EFSF rating first piece in investor puzzle

Despite rating agencies awarding the European Financial Stability Facility its desired AAA status this week, bankers complained they still do not have all the detail they needed about how the facility will operate should it need to issue.

  • 24 Sep 2010

Many SSA bankers were positive about the ratings news in general although some felt the EFSF should meet more of its likely investor base to answer questions and provide detail and communication over some of the more ambiguous aspects of its planned operations.

"There is so much mutual support ...

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European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 16,032.07 25 9.77%
2 Barclays 15,041.98 19 9.17%
3 Citi 13,795.56 24 8.41%
4 HSBC 11,845.99 17 7.22%
5 BNP Paribas 10,802.75 16 6.58%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 39,984.80 109 11.91%
2 JPMorgan 29,288.84 79 8.72%
3 HSBC 28,343.59 71 8.44%
4 Bank of America Merrill Lynch 27,301.17 79 8.13%
5 Goldman Sachs 24,436.35 54 7.28%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 35,330.71 93 8.02%
2 HSBC 31,785.95 112 7.22%
3 Barclays 31,737.51 60 7.21%
4 UniCredit 30,928.85 82 7.02%
5 BNP Paribas 27,077.42 66 6.15%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 77,113.86 440 6.89%
2 Citi 75,996.41 275 6.79%
3 HSBC 71,702.97 280 6.41%
4 Barclays 59,526.84 228 5.32%
5 Deutsche Bank 51,764.72 162 4.62%