Investors ‘cautious’ as SRIs underwhelm

A pair of socially responsible deals from public sector borrowers failed to set the market alight this week. The order books were only marginally oversubscribed and the spreads did not tighten from the initial price thoughts.

  • By Burhan Khadbai
  • 29 Nov 2018

The African Development Bank and Nederlandse Watershapsbank both sold no-grow $500m bonds on Tuesday, with AfDB opting for a three year green bond and NWB choosing a four year water bond.

NWB priced its bond with a spread of mid-swaps plus 12bp and a final order book of ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 15,102.75 23 11.63%
2 Citi 11,763.38 18 9.06%
3 HSBC 11,564.92 14 8.91%
4 BNP Paribas 9,906.17 16 7.63%
5 SG Corporate & Investment Banking 9,565.12 12 7.37%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 23,461.64 54 12.64%
2 JPMorgan 20,571.04 52 11.08%
3 HSBC 12,824.99 32 6.91%
4 Barclays 12,625.49 27 6.80%
5 Bank of America Merrill Lynch 11,089.04 44 5.97%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 31,436.76 66 10.17%
2 BNP Paribas 22,100.37 48 7.15%
3 HSBC 21,914.95 64 7.09%
4 Credit Agricole CIB 21,079.26 45 6.82%
5 Goldman Sachs 18,835.39 35 6.10%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 57,633.58 256 8.22%
2 HSBC 45,596.34 163 6.50%
3 Citi 44,545.75 126 6.35%
4 Barclays 36,783.87 127 5.24%
5 BNP Paribas 31,141.90 110 4.44%