France in the news

  • GC Bondmarker: featuring France's return to capital markets.

    The relief rally sparked by Emmanuel Macron's victory in the French presidential election is yet to fully evaporate and the Europe's public sector borrowers have been taking full advantage of it. Read on to see how GC BondMarker voters rated France's return to capital markets as well as the rest of the benchmarks.

    • 25 May 2017
  • CDC latest SSA to revive sterling flow

    Caisse des Dépôts et Consignations looks likely to be the latest public sector borrower to return to the sterling market after a long absence, after it hired banks to hold investor meetings next week.

    • 24 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
  • France EUR7bn 2% May 48

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

    • 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
  • AFL EUR500m 0.5% Jun 24

    • 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
  • 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
  • ‘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
  • 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

Dealer League Table France

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 May 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
  • 23 May 2017
1 Barclays 10,691.12 15 8.76%
2 BNP Paribas 10,516.31 14 8.62%
3 Citi 10,121.17 12 8.30%
4 HSBC 9,193.03 13 7.53%
5 JPMorgan 8,809.30 12 7.22%

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
  • 23 May 2017
1 JPMorgan 22,518.92 50 8.33%
2 BNP Paribas 21,790.92 38 8.06%
3 Barclays 21,543.33 50 7.97%
4 HSBC 19,548.33 56 7.23%
5 UniCredit 18,534.46 46 6.86%

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%