Syndicates show off in style as France follows new fashion

The Republic of France spearheaded a record Eu25bn of syndicated euro issuance from sovereigns and agencies this week as issuers’ new-found enthusiasm for the syndication method combined with perfect conditions for the sector.

  • 26 Jun 2009
The success of the UK’s £7bn 25 year Gilt a week earlier demonstrated the benefits of syndication versus auction, delivering large size, tight pricing and diverse distribution without disruption to the secondary market. France, Belgium and Ireland were quick to emulate the strategy, collectively weighing in with Eu17bn ...

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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 12.22%
2 JPMorgan 23,640.34 56 9.20%
3 HSBC 23,014.61 52 8.95%
4 Bank of America Merrill Lynch 19,900.14 59 7.74%
5 Deutsche Bank 19,121.36 29 7.44%

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 59,786.88 337 6.92%
2 Citi 59,428.77 219 6.87%
3 HSBC 56,064.57 206 6.49%
4 Barclays 48,150.27 177 5.57%
5 Deutsche Bank 43,643.71 131 5.05%