EFSF canters to 2018 finish as euro market ‘tires’

The European Financial Stability Facility wrapped up its funding year by raising €4bn on Tuesday, tightening its pricing from guidance in the process. But despite the deal’s success, there are signs that the strength of the euro market is starting to wane into year-end.

  • By Craig McGlashan
  • 06 Nov 2018
Leads Deutsche Bank, Morgan Stanley and Société Générale priced the January 2024 at 13bp through mid-swaps. Tuesday morning’s guidance of minus 12bp area drew sufficient orders to cover the €4bn EFSF had left to fund this year, allowing the spread to be set a basis ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 14,855.48 22 11.53%
2 HSBC 11,564.92 14 8.97%
3 Citi 11,516.11 17 8.94%
4 BNP Paribas 9,658.90 15 7.50%
5 SG Corporate & Investment Banking 9,565.12 12 7.42%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 22,825.14 52 12.69%
2 JPMorgan 19,716.36 48 10.96%
3 Barclays 12,625.49 27 7.02%
4 HSBC 11,868.27 28 6.60%
5 Deutsche Bank 11,082.27 24 6.16%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 30,754.04 60 10.11%
2 HSBC 21,914.95 64 7.20%
3 Credit Agricole CIB 21,079.26 45 6.93%
4 BNP Paribas 20,894.22 43 6.87%
5 Goldman Sachs 18,777.54 34 6.17%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 55,898.32 241 8.17%
2 HSBC 44,170.70 155 6.46%
3 Citi 43,504.97 122 6.36%
4 Barclays 36,671.77 126 5.36%
5 Deutsche Bank 29,979.56 91 4.38%