April MTN volume drops off cliff after strong start to the year

The first quarter of 2018 was the strongest for MTN issuance across all sectors in three years, but the non-consolidated data for April looks disappointing so far.

  • By Lewis McLellan
  • 03 May 2018
Issuance in the MTN format slumped drastically in April, falling by about a third both compared with March and compared with April 2017. April’s €16.7bn of MTNs marked an almost €8bn drop from March — the steepest single month drop since April 2015, when €14.9bn was sold (down ...

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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 13.04%
2 JPMorgan 5,515.04 10 12.92%
3 Barclays 5,057.18 6 11.85%
4 HSBC 4,927.86 6 11.54%
5 BNP Paribas 3,164.15 4 7.41%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8,601.89 11 12.72%
2 UniCredit 7,740.97 11 11.45%
3 HSBC 5,618.01 6 8.31%
4 BNP Paribas 5,054.90 8 7.48%
5 Bank of America Merrill Lynch 4,801.82 6 7.10%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 16,680.21 34 11.16%
2 HSBC 14,355.30 24 9.60%
3 Citi 14,176.87 27 9.48%
4 Barclays 11,897.30 23 7.96%
5 Bank of America Merrill Lynch 9,058.75 20 6.06%