KfW pulls in biggest ever book

The euro market is providing borrowers with superb execution — KfW gathered its largest ever book for a 10 year on Tuesday — but investors are requiring healthy new issue concessions in order to commit.

  • By Lewis McLellan
  • 09 Jan 2018

The European Financial Stability Facility has announced that its first deal of the year will be a seven year euro benchmark. Barclays, Crédit Agricole and UniCredit will run the books. The market certainly appears hospitable, if Tuesday’s trades are any indication.

"We’d expect EFSF to print ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 4,065.52 3 14.97%
2 Citi 3,902.17 4 14.37%
3 HSBC 3,735.13 3 13.76%
4 BNP Paribas 3,073.09 4 11.32%
5 Barclays 2,241.64 2 8.26%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 5,565.84 10 13.14%
2 JPMorgan 5,515.04 10 13.02%
3 Barclays 5,057.18 6 11.94%
4 HSBC 4,927.86 6 11.63%
5 BNP Paribas 3,164.15 4 7.47%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8,508.82 10 12.64%
2 UniCredit 7,740.97 11 11.50%
3 HSBC 5,618.01 6 8.34%
4 BNP Paribas 5,054.90 8 7.51%
5 Bank of America Merrill Lynch 4,801.82 6 7.13%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 14,694.12 32 11.13%
2 HSBC 12,161.91 22 9.21%
3 Citi 11,855.99 25 8.98%
4 Barclays 11,221.92 21 8.50%
5 Bank of America Merrill Lynch 8,683.75 19 6.58%