Bankers await EFSF five year mandate as S&P dumps Spain

Senior SSA bankers expect the European Financial Stability Facility (EFSF) to mandate a five year euro benchmark as early as Friday morning for launch and pricing during the following week. Despite S&P downgrading Spain on Thursday, new issue markets remain open and the European Union could follow the EFSF with a deal of its own in fairly short order.

  • 12 Oct 2012
The EFSF sent out RFPs for a deal on Wednesday. Although it is understood that the issuer did not specify a preference for maturity, all the syndicate desks that EuroWeek spoke to had recommended a five year deal to allow the issuer to take as much size out ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 18,481.15 26 8.87%
2 HSBC 16,094.53 24 7.73%
3 BNP Paribas 15,919.65 22 7.64%
4 Barclays 15,336.60 24 7.36%
5 Goldman Sachs 14,733.99 25 7.07%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 53,463.63 126 11.60%
2 Citi 52,833.87 135 11.46%
3 HSBC 36,135.69 91 7.84%
4 Bank of America Merrill Lynch 34,198.88 105 7.42%
5 Deutsche Bank 31,628.48 76 6.86%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 34,793.50 122 7.24%
2 HSBC 34,778.70 117 7.24%
3 Barclays 32,929.25 80 6.85%
4 Goldman Sachs 31,906.26 88 6.64%
5 BNP Paribas 31,635.81 68 6.58%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 95,819.56 331 7.31%
2 JPMorgan 93,889.82 550 7.17%
3 HSBC 82,271.52 300 6.28%
4 Barclays 67,249.07 214 5.13%
5 Bank of America Merrill Lynch 66,602.63 218 5.08%