Dollar push-back but bankers relaxed

Public sector borrowers rushed into what is likely to be the last window for dollar issuance for a few weeks, removing some of the price tension they had enjoyed in what had been an undersupplied currency so far this year. That meant pricing correctly involved fine margins — although most deals made it through happily.

  • By Craig McGlashan
  • 20 Sep 2018

With a Federal Open Market Committee meeting next week then US and Chinese holidays the weeks after that, SSA bankers were confident that a little bit of a wobble in the middle of this week would be fully ironed out by the time supply returns.

“You’d expect it ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 11,313.87 13 14.29%
2 Citi 7,613.24 10 9.61%
3 HSBC 7,509.50 7 9.48%
4 BNP Paribas 7,165.31 9 9.05%
5 Credit Agricole CIB 6,754.94 7 8.53%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 12,172.38 24 14.18%
2 JPMorgan 9,485.94 18 11.05%
3 Barclays 7,464.36 14 8.69%
4 HSBC 6,884.61 11 8.02%
5 Bank of America Merrill Lynch 5,863.94 19 6.83%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,561.05 26 11.23%
2 Credit Agricole CIB 14,775.81 20 9.45%
3 HSBC 13,041.21 24 8.34%
4 SG Corporate & Investment Banking 10,788.22 13 6.90%
5 Barclays 10,649.23 15 6.81%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 28,944.56 81 9.18%
2 HSBC 23,995.87 61 7.61%
3 Citi 22,976.92 49 7.29%
4 Barclays 22,394.11 54 7.10%
5 Bank of America Merrill Lynch 17,341.69 48 5.50%