Italy’s CDP sails through benchmark return

The eurozone periphery passed the first real test of the robustness of its recovery with top marks this week, after an Italian public sector issuer brought a successful benchmark despite market volatility meaning the deal came a day later than expected. The fact that Cassa Depositi e Prestiti (CDP) was able to avoid a longer postponement on its plans to sell a first benchmark since 2011 is testament to the strength of demand for issuers in the region.

  • By Tessa Wilkie
  • 07 Feb 2014
CDP brought the deal on Wednesday — a day after it was expected — as peripheral bond markets bounced back from a poor open on Tuesday. The Spanish sovereign also benefitted from the improved conditions, cutting its funding costs at an auction of three to five year debt ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 10,381.54 13 11.10%
2 JPMorgan 10,114.01 13 10.81%
3 Citi 9,037.14 14 9.66%
4 HSBC 7,587.14 11 8.11%
5 NatWest Markets 6,826.39 6 7.30%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 26,051.28 56 12.96%
2 HSBC 19,540.53 40 9.72%
3 JPMorgan 16,456.57 36 8.19%
4 Deutsche Bank 15,761.17 21 7.84%
5 Bank of America Merrill Lynch 14,209.83 40 7.07%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 20,357.89 34 9.09%
2 Barclays 18,911.32 28 8.44%
3 HSBC 15,789.88 47 7.05%
4 BNP Paribas 14,874.19 26 6.64%
5 NatWest Markets 13,451.59 14 6.00%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 44,908.18 139 8.05%
2 JPMorgan 43,790.91 192 7.85%
3 HSBC 40,385.85 133 7.24%
4 Barclays 32,837.80 95 5.88%
5 Deutsche Bank 30,222.31 83 5.42%