EIB aids bond ‘shortage’ in zloty with tap

The European Investment Bank has tapped its August 2026 Polish zloty line for Z500m ($138.7m), taking the total outstanding to Z2.5bn. The trade forms part of EIB’s strategy to increase funding in Polish zloty, in which the issuer has three lines approaching benchmark size amid a perceived structural shortage in the currency.

  • By William Chambers
  • 16 Nov 2017

The tap was priced on Wednesday through ING and TD Securities at mid-swaps plus 48bp, which equates to 2.8bp over the 2027 Polish government bonds. The bond carries a coupon of 2.75%.

The Polish government’s Z1.5bn July 2027 switch option last week left a gap in the market, and ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 4,822.01 5 13.56%
2 NatWest Markets 3,741.73 3 10.52%
3 Citi 3,544.03 6 9.97%
4 Goldman Sachs 3,231.80 5 9.09%
5 Barclays 2,461.72 2 6.92%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 8,145.87 7 13.07%
2 Citi 7,659.35 12 12.29%
3 Deutsche Bank 7,559.81 8 12.13%
4 Goldman Sachs 6,147.24 8 9.86%
5 JPMorgan 6,097.01 8 9.78%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 7,351.66 8 10.92%
2 JPMorgan 6,925.07 9 10.28%
3 Credit Agricole CIB 6,342.60 7 9.42%
4 Goldman Sachs 5,890.15 6 8.75%
5 Citi 5,011.57 14 7.44%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 18,120.72 41 10.07%
2 JPMorgan 15,284.47 47 8.49%
3 HSBC 13,506.20 23 7.50%
4 Barclays 12,988.29 17 7.22%
5 Goldman Sachs 12,082.56 15 6.71%