UK in the news

  • EIB sets up green bond 'Rosetta Stone'

    The European Investment Bank (EIB) and other market actors are working on a system to match investors’ views on what is a ‘green’ bond with suitable deals in the market.

    • 14 Jul 2017
  • Secondary pricing update: featuring the UK's linker 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.

    • 14 Jul 2017
  • UK GBP2.5bn 0.125% Nov 56 linker tap

    • 13 Jul 2017
  • UK breaks records again with super smooth linker

    The UK Debt Management Office broke yet another record on Tuesday, building its largest ever book in cash terms for an inflation-linked syndication. The demand was such that the bond then tightened in secondary to move past the fair value level at the book open, said one of the leads.

    • 13 Jul 2017
  • UK breaks linker record, market comes back for more

    The UK Debt Management Office broke yet another record on Tuesday, building its largest ever book in cash terms for an inflation linked syndication. The demand was such that the bond then tightened in secondary to move past the fair value level at the book open, said one of the leads.

    • 11 Jul 2017
  • Sterling ignores election as UK DMO plans, SSAs print

    The sterling market for public sector borrowers has trundled back into gear after the shock UK election result on June 8. A series of issuers printed through this week, while the UK Debt Management Office announced its plans for the second syndication of the 2017-18 financial year.

    • 29 Jun 2017
  • UK picks next syndication

    The UK Debt Management Office has selected the bond to be issued at the second syndication of its 2017-18 financial year, picking a bond at the long end of its target range.

    • 26 Jun 2017
  • BoE split provokes Gilts wobble

    In contrast with its US counterpart this week, the Bank of England elected to keep its base interest rate on hold at 0.25% at its meeting on Thursday. However, the vote was closer than expected and the circling hawks caused a sell-off in Gilts and may have spoiled the outlook for sterling borrowing.

    • 15 Jun 2017
  • Split BoE hits Gilts

    In contrast with its US counterpart this week, the Bank of England elected to keep its base interest rate on hold at 0.25% at its meeting on Thursday. However, the vote was closer than expected and the circling hawks caused a sell-off in Gilts.

    • 15 Jun 2017
  • UK election surprise to ‘throw up opportunities’ in sterling

    A shock result in the UK general election on Thursday had little effect on the Gilt and sterling SSA market on Friday, leaving the door open for any issuers considering deals next week, said bankers. The medium term picture may be harder to glean, however, with sterling’s fall against the dollar potentially impacting the cross currency basis swap between the two.

    • 09 Jun 2017
  • Gilt yields, sterling deals await UK election result

    Public sector borrowers are considering sterling deals next week — but any issuance will hinge on the result of the UK’s general election on Thursday. The vote will also have a large bearing on Gilt yields, said analysts.

    • 08 Jun 2017
  • UK could extend curve in September

    The UK Debt Management Office (DMO) is keeping its options open on a planned syndication for September, as Gilt yields fell following polls showing the opposition Labour Party was gaining ground on the ruling Conservatives ahead of next week’s UK general election.

    • 01 Jun 2017
  • UK hints at September plans as French agency prepares sterling comeback

    The UK Debt Management Office is keeping its options open on a planned syndication for September, a deal some investors feel the sovereign should use to push its conventional curve out to 2072. Meanwhile, a French agency is bringing its first syndication in sterling for over two years.

    • 31 May 2017
  • Investors and GEMMs tout Gilt curve extension

    Investors have called on the UK Debt Management Office to extend its conventional curve with a syndication in September — although the view is far from unanimous.

    • 25 May 2017
  • Desperately seeking subsidy

    Balancing public money with private profit can be a challenge, and Brexit makes it doubly difficult. The European Investment Bank is set to become something of a football in negotiations between the UK and the EU27 — and the UK’s corporates could stand to lose out. What, if anything, should replace it?

    • 23 May 2017

Dealer League Table UK

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jul 2017
1 Citi 3,284.17 3 6.52%
2 Barclays 3,009.17 2 5.98%
3 JPMorgan 2,784.29 2 5.53%
4 Bank of America Merrill Lynch 2,141.34 2 4.25%
5 Goldman Sachs 1,930.96 2 3.84%

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
  • 18 Jul 2017
1 Citi 64,707.03 216 7.61%
2 JPMorgan 64,103.16 349 7.54%
3 HSBC 54,776.10 208 6.44%
4 Barclays 49,173.78 145 5.78%
5 Deutsche Bank 45,614.64 170 5.37%