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NWB makes a splash with water bond as EU lines up EFSM deal
Nederlandse Waterschapsbank was twice covered and paid zero new issue premium as it sold an intraday 30 year water bond on Monday. The European Union will follow into the euro public sector bond market on Tuesday to fund a maturity lengthening operation under its European Financial Stabilisation Mechanism programme.
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Post-results Scandie credit pipeline builds
A handful of borrowers are circling the Nordic markets with an eye to printing after the end of first quarter results. But the looming blackouts have not deterred every type of credit from tapping the market as a range of corporate, covered bond and financial issuers placed paper this week.
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SSA pair look to Scandinavia
Norwegian krone SSA supply is outpacing Swedish kronor so far this year, driven in part by a demand for zero risk weighted assets in the market. Among the latest names to access the Norwegian market is the African Development Bank, which sold a new social bond as part of a dual-currency issue.
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Euronav docks SLL as ship finance steers towards ESG
Euronav, the Belgian tanker company, has signed a sustainability-linked revolving credit facility, as the shipping industry comes under increasing scrutiny over its carbon output.
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World Bank and KfW print Scandi SRI bonds
World Bank and KfW sold socially responsible bonds in Scandinavian currencies on Tuesday.
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Volkswagen tightens auto spread to 2018 with market reopener
Auto spreads in the European ABS market have tightened to levels not seen since 2018 after Volkswagen Bank priced its German lease deal, VCL 32, at a discount margin of 15bp over one-month Euribor on Wednesday.
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Single-A supply printed tight as ECB squeezes investors into low spreads
EnBW, the German electrical utility, and the financing arm of a Dutch truck company, DAF Paccar Financial, hit screens with highly rated euro trades on Monday. Central bank bond buying higher than forecast, pushed investors to oversubscribe the deals even though the spreads on offer were thin.
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Bubble called as H&M debut soars
Hennes & Mauritz, the Swedish clothing retailer, earned blowout demand for its sustainability-linked debut bond, but bankers off the trade said on Thursday that the exuberance was indicative of just how far capital markets have strayed from reality.
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H&M gets €5.4bn of orders for SLB debut bond
H&M, the Swedish clothing retail company, has received blowout demand for its debut bond, as the “perfect storm” of ESG criteria and European Central Bank rule changes to allow it to buy sustainability-linked bonds saw the order book bulge to almost 11 times subscribed at guidance.
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H&M hits sustainability-linked market for first ever bond
Hennes & Mauritz, the Swedish clothing retailer, has chosen to issue its first ever bond in the novel sustainability-linked format.
SEB In The Key League Tables
Asset | Rank | STLY | Amount $bn | No of issues | Share % | STLY Share % |
---|---|---|---|---|---|---|
|
||||||
Bookrunners of Global Covered Bonds | 16 | 28 | 0.83 | 8 | 2.91% | 1.17% |
Bookrunners of Euro Denominated Corporate IG Bonds | 18 | 16 | 1.29 | 6 | 2.04% | 2.44% |
Bookrunners of European Corporate IG Bonds | 13 | 12 | 2.23 | 15 | 3.13% | 3.17% |
Bookrunners of all EMEA Equity-Linked ECM | 13 | 0.03 | 1 | 1.78% | ||
Dealer League Table World Bank | 14 | 17 | 0.24 | 1 | 1.66% | 0.99% |
Dealer League Table NWB | 5 | 0.15 | 1 | 6.78% | ||
Dealer League Table Kommuninvest | 1 | 1.28 | 4 | 17.02% |
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Bank Profiles
Latest news by market and league table performance
Bond Comments
-
IADB USD4.25bn 0.875% Apr 26
-
Land NRW USD1.75bn 1% Apr 26
-
Spain EUR6bn 0.85% Jul 37
-
Austria EUR4.5bn 0% Apr 25m, EUR2bn 0.7% Apr 71
-
EFSF EUR4bn 0% Jul 26
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World Bank USD3bn 0.125% Apr 23 sustainable development bond, USD5bn 1.375% Apr 28 sustainable development bond
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BNG EUR2bn 0.125% Apr 33 sustainability bond
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Rabobank EUR750m 3.1% PNC Dec 28 AT1
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Berlin Hyp EUR500m 0.375% Apr 31 sustainability-linked senior
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Italy EUR7bn 0.25% Mar 28 tap, EUR5bn 2.15% Mar 72
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KfW EUR4bn 0% Jun 29 green bond
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ADB USD5bn 1% Apr 26
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Portugal EUR4bn 0.3% Oct 31
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Macquarie Bank GBP400m 1.125% Dec 26 senior
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Santander Consumer Bank EUR500m 0.125% Apr 26 senior
All International Bonds
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | JPMorgan | 92.59 | 388 | 8.96% |
2 | Citi | 85.30 | 278 | 8.25% |
3 | BofA Securities | 63.15 | 265 | 6.11% |
4 | Barclays | 58.01 | 223 | 5.61% |
5 | Deutsche Bank | 55.74 | 184 | 5.39% |
Bookrunners of All Syndicated Loans EMEA
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | BNP Paribas | 60.87 | 123 | 14.06% |
2 | Credit Agricole CIB | 28.59 | 93 | 6.60% |
3 | Santander | 25.41 | 90 | 5.87% |
4 | JPMorgan | 23.88 | 61 | 5.52% |
5 | UniCredit | 21.51 | 103 | 4.97% |
Bookrunners of all EMEA ECM Issuance
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | Goldman Sachs | 2.07 | 11 | 10.42% |
2 | BofA Securities | 1.40 | 6 | 7.01% |
3 | Citi | 1.37 | 7 | 6.87% |
4 | Morgan Stanley | 1.36 | 6 | 6.85% |
5 | JPMorgan | 1.31 | 7 | 6.59% |