Cades ‘best ever’ in euros, joy for EIB too

Cades (Caisse d’Amortissement de la Dette Sociale) and the European Investment Bank took advantage of the bullish market this week to issue euro benchmarks, both of which exceeded the expectations of the issuers and lead managers.

  • 27 Jan 2012

Cades powered in with a €4bn December 2025 bond, the success of which was down to the 4% coupon — much sought after, particularly by insurance companies and pension funds.

Philippe Noel, head of funding at Cades, said it was the best deal he had issued in his time ...

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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 28,650.01 73 12.44%
2 HSBC 22,084.84 47 9.59%
3 JPMorgan 18,953.14 49 8.23%
4 Deutsche Bank 17,915.81 27 7.78%
5 Bank of America Merrill Lynch 16,436.98 51 7.14%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 23,958.28 49 8.62%
2 Barclays 21,482.86 36 7.73%
3 Credit Agricole CIB 18,862.23 49 6.79%
4 UniCredit 18,150.64 48 6.53%
5 HSBC 18,112.51 64 6.52%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 50,878.64 251 7.26%
2 Citi 50,509.60 178 7.21%
3 HSBC 46,065.52 168 6.57%
4 Barclays 40,928.81 133 5.84%
5 Deutsche Bank 37,881.53 100 5.40%