Green bonds multiply as spread parity melts

Green bonds, the asset class that captivated so many sectors of the bond market in 2013, could be set for explosive growth this year, say bankers. And despite the expected supply surge, spreads may well plough through outstanding curves of normal bonds if recent price action in some green bonds is any sort of indicator, write Jon Hay and Tessa Wilkie.

  • By Jon Hay, Tessa Wilkie
  • 17 Jan 2014
Green bond issuance this year could reach $20bn-$25bn, bankers say, doubling the market’s outstanding volume. Meanwhile, a few green bonds are starting to trade tighter than their issuers’ ordinary bonds in the secondary market — bringing one step closer the day when an issuer might be able to sell ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 13,577.78 16 10.48%
2 Citi 12,045.36 19 9.30%
3 JPMorgan 11,945.26 17 9.22%
4 HSBC 10,316.86 14 7.96%
5 NatWest Markets 8,487.83 7 6.55%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 31,408.33 81 12.25%
2 JPMorgan 23,640.34 56 9.22%
3 HSBC 23,014.61 52 8.98%
4 Bank of America Merrill Lynch 19,900.14 59 7.76%
5 Deutsche Bank 19,121.36 29 7.46%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 27,037.51 66 7.93%
2 Barclays 25,435.97 46 7.46%
3 UniCredit 25,297.29 63 7.42%
4 HSBC 23,482.89 81 6.89%
5 BNP Paribas 21,888.86 45 6.42%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 59,631.02 334 6.98%
2 Citi 59,108.26 216 6.91%
3 HSBC 56,064.57 206 6.56%
4 Barclays 47,783.66 175 5.59%
5 Deutsche Bank 43,453.85 129 5.08%