Japanese retail goes on yield hunt — bags Samurai from ‘excellent sovereign’ Poland

The Republic of Poland was the first sovereign to issue a retail-focused Samurai bond in a decade last Friday – a ¥25bn four year note. The move by Japanese investors away from triple-A rated issuers in search of higher coupons could drive further trades from similar borrowers.

  • 15 Jul 2011
Sole lead Daiwa launched the trade with a 1.2%-1.3% coupon range and closed books with a 1.25% coupon. That was crucial for the trade’s success. "Japanese retail investors are yield-hungry and the coupon level is one of the important points to attract them," said Hidenobu Shirota, head of ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

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 12.25%
2 JPMorgan 23,640.34 56 9.22%
3 HSBC 23,014.61 52 8.98%
4 Bank of America Merrill Lynch 19,900.14 59 7.76%
5 Deutsche Bank 19,121.36 29 7.46%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 27,037.51 66 7.92%
2 Barclays 25,435.97 46 7.45%
3 UniCredit 25,297.29 63 7.41%
4 HSBC 23,482.89 81 6.88%
5 BNP Paribas 21,888.86 45 6.41%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 59,631.02 334 6.92%
2 Citi 59,284.35 218 6.88%
3 HSBC 56,064.57 206 6.50%
4 Barclays 47,788.04 175 5.54%
5 Deutsche Bank 43,643.71 131 5.06%