Latest sovereign news

  • Too liquid? Upside tops risk, say Greece’s exchange leads

    A €30bn debt exchange by Greece’s Public Debt Management Agency began on Wednesday and should help the sovereign boost the liquidity in the long end of its curve, said SSA bankers. But some warned that liquidity cuts two ways, meaning the sovereign’s levels could be more sensitive to any bad news that comes its way — although those working on the deal feel the upside far outweighs that risk, writes Craig McGlashan.

    • 16 Nov 2017
  • More banks drop euro primary dealerships

    Several banks have relinquished their roles as primary dealers for sovereigns, according to AFME’s latest handbook.

    • 16 Nov 2017
  • Repo markets hope to trade in on today’s collateral

    Repo traders convened this week in Brussels to rethink how to fix the plumbing of financial markets and mulled using other forms of collateral in the market.

    • 16 Nov 2017
  • Nigeria 30 year is barometer for frontier issues

    Nigeria’s plans to issue the longest ever sub-Saharan African Eurobond outside of South Africa will be a canary in the coal mine for frontier market issuers looking to extend their curves, according to EM analysts. Virginia Furness reports.

    • 16 Nov 2017
  • Croatia lengthens curve with zero NIP 12 year

    Croatia lengthened its euro curve this week with a €1.275bn long 12 year bond, drawing in a book of more than €3bn for the deal.

    • 16 Nov 2017
  • Qatar prepared to pay ‘over the odds’ for $9 billion jumbo

    Qatar is preparing a non-deal roadshow at the start of December, according to two sources with knowledge of the state’s plans, with a $9bn bond in the offing.

    • 16 Nov 2017
  • Croatia order book over €3bn

    Croatia has tightened price guidance for its long 12 year bond and has an order book of over €3bn for the deal, which could be up to €1.275bn.

    • 16 Nov 2017
  • Greece looks for liquidity with debt exchange

    Greece has fired the starting gun on its latest debt rehabilitation effort, after launching a roughly €30bn exchange offer for 20 bonds it issued as part of its restructuring in 2012.

    • 15 Nov 2017
  • Nigeria 'faces challenge' with 30 year bond

    Nigeria is set to test investors next week with the equal longest sub-Saharan African Eurobond after receiving approval to issue up to $5.5bn in its budget for 2018 on Tuesday.

    • 15 Nov 2017
  • Nigeria brings real test as Vene saga develops

    Despite the end of the year fast approaching, and Venezuela’s debt saga challenging buy-side patience, investors have at least one more major test with Nigeria marketing the first sub-Saharan African 30 year sovereign bond away from South Africa.

    • 15 Nov 2017

Sovereign news archive

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 18,481.15 26 8.95%
2 HSBC 16,094.53 24 7.80%
3 BNP Paribas 15,919.65 22 7.71%
4 Barclays 15,034.43 23 7.28%
5 Goldman Sachs 14,733.99 25 7.14%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 53,381.13 125 12.09%
2 Citi 49,764.15 128 11.27%
3 HSBC 34,695.08 84 7.86%
4 Bank of America Merrill Lynch 33,616.38 101 7.61%
5 Deutsche Bank 29,250.35 70 6.62%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 33,639.57 107 7.23%
2 UniCredit 32,850.81 112 7.06%
3 Barclays 31,876.57 76 6.85%
4 Goldman Sachs 31,731.55 86 6.82%
5 BNP Paribas 31,052.89 65 6.68%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 93,202.80 530 7.40%
2 Citi 91,849.49 314 7.29%
3 HSBC 79,596.61 281 6.32%
4 Bank of America Merrill Lynch 65,275.79 207 5.18%
5 Barclays 65,250.47 203 5.18%