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Increased foreign interest helps propel Joint Laender to success

International demand boosted the first benchmark from the Joint Laender (44 on Wednesday, with interest from several new investors helping to buoy the deal. A more generous level than usual on Laender trades also helped the deal to succeed.

  • By Nathan Collins
  • 24 Jan 2014

Bayern LB, Dekabank, Deutsche Bank, HSBC and LBBW priced the €1bn 1.5% January 2021 bonds at 4bp over mid-swaps, in line with guidance and initial price thoughts of 4bp area. This amounted to a new issue premium of around 3bp-4bp, according to bankers close to the deal.

The ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 JPMorgan 4,065.52 3 14.97%
2 Citi 3,902.17 4 14.37%
3 HSBC 3,735.13 3 13.76%
4 BNP Paribas 3,073.09 4 11.32%
5 Barclays 2,241.64 2 8.26%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 JPMorgan 4,727.82 8 15.90%
2 Citi 4,570.65 7 15.37%
3 Barclays 4,294.63 4 14.44%
4 HSBC 3,617.55 3 12.17%
5 BNP Paribas 3,164.15 4 10.64%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 JPMorgan 7,944.50 9 12.89%
2 UniCredit 6,881.29 9 11.17%
3 HSBC 5,554.84 5 9.01%
4 Bank of America Merrill Lynch 4,801.82 6 7.79%
5 Citi 4,678.34 6 7.59%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 JPMorgan 13,302.87 27 12.33%
2 Citi 10,860.80 22 10.07%
3 HSBC 10,480.84 16 9.72%
4 Barclays 9,727.11 17 9.02%
5 BNP Paribas 7,845.59 13 7.27%