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 Barclays 12,042.98 14 11.09%
2 JPMorgan 10,337.24 14 9.52%
3 Citi 9,260.37 15 8.53%
4 NatWest Markets 8,487.83 7 7.82%
5 HSBC 7,587.14 11 6.99%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 27,251.43 66 12.49%
2 HSBC 20,140.01 43 9.23%
3 JPMorgan 18,703.30 46 8.57%
4 Deutsche Bank 17,160.97 23 7.87%
5 Bank of America Merrill Lynch 15,557.62 48 7.13%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 22,577.73 42 8.83%
2 Barclays 20,703.19 33 8.10%
3 UniCredit 16,899.52 41 6.61%
4 HSBC 16,717.03 54 6.54%
5 BNP Paribas 16,072.48 29 6.29%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 48,779.09 221 7.54%
2 Citi 48,311.77 163 7.47%
3 HSBC 42,458.91 147 6.57%
4 Barclays 38,146.39 117 5.90%
5 Deutsche Bank 34,770.24 92 5.38%