Bpifrance suffers ‘tough’ trade

Bpifrance on Wednesday became the second euro borrower to fail this week to reach full subscription, selling a €500m deal from a book of around €425m.

  • By Lewis McLellan
  • 22 Nov 2017

Leads BNP Paribas, Crédit Agricole, Deutsche Bank, HSBC and Morgan Stanley set the spread at 19bp over the OAT curve interpolated between the 1.75% May 2023 and 2.25% May 2024 lines.

“It was a tough trade,” said a banker at one of the ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 10,381.54 13 11.10%
2 JPMorgan 10,114.01 13 10.81%
3 Citi 9,037.14 14 9.66%
4 HSBC 7,587.14 11 8.11%
5 NatWest Markets 6,826.39 6 7.30%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 26,051.28 56 12.87%
2 HSBC 19,540.53 40 9.65%
3 JPMorgan 16,456.57 36 8.13%
4 Deutsche Bank 15,761.17 21 7.79%
5 Bank of America Merrill Lynch 14,692.17 42 7.26%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 20,357.89 34 8.99%
2 Barclays 18,911.32 28 8.35%
3 HSBC 16,371.81 48 7.23%
4 BNP Paribas 14,874.19 26 6.56%
5 NatWest Markets 13,451.59 14 5.94%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 44,908.18 139 7.97%
2 JPMorgan 43,790.91 192 7.77%
3 HSBC 41,027.11 135 7.28%
4 Barclays 33,170.15 96 5.89%
5 Deutsche Bank 30,222.31 83 5.36%