AfDB ‘prices through fair value’ as German Land extends curve

The African Development Bank sold a 10 year benchmark in euros on Thursday that bankers said priced through fair value. Land Schleswig-Holstein was also in the market for the same tenor that extended its curve to 2029.

  • By Burhan Khadbai
  • 14 Mar 2019

AfDB sold a €1bn March 2029 global bond through Bank of America, BNP Paribas, Goldman Sachs and JP Morgan were the bookrunners.

Following the mandate announcement on Wednesday, the leads released initial price thoughts of mid-swaps minus 1bp on Thursday morning.

The leads ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 12,550.11 16 13.17%
2 Citi 8,945.86 13 9.39%
3 HSBC 8,757.05 9 9.19%
4 BNP Paribas 7,456.75 9 7.82%
5 Barclays 7,102.70 8 7.45%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 15,452.65 33 12.37%
2 JPMorgan 13,213.15 27 10.57%
3 Barclays 9,740.96 19 7.79%
4 Deutsche Bank 8,922.05 19 7.14%
5 HSBC 8,299.62 17 6.64%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 21,887.20 35 10.75%
2 Credit Agricole CIB 15,745.14 24 7.73%
3 HSBC 15,725.41 31 7.72%
4 BNP Paribas 14,270.46 23 7.01%
5 Barclays 13,882.61 26 6.82%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 37,805.41 128 8.67%
2 HSBC 30,046.11 89 6.89%
3 Citi 28,948.61 77 6.64%
4 Barclays 28,208.07 79 6.47%
5 Deutsche Bank 21,549.79 54 4.94%