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 16,032.07 25 9.75%
2 Barclays 15,041.98 19 9.15%
3 Citi 13,795.56 24 8.39%
4 HSBC 12,009.31 18 7.30%
5 BNP Paribas 10,802.75 16 6.57%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 41,726.66 111 12.22%
2 JPMorgan 29,288.84 79 8.57%
3 HSBC 29,000.04 74 8.49%
4 Bank of America Merrill Lynch 27,450.34 80 8.04%
5 Goldman Sachs 24,685.10 55 7.23%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 35,645.82 96 8.02%
2 HSBC 32,437.47 116 7.30%
3 Barclays 31,737.51 60 7.14%
4 UniCredit 30,989.16 83 6.97%
5 BNP Paribas 27,189.65 67 6.11%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 77,915.32 278 6.83%
2 JPMorgan 77,428.97 443 6.78%
3 HSBC 73,010.93 287 6.40%
4 Barclays 59,775.59 229 5.24%
5 Deutsche Bank 52,560.34 166 4.60%