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 Barclays 12,417.34 15 11.10%
2 JPMorgan 10,784.81 16 9.64%
3 Citi 9,836.54 17 8.80%
4 NatWest Markets 8,487.83 7 7.59%
5 HSBC 7,788.95 12 6.97%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 28,650.01 73 12.44%
2 HSBC 22,084.84 47 9.59%
3 JPMorgan 18,953.14 49 8.23%
4 Deutsche Bank 17,915.81 27 7.78%
5 Bank of America Merrill Lynch 16,436.98 51 7.14%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 23,958.28 49 8.62%
2 Barclays 21,482.86 36 7.73%
3 Credit Agricole CIB 18,862.23 49 6.79%
4 UniCredit 18,150.64 48 6.53%
5 HSBC 18,112.51 64 6.52%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 50,878.64 251 7.26%
2 Citi 50,509.60 178 7.21%
3 HSBC 46,065.52 168 6.57%
4 Barclays 40,928.81 133 5.84%
5 Deutsche Bank 37,881.53 100 5.40%