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 Barclays 12,417.34 15 11.10%
2 JPMorgan 10,784.81 16 9.64%
3 Citi 9,836.54 17 8.80%
4 NatWest Markets 8,487.83 7 7.59%
5 HSBC 7,788.95 12 6.97%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 28,901.35 74 12.48%
2 HSBC 22,334.06 48 9.64%
3 JPMorgan 19,145.59 51 8.27%
4 Deutsche Bank 17,915.81 27 7.74%
5 Bank of America Merrill Lynch 16,436.98 51 7.10%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 24,223.40 52 8.61%
2 Barclays 21,482.86 36 7.64%
3 UniCredit 19,921.86 49 7.08%
4 Credit Agricole CIB 18,862.23 49 6.71%
5 HSBC 18,112.51 64 6.44%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 51,595.93 277 7.25%
2 Citi 50,929.52 181 7.15%
3 HSBC 46,450.64 170 6.52%
4 Barclays 40,928.81 133 5.75%
5 Deutsche Bank 37,881.53 100 5.32%