Luxembourg lurks as Bernanke QE call puts SSA market on hold

Luxembourg looks set to defy consensus and bring a new bond issue next week. Other SSA borrowers are understandably reluctant to do so, with uncertainty set to grip the market at least until Wednesday’s Federal Open Market Committee meeting.

  • By Ralph Sinclair
  • 13 Jun 2013

Luxembourg will meet investors in London on Monday and the outcome of those and other meetings will decide the sovereign’s choice of maturity, although it is said to favour a 10 year euro deal.

Other issuers look set to wait for Federal Reserve chairman Ben Bernanke’s comments to ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 14,544.75 18 10.40%
2 JPMorgan 13,122.11 20 9.38%
3 Citi 12,168.30 20 8.70%
4 HSBC 10,850.10 15 7.76%
5 NatWest Markets 9,080.61 8 6.49%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 34,822.11 93 12.31%
2 JPMorgan 25,979.10 64 9.18%
3 HSBC 24,143.03 57 8.53%
4 Bank of America Merrill Lynch 21,891.68 65 7.74%
5 Deutsche Bank 19,993.80 31 7.07%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 33,318.06 81 8.66%
2 Barclays 29,485.51 52 7.66%
3 HSBC 26,536.90 91 6.90%
4 UniCredit 26,134.28 69 6.79%
5 BNP Paribas 24,736.61 55 6.43%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 68,817.31 384 7.19%
2 Citi 65,940.01 242 6.89%
3 HSBC 60,682.21 228 6.34%
4 Barclays 53,941.18 193 5.63%
5 Deutsche Bank 45,779.29 142 4.78%