MTN issuers yet to adjust to Italy

MTN borrowers have not yet altered their issuance levels to take account of the violent moves in curves, led by Italy, over the past two weeks — leaving the euro market all but deserted.

  • By Lewis McLellan
  • 31 May 2018

“We’re still only a few days in,” said one MTN banker in London. “We will likely see issuers forced to move their levels if they want to pick up euro funding, but it takes some time to filter through.”

In the meantime, investors are steering clear of the ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 15,293.97 23 10.03%
2 Barclays 15,041.98 19 9.87%
3 Citi 12,831.69 22 8.42%
4 HSBC 11,347.34 16 7.44%
5 BNP Paribas 9,566.00 13 6.27%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 38,208.62 102 12.27%
2 JPMorgan 28,157.22 75 9.04%
3 HSBC 25,995.51 64 8.35%
4 Bank of America Merrill Lynch 25,330.13 73 8.13%
5 Goldman Sachs 21,282.75 49 6.83%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 34,739.07 88 8.48%
2 Barclays 31,192.90 58 7.61%
3 UniCredit 28,799.89 78 7.03%
4 HSBC 28,228.96 102 6.89%
5 BNP Paribas 26,244.99 62 6.41%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 74,936.43 419 7.14%
2 Citi 71,066.92 259 6.78%
3 HSBC 65,203.97 254 6.22%
4 Barclays 57,795.41 214 5.51%
5 Deutsche Bank 47,371.28 150 4.52%