AfDB and AFD hit off-key note in SSA deal spree

Sovereign, supranational and agency issuers rushed to get deals done in the short window after last week’s Federal Reserve Open Markets Committee meeting and the German election at the weekend and ahead of holidays in Asia next week. Most dollar issuers got deals away without a hitch, but a five year for African Development Bank (AfDB) fell shy of full of subscription while a three year from Agence Française de Developpement (AFD) got over the line, but at a wider level than the initial price thoughts.

  • By Tessa Wilkie
  • 27 Sep 2013

Citi, Goldman Sachs, HSBC and TD Securities priced a no-grow $1bn 1.625% October 2018 deal for AfDB at 6bp over mid-swaps on Wednesday, in line with guidance and initial price thoughts of 6bp area.

The deal struggled, failing to achieve full subscription. Leads declined to disclose the ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 15,293.97 23 10.03%
2 Barclays 15,041.98 19 9.87%
3 Citi 12,831.69 22 8.42%
4 HSBC 11,347.34 16 7.44%
5 BNP Paribas 9,566.00 13 6.27%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 37,110.25 100 12.05%
2 JPMorgan 27,982.56 72 9.08%
3 HSBC 25,995.51 64 8.44%
4 Bank of America Merrill Lynch 24,331.42 72 7.90%
5 Goldman Sachs 21,282.75 49 6.91%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 34,727.52 87 8.50%
2 Barclays 31,192.90 58 7.63%
3 UniCredit 28,627.02 77 7.01%
4 HSBC 28,056.09 101 6.87%
5 BNP Paribas 26,072.11 61 6.38%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 74,667.67 407 7.17%
2 Citi 69,968.55 257 6.72%
3 HSBC 65,031.10 253 6.25%
4 Barclays 56,794.13 212 5.46%
5 Deutsche Bank 47,371.28 150 4.55%