Top Story
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Super rare name comes to red hot dollar market
The super hot dollar market is set to welcome a pair of SSAs on Thursday — including a rare name in the currency — after a mid-week lull in issuance.
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EDC to go on road for euro debut amid scorching conditions
Export Development Canada will head out for a roadshow next month for its first benchmark in euros, taking advantage of the attractive market conditions for issuing in the currency for dollar funders. More deals could follow from debut and rare issuers in euros, with several borrowers looking “closely” at the cross currency basis swap, according to bankers.
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BNG to lay down crucial marker for smaller SSAs
Bank Nederlandse Gemeenten hit screens for its first euro benchmark of the year on Wednesday. The deal will be closely watched by the market as an important reference for what the environment looks like for the smaller euro public sector borrowers in 2019.
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Investors move out of Gilts in ‘soft’ or no Brexit play
Gilt yields jumped on Wednesday morning as investors bet that the UK government’s record defeat in its parliamentary vote on its Brexit deal on Tuesday would lead to a softer Brexit — or even no Brexit at all.
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Ivanka Trump and the World Bank — a blessing in disguise?
Ivanka Trump, a US businesswoman better known as the daughter of US president Donald Trump, is set to help out in the search for a new World Bank president. While she is likely the least qualified person ever to have assisted in the process of appointing such an important position, the tempering influence she may have on her father’s disdain for multilateralism could be a blessing — at least the best we can hope for in these politically insane times.
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Italy and EIB soak up huge euro demand ahead of Brexit vote
Italy and the European Investment received combined orders of over €50bn in the euro public sector market on Tuesday before what could be an even more uncertain period in Europe, with the UK parliament set to vote on prime minister Theresa May’s Brexit withdrawal agreement later in the evening.
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SSAs find size in dollars as supply tipped to run
Public sector borrowers printed over $10bn of bonds on Tuesday in a dollar market that SSA bankers expect to keep its momentum in the weeks ahead.
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SNCF Réseau plans €2.5bn of green bonds in 2019
SNCF Réseau will aim to boost its volume of green bonds this year in public and private markets, after cutting short its funding last year as a result of potential French railway reforms that became a reality at the end of 2018.
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Comment
-
Ivanka Trump and the World Bank — a blessing in disguise?
Ivanka Trump, a US businesswoman better known as the daughter of US president Donald Trump, is set to help out in the search for a new World Bank president. While she is likely the least qualified person ever to have assisted in the process of appointing such an important position, the tempering influence she may have on her father’s disdain for multilateralism could be a blessing — at least the best we can hope for in these politically insane times.
SSA Priced Deals Database
| Issuer | Trade Date | BondMarker average score | Currency |
|---|---|---|---|
|
|
|||
| Inter-American Development Bank (IADB) | 11-Jan-19 | GBP | |
| Nederlandse Waterschapsbank (NWB) | 10-Jan-19 | Score now | EUR |
| Investitionsbank Berlin (IBB) | 10-Jan-19 | EUR | |
| FMS Wertmanagement (FMS-W) | 10-Jan-19 | GBP |
Sovereigns
Supranationals and agencies
Sub-sovereigns
MTNs and CP
People and markets
Bond comments
European Sovereign Bonds
| Rank | Lead Manager | Amount €m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 4,065.52 | 3 | 14.97% |
| 2 | Citi | 3,902.17 | 4 | 14.37% |
| 3 | HSBC | 3,735.13 | 3 | 13.76% |
| 4 | BNP Paribas | 3,073.09 | 4 | 11.32% |
| 5 | Barclays | 2,241.64 | 2 | 8.26% |
Bookrunners of Global SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 14,090.09 | 29 | 12.36% |
| 2 | Citi | 10,860.80 | 22 | 9.53% |
| 3 | HSBC | 10,854.62 | 17 | 9.52% |
| 4 | Barclays | 9,727.11 | 17 | 8.53% |
| 5 | BNP Paribas | 8,260.87 | 15 | 7.25% |
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Bank Profiles
Latest news by market and league table performance
European Sovereign Bonds
| Rank | Lead Manager | Amount €m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 4,065.52 | 3 | 14.97% |
| 2 | Citi | 3,902.17 | 4 | 14.37% |
| 3 | HSBC | 3,735.13 | 3 | 13.76% |
| 4 | BNP Paribas | 3,073.09 | 4 | 11.32% |
| 5 | Barclays | 2,241.64 | 2 | 8.26% |
Dollar Denominated SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 5,515.04 | 10 | 16.93% |
| 2 | Citi | 4,570.65 | 7 | 14.03% |
| 3 | Barclays | 4,294.63 | 4 | 13.19% |
| 4 | HSBC | 3,991.33 | 4 | 12.25% |
| 5 | BNP Paribas | 3,164.15 | 4 | 9.71% |
Bookrunners of Euro Denominated SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 7,944.50 | 9 | 12.59% |
| 2 | UniCredit | 6,881.29 | 9 | 10.90% |
| 3 | HSBC | 5,554.84 | 5 | 8.80% |
| 4 | BNP Paribas | 4,996.87 | 7 | 7.92% |
| 5 | Bank of America Merrill Lynch | 4,801.82 | 6 | 7.61% |
Bookrunners of Global SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 14,090.09 | 29 | 12.36% |
| 2 | Citi | 10,860.80 | 22 | 9.53% |
| 3 | HSBC | 10,854.62 | 17 | 9.52% |
| 4 | Barclays | 9,727.11 | 17 | 8.53% |
| 5 | BNP Paribas | 8,260.87 | 15 | 7.25% |
