FADE stages impressive comeback into Spanish rally

FADE’s daring dive into the capital markets after being locked out of the market for a year paid off handsomely this week. Lead managers Barclays, BBVA, Crédit Agricole and Santander received orders of well over €2.5bn for the three year bond, comfortably justifying a €1.75bn print and a 10bp tightening from initial price guidance.

  • 30 Nov 2012

The impressive outperformance of Spanish government spreads over the last week set the scene for the comeback deal.

FADE has tried to issue public deals twice this year but failed on both occasions. In January it pulled a four year deal, which was marketed at 70bp over Bonos via ...

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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 9.77%
2 Barclays 15,041.98 19 9.17%
3 Citi 13,795.56 24 8.41%
4 HSBC 11,845.99 17 7.22%
5 BNP Paribas 10,802.75 16 6.58%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 39,984.80 109 11.91%
2 JPMorgan 29,288.84 79 8.72%
3 HSBC 28,343.59 71 8.44%
4 Bank of America Merrill Lynch 27,301.17 79 8.13%
5 Goldman Sachs 24,436.35 54 7.28%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 35,330.71 93 8.02%
2 HSBC 31,785.95 112 7.22%
3 Barclays 31,737.51 60 7.21%
4 UniCredit 30,928.85 82 7.02%
5 BNP Paribas 27,077.42 66 6.15%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 77,113.86 440 6.87%
2 Citi 75,996.41 275 6.77%
3 HSBC 71,702.97 280 6.39%
4 Barclays 59,526.84 228 5.31%
5 Deutsche Bank 51,764.72 162 4.61%