KfW lands short dated euros; EU lining up at long end

The European Union (EU) is set to tap an April 2031 line on Wednesday, coming on the heels of KfW five year benchmark on Tuesday, that raised €3bn.

  • By Lewis McLellan
  • 17 Oct 2017

The EU has picked Barclays, HSBC and UniCredit to run the books for a €300m no grow tap of its 0.75% April 2031 bond. 

The line has €2.86bn outstanding and was last opened for a €600m tap in March.

The supranational will hope to emulate KfW’s success ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 8,631.56 13 12.63%
2 JPMorgan 7,267.09 8 10.64%
3 Barclays 6,912.22 7 10.12%
4 NatWest Markets 5,400.28 4 7.90%
5 HSBC 4,881.02 6 7.14%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 15,651.00 27 14.15%
2 HSBC 11,973.58 17 10.82%
3 JPMorgan 11,557.79 19 10.45%
4 Bank of America Merrill Lynch 9,047.71 21 8.18%
5 Goldman Sachs 8,869.90 16 8.02%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 13,618.01 17 9.87%
2 JPMorgan 11,435.68 20 8.29%
3 Citi 11,339.99 28 8.22%
4 NatWest Markets 9,152.73 8 6.63%
5 Credit Agricole CIB 8,464.56 15 6.13%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 31,306.13 82 9.61%
2 JPMorgan 28,433.28 108 8.73%
3 HSBC 22,935.74 61 7.04%
4 Barclays 20,560.29 40 6.31%
5 Goldman Sachs 17,261.21 27 5.30%