, as Agence Française de Développement succeeded in bringing a deal after requesting a change in its banking licence and KfW kept up its record of raising €5bn with every euro benchmark this year despite a volatile backdrop.

    • 29 Jun 2017
  • AFD scoops €1bn after licence switch request

    Agence Française de Développement has passed its first capital markets test since asking for permission to change its banking licence, raising €1bn with a 15 year deal on Wednesday. The choice of tenor may have helped alleviate any immediate problems over its status switch, said a person close to the deal.

    • 28 Jun 2017
  • Euros on fire as Spain and KfW go large, AFD and EFSF line up

    Euro conditions are excellent for public sector borrowers, with Spain pulling in a nearly €30bn book for an €8bn 10 year — which bankers away from the trade said indicated a high presence of quality investors — and KfW raising €5bn after picking a seven year deal over a shorter tenor. Another pair of issuers are now looking to take advantage.

    • 27 Jun 2017
  • Green market doesn't need govvies

    Market participants are clamouring for sovereigns to join France and enter the green bond market. It would likely help the market, but would it help the environment?

    • 22 Jun 2017
  • Sovereigns deaf to clamour for green bonds

    Calls are growing louder for sovereigns to pull their weight and assume a leading role in the development of the green bond market. But, as was demonstrated at panels in Euromoney’s Global Borrowers & Bond Investors Forum this week, many of them are reluctant to take up the SRI baton, write Lewis McLellan and Sharon Kimathi.

    • 22 Jun 2017

Dealer League Table France

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jul 2017
1 SG Corporate & Investment Banking 2,788.53 2 18.35%
1 BNP Paribas 2,788.53 2 18.35%
3 JPMorgan 1,534.38 1 10.10%
3 HSBC 1,534.38 1 10.10%
3 Citi 1,534.38 1 10.10%

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Citi 14,891.10 17 9.46%
2 Barclays 12,759.91 17 8.11%
3 HSBC 12,732.87 18 8.09%
4 BNP Paribas 12,133.14 16 7.71%
5 JPMorgan 10,382.02 14 6.60%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Citi 33,810.56 82 12.15%
2 JPMorgan 30,730.06 80 11.05%
3 HSBC 21,125.88 53 7.59%
4 Bank of America Merrill Lynch 20,817.31 63 7.48%
5 Deutsche Bank 19,672.75 44 7.07%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 HSBC 26,261.47 79 7.41%
2 Barclays 25,367.48 60 7.15%
3 BNP Paribas 25,241.18 48 7.12%
4 UniCredit 25,109.75 69 7.08%
5 JPMorgan 25,047.63 70 7.06%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 65,312.22 223 7.51%
2 JPMorgan 64,705.99 351 7.44%
3 HSBC 56,834.76 211 6.54%
4 Barclays 49,199.38 146 5.66%
5 Bank of America Merrill Lynch 46,028.22 140 5.29%