EFSF looks long despite euro investor focus on shorter tenors

The European Financial Stability Facility has opted to add liquidity to the long end of its curve during its funding window this week, hiring banks on Monday to reopen one of its longest dated issues.

  • By Craig McGlashan
  • 23 Apr 2018
HSBC, LBBW and Morgan Stanley will run a tap of the EFSF’s €3bn May 2047s on Tuesday. Bankers last week suggested that the issuer may be tempted to look to the very long end of the curve — even though most euro demand is at ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 12,042.98 14 11.16%
2 JPMorgan 10,114.01 13 9.37%
3 Citi 9,037.14 14 8.37%
4 NatWest Markets 8,487.83 7 7.87%
5 HSBC 7,587.14 11 7.03%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 26,776.92 63 12.44%
2 HSBC 20,140.01 43 9.35%
3 JPMorgan 18,140.98 43 8.43%
4 Deutsche Bank 17,160.97 23 7.97%
5 Bank of America Merrill Lynch 15,542.62 47 7.22%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 21,242.89 39 8.52%
2 Barclays 19,533.57 31 7.83%
3 UniCredit 16,899.52 41 6.78%
4 HSBC 16,516.41 51 6.62%
5 BNP Paribas 15,780.06 28 6.33%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 47,163.88 157 7.42%
2 JPMorgan 46,881.95 215 7.38%
3 HSBC 42,258.29 144 6.65%
4 Barclays 36,659.08 110 5.77%
5 Deutsche Bank 34,477.82 91 5.43%