Brandenburg comfortably over the line for 20 year return

The Federal State of Brandenburg was oversubscribed for its second ever euro benchmark in the 20 year part of the curve on Tuesday. The deal offered a 2bp concession, according to the leads.

  • By Burhan Khadbai
  • 20 Nov 2018

Leads DekaBank, HSBC, LBBW, NordLB and TD Securities priced a €500m November 2038 for Brandenburg with a yield of 1.478%.

Following the mandate announcement on Monday, the leads opened books on Tuesday with guidance of mid-swaps plus 4bp area, before setting the spread shortly after at ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 9,951.14 12 13.89%
2 Citi 7,280.23 9 10.16%
3 HSBC 5,813.76 5 8.12%
4 BNP Paribas 5,802.58 8 8.10%
5 Barclays 5,746.99 7 8.02%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 9,140.46 20 12.14%
2 JPMorgan 8,485.94 17 11.27%
3 Barclays 7,215.80 13 9.59%
4 Bank of America Merrill Lynch 5,863.94 19 7.79%
5 HSBC 5,764.61 9 7.66%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 15,490.59 23 10.81%
2 Credit Agricole CIB 13,234.00 19 9.24%
3 HSBC 11,041.26 21 7.70%
4 Goldman Sachs 10,202.29 12 7.12%
5 Barclays 10,190.11 13 7.11%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 25,056.38 73 8.77%
2 Barclays 21,533.79 49 7.54%
3 HSBC 20,609.20 56 7.21%
4 Citi 19,220.14 43 6.73%
5 Bank of America Merrill Lynch 16,931.81 46 5.92%