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 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 12.21%
2 JPMorgan 23,640.34 56 9.19%
3 HSBC 23,014.61 52 8.95%
4 Bank of America Merrill Lynch 19,900.14 59 7.74%
5 Deutsche Bank 19,121.36 29 7.43%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 27,151.82 67 7.93%
2 Barclays 25,435.97 46 7.43%
3 UniCredit 25,297.29 63 7.39%
4 HSBC 23,482.89 81 6.86%
5 BNP Paribas 21,888.86 45 6.39%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 59,786.88 337 6.92%
2 Citi 59,428.77 219 6.87%
3 HSBC 56,064.57 206 6.49%
4 Barclays 48,150.27 177 5.57%
5 Deutsche Bank 43,643.71 131 5.05%