France in the news

  • SSAs pile into bond market to fight Covid-19

    Public sector borrowers returned en masse to the primary bond market this week, with many selling new issues with an explicit focus on providing emergency financing in response to the coronavirus outbreak.

    • 26 Mar 2020
  • SSAs pull in €11.5bn across euro curve

    The SSA market appears to be well and truly up and running, with four SSA borrowers hitting screens for new bonds in euros on Thursday, pulling in an impressive €11.5bn with deals from three to 30 years

    • 26 Mar 2020
  • Unédic’s funding needs to rise by ‘at least a few billion’

    Unédic, the French unemployment agency, will have a substantially bigger funding programme for 2020 in response to the coronavirus pandemic, according to its chief financial officer, Jun Dumolard.

    • 26 Mar 2020
  • CDC leaning on non-core markets for 2020

    Caisse des Dépôts et Consignations plans to proceed with funding outside of its core currencies of euros and dollars in the coming months, in spite of the volatility.

    • 16 Mar 2020
  • Funding scorecard: French agencies

    This week's funding scorecard looks at the progress French agencies have made in their funding programmes by mid-March.

    • 13 Mar 2020
  • Unédic EUR1.25bn 0% Mar 30

    • 27 Feb 2020
  • Unédic benefits from relative value and strength of name

    Unédic was almost three times covered for a 10 year bond on Thursday, with the leads pointing to the relative value of the trade and the quality of name as the factors behind its success against a difficult market backdrop.

    • 27 Feb 2020
  • SNCF and Kommuninvest go head to head in green

    A pair of SSA borrowers hit screens on Wednesday for green euro benchmarks. However, one has decided that its marketing process will be entirely conducted over the phone.

    • 19 Feb 2020
  • SSA secondary pricing update: SGP 50 year green tightens 4bp

    Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, February 17. The source for secondary trading levels is ICE Data Services.

    • 18 Feb 2020
  • AFD EUR1bn 0% Mar 25

    • 14 Feb 2020
  • SGP EUR2.5bn 1% Feb 70

    • 13 Feb 2020
  • Hot demand for short and long in euros

    Borrowers hit screens in euros from three to 50 years this week, all enjoying heavily subscribed books and pricing with skinny new issue premiums thanks to investors’ confidence in consistent support from the European Central Bank.

    • 13 Feb 2020
  • SGP locks in ‘strategic’ 50 year green as SSAs pile into SRI

    Société du Grand Paris hoovered up strong demand this week to sell the longest ever public syndicated green bond. The French agency was joined by three other public sector borrowers in raising socially responsible bonds this week, including the first European city to issue a social-labelled bond.

    • 13 Feb 2020
  • AFD aiming for social bonds

    Agence Française de Développement is looking to expand its thematic bond framework to include the issuance of social-labelled debt.

    • 12 Feb 2020
  • SGP takes size with 50 year green as Munich brings city first

    Société du Grand Paris impressed the SSA market on Tuesday with a series of superlatives. It sold its biggest ever bond with the longest ever maturity for a syndicated green bond in any asset class. The City of Munich hit another landmark with the first social bond from a European city.

    • 11 Feb 2020

Dealer League Table France

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 1.11 1 20.00%
1 HSBC 1.11 1 20.00%
1 Goldman Sachs 1.11 1 20.00%
1 Credit Agricole CIB 1.11 1 20.00%
1 BNP Paribas 1.11 1 20.00%

European Sovereign Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13.99 19 12.94%
2 BofA Securities 8.12 30 7.52%
3 SG Corporate & Investment Banking 7.84 8 7.25%
4 Citi 7.75 10 7.17%
5 Goldman Sachs 7.52 12 6.96%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 13.52 26 12.74%
2 JPMorgan 9.96 18 9.38%
3 BofA Securities 7.57 23 7.13%
4 TD Securities Inc 7.45 16 7.03%
5 BMO Capital Markets 7.21 14 6.79%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 23.92 38 11.01%
2 UniCredit 17.54 37 8.08%
3 HSBC 16.71 44 7.70%
4 BofA Securities 15.01 44 6.91%
5 BNP Paribas 13.24 25 6.09%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 37.69 106 9.05%
2 HSBC 27.79 88 6.67%
3 Citi 26.12 62 6.27%
4 BofA Securities 24.93 84 5.99%
5 Goldman Sachs 21.27 42 5.11%