Latest Sub-sovereigns news

  • Spain’s regions seek reform, market access

    Talks are set to begin in Spain to reform the financing mechanism for the country’s regions, which could lead some to their return to the primary bond market for the first time in years. But as with seemingly everything in bonds this year, politics could yet scupper the efforts, write Craig McGlashan and Victor Jimenez.

    • 20 Apr 2017
  • Anti-EU French president would ‘bring misery to southern Europe’ says funding official

    A funding official for a southern European sub-sovereign borrower has warned that a victory for an anti-European Union candidate in the upcoming French presidential election could “bring misery to southern Europe as never seen after the Second World War”.

    • 20 Apr 2017
  • Russians keep EM bonds going amid political noise

    Political power plays in Turkey and the UK have done little to derail EM bond markets this week, but the pipeline is thinner than before Easter, and limited to Russian borrowers.

    • 19 Apr 2017
  • Trio nip into Swiss market with Easter offerings

    Swiss Prime Site, LGT Bank and the City of Zurich took advantage of a quiet market, placing Swiss franc bonds with domestic investors before Easter holidays.

    • 12 Apr 2017
  • City of Zurich breaks municipal silence in Swiss market

    Order books were open for all of 10 minutes as the City of Zurich benefited from a scarcity of municipal activity to find Sfr100m ($99.5m) in a 20 year no-grow deal.

    • 12 Apr 2017
  • New names flourish as SRI market rapidly diversifies

    The palette of socially responsible investment bonds is expanding. Two borrowers made SRI debuts this week with a social inclusion bond and a sustainability bond, while a third has announced its intention to follow suit.

    • 06 Apr 2017
  • Red hot dollar market snaps up SSAs

    The dollar market was on spectacular form on Wednesday, with a Canadian province pushing out a rare 10 year bond, a supranational smashing its size record and a $4bn five year from a German agency.

    • 05 Apr 2017
  • SSAs cram into Wednesday window

    Public sector borrowers are lining up a three pronged attack on Wednesday in a dollar market that is enjoying its widest swap spreads of the year. Quebec is attempting the first 10 year dollar benchmark since the first week of the year, KfW is out in fives — a part of the curve that has also become attractive in euros — and the Inter-American Development Bank is coming at the short end.

    • 04 Apr 2017
  • Madrid and CEB land in blooming SRI market

    A pair of European borrowers debuted socially responsible investment bonds on Monday, raising a combined €1.2bn, with one able to tighten its price by several basis points.

    • 03 Apr 2017
  • Madrid and CEB lining up for SRI

    A flurry of activity in the market for socially responsible investments shows no sign of letting up, with two borrowers set to make their debut next week and two more waiting in the wings.

    • 30 Mar 2017

Sub-sovereigns news archive

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 18 Apr 2017
1 Barclays 8,822.61 13
2 Citi 7,368.99 9
3 BNP Paribas 7,280.82 10
4 HSBC 6,965.75 11
5 JPMorgan 6,400.12 9

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 10 Apr 2017
1 JPMorgan 22,242.25 55 12.48%
2 Citi 19,481.25 49 10.93%
3 Deutsche Bank 14,012.00 31 7.86%
4 HSBC 13,736.18 31 7.71%
5 Barclays 12,029.58 28 6.75%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Apr 2017
1 Barclays 19,895.10 43 9.86%
2 JPMorgan 16,100.70 41 7.98%
3 Bank of America Merrill Lynch 14,715.49 37 7.29%
4 Credit Agricole CIB 13,312.37 36 6.60%
5 HSBC 12,937.56 41 6.41%

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%