SSA issuers set for nail-biting finish to summer as September brings new fears

Supranational and agency borrowers are under increasing pressure to print euro benchmarks ahead of what could be a shambolic September. But that only leaves one week in which to issue, raising the prospect of an unseemly jostling for position in an overcrowded market, writes Tessa Wilkie.

  • 24 Aug 2012

If this week’s euro deals are anything to go by, investors are hardly champing at the bit. Several issuers are preparing to print benchmarks, but deciding when to pull the trigger will be tough.

September could bring new volatility as Spain and Italy will sell bonds, Troika inspectors ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 16,575.88 26 9.55%
2 Barclays 15,585.79 20 8.98%
3 Citi 15,428.98 26 8.89%
4 HSBC 12,009.31 18 6.92%
5 BNP Paribas 11,235.58 17 6.48%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 44,072.83 119 12.29%
2 HSBC 30,286.67 79 8.44%
3 JPMorgan 30,034.04 86 8.37%
4 Bank of America Merrill Lynch 28,490.01 86 7.94%
5 Goldman Sachs 26,512.56 61 7.39%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 35,494.64 97 7.67%
2 HSBC 33,049.47 129 7.14%
3 UniCredit 32,836.18 95 7.10%
4 Barclays 32,248.82 64 6.97%
5 BNP Paribas 27,773.05 69 6.00%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 81,585.39 290 6.81%
2 JPMorgan 78,905.10 458 6.59%
3 HSBC 75,328.25 308 6.29%
4 Barclays 61,512.07 243 5.14%
5 Deutsche Bank 54,387.29 174 4.54%