Ireland eyes debut benchmark linker, Portugal set for Panda launch

Ireland is looking at the possibility of issuing its first ever benchmark inflation linked bond in 2019, amid an expected surge in the euro public sector linker market this year. Meanwhile, Portugal is waiting for the final approval of its inaugural Panda bond, which will be sold as part of an Rmb6bn three year programme.

  • By Burhan Khadbai
  • 10 Jan 2019
“There could be opportunities for further diversification of our issuance,” said Frank O’Connor, director of funding and debt management at Ireland’s National Treasury Management Agency. "This could mean that we issue a benchmark inflation linker, either in 2019 or next year. We don’t have a big inflation curve ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
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  • Today
1 BNP Paribas 3,073.09 4 17.88%
2 JPMorgan 2,073.34 2 12.06%
3 Citi 1,909.99 3 11.11%
4 HSBC 1,742.95 2 10.14%
5 Natixis 1,493.49 1 8.69%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 3,792.03 6 18.05%
2 HSBC 3,617.55 3 17.22%
3 Citi 2,909.53 6 13.85%
4 BNP Paribas 2,665.27 3 12.69%
5 Barclays 2,134.63 2 10.16%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 4,603.00 6 11.00%
2 JPMorgan 4,227.97 7 10.11%
3 HSBC 3,270.10 4 7.82%
4 Bank of America Merrill Lynch 3,252.97 4 7.78%
5 SG Corporate & Investment Banking 3,009.71 3 7.19%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 8,650.54 23 11.07%
2 HSBC 8,196.10 15 10.49%
3 BNP Paribas 7,326.15 11 9.37%
4 Citi 6,914.94 20 8.85%
5 Barclays 5,282.37 14 6.76%