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 JPMorgan 16,032.07 25 9.75%
2 Barclays 15,041.98 19 9.15%
3 Citi 13,795.56 24 8.39%
4 HSBC 12,009.31 18 7.30%
5 BNP Paribas 10,802.75 16 6.57%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 41,726.66 111 12.22%
2 JPMorgan 29,288.84 79 8.58%
3 HSBC 29,000.04 74 8.49%
4 Bank of America Merrill Lynch 27,450.34 80 8.04%
5 Goldman Sachs 24,685.10 55 7.23%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 35,503.26 95 8.01%
2 HSBC 32,082.06 114 7.24%
3 Barclays 31,737.51 60 7.16%
4 UniCredit 30,989.16 83 6.99%
5 BNP Paribas 27,189.65 67 6.13%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 77,915.32 278 6.84%
2 JPMorgan 77,286.41 442 6.79%
3 HSBC 72,655.52 285 6.38%
4 Barclays 59,775.59 229 5.25%
5 Deutsche Bank 52,560.34 166 4.61%