BondMarker: Alberta outdoes EIB in dollar fives battle

The Province of Alberta pipped the European Investment Bank to the top score of the week in BondMarker, with both issuers printing five year dollar globals.

  • By Craig McGlashan
  • 06 Nov 2018
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Alberta’s $2.25bn deal, along with EIB’s $3bn trade the only deals to be scored in the week commencing October 22, took an overall average of 7.93. Its best category was quality of investor distribution, which took 8.13.

EIB scored an overall average of 6.90, with the deal let down on timing and structure/maturity, both on 6.67. On-looking bankers at the time said they were surprised EIB had opted for a five year trade.

One banker at the time said he thought EIB should have been able to price at 5bp rather than 6bp over mid-swaps, but BondMarker voters seemed to disagree, giving the trade a 7.00 for pricing.

Last week’s deals — EAA’s $1bn three year, Hamburg’s €1.25bn 20 year, KfW’s €5bn five year, OeKB’s $1bn five year and SEK’s $1bn three year — are available for scoring until Thursday this week.


181106 ssa bondmarker scores

  • By Craig McGlashan
  • 06 Nov 2018

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,683.39 29 11.21%
2 Citi 13,595.38 21 8.62%
3 HSBC 12,224.45 15 7.75%
4 Goldman Sachs 11,679.39 21 7.41%
5 BNP Paribas 11,306.61 19 7.17%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 27,620.00 66 12.00%
2 JPMorgan 25,706.32 67 11.17%
3 HSBC 15,299.95 41 6.65%
4 Barclays 15,140.22 37 6.58%
5 Bank of America Merrill Lynch 13,259.81 55 5.76%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 34,469.79 79 9.58%
2 BNP Paribas 24,586.19 58 6.83%
3 Goldman Sachs 23,272.62 49 6.47%
4 UniCredit 22,895.15 64 6.36%
5 Credit Agricole CIB 22,678.60 55 6.30%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 68,686.80 320 8.07%
2 Citi 54,099.33 163 6.35%
3 HSBC 50,127.85 203 5.89%
4 Barclays 42,717.44 159 5.02%
5 Goldman Sachs 36,754.99 106 4.32%