SSA trio tap hot Swedish krona mart

Demand for SRI bonds and favourable basis swaps are boosting the Swedish krona market for SSAs, despite concerns late last year that the Swedish central bank’s tightening monetary policy and the krona’s appreciation against the dollar could stifle issuance. The European Investment Bank, Nordic Investment Bank and African Development Bank all came at the long end of the krona curve this week.

  • By William Chambers
  • 25 Jan 2018

“Swedish krona is very attractive for Japanese investors due to the low hedging costs of swapping back the currency to yen, when compared with other currencies such as the Australian or US dollar,” said a representative from AfDB.

AfDB sold a Skr140m ($17.4m) tap of its September 2027 ...

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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 13.11%
2 JPMorgan 5,515.04 10 12.99%
3 Barclays 5,057.18 6 11.91%
4 HSBC 4,927.86 6 11.61%
5 BNP Paribas 3,164.15 4 7.45%

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%