Top Stories
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IDA delights in dollars with other SDR currencies to come
Public sector bankers lined up to laud a new SSA borrower this week, as the International Development Association (IDA) surpassed expectations on its bond debut. Now, many are eager to see the its next move, with many anticipating a Washington supranational with greater currency flexibility, writes Craig McGlashan.
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IDA: from ‘Who’s that?’ to ‘Who’s Who’
IDA has existed since 1960, is owned by 173 countries and is a legally independent entity with “the same status, immunities and privileges as IBRD and IFC” — yet in the world of bond financing, it was up until about a month ago effectively an unknown entity.
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KfW breaks record in euro sevens but EFSF tipped for long end
KfW drew its largest ever benchmark book this week while visiting the seven year tenor, a part of the euro curve that has been red hot for issuers for several weeks and that SSA bankers still has plenty to offer borrowers next week. The European Financial Stability Facility (EFSF) is lining up a deal for next week, although bankers are suggesting it looks at the long end.
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You can't just recycle if you believe in ESG
Two pieces of news this week highlight how environmental, social and governance (ESG) investing is conquering the capital markets. But both carry a risk of intellectual laziness.
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HK green credentials boosted by supra deals
A pair of supranationals helped bolster Hong Kong’s green bond ambitions with some SRI deals this week.
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Norway extends curve on debut syndication
The Kingdom of Norway sold its first syndication on Thursday, following a two week global roadshow intended to broaden and internationalise the investor base buying government debt from the Scandinavian country.
Go to GlobalCapital's SSA data pages for the latest information on priced deals, borrower funding progress, league tables and upcoming deals.
Comment
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You can't just recycle if you believe in ESG
Two pieces of news this week highlight how environmental, social and governance (ESG) investing is conquering the capital markets. But both carry a risk of intellectual laziness.
SSA Priced Deals Database
| Issuer | Trade Date | Currency | Size (m) |
|---|---|---|---|
|
|
|||
| Norway | 19-Apr-18 | NOK | 12,000 |
| European Bank for Reconstruction and Development (EBRD) | 19-Apr-18 | USD | 1,750 |
| KfW | 18-Apr-18 | EUR | 5,000 |
| European Investment Bank (EIB) | 18-Apr-18 | USD | 1,500 |
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 | Barclays | 10,381.54 | 13 | 11.25% |
| 2 | JPMorgan | 10,114.01 | 13 | 10.96% |
| 3 | Citi | 9,037.14 | 14 | 9.79% |
| 4 | HSBC | 7,587.14 | 11 | 8.22% |
| 5 | NatWest Markets | 6,826.39 | 6 | 7.40% |
Bookrunners of Global SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 44,696.70 | 137 | 8.07% |
| 2 | JPMorgan | 43,790.91 | 192 | 7.90% |
| 3 | HSBC | 40,157.40 | 132 | 7.25% |
| 4 | Barclays | 32,609.35 | 94 | 5.88% |
| 5 | Deutsche Bank | 30,222.31 | 83 | 5.45% |
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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 | Barclays | 10,381.54 | 13 | 11.25% |
| 2 | JPMorgan | 10,114.01 | 13 | 10.96% |
| 3 | Citi | 9,037.14 | 14 | 9.79% |
| 4 | HSBC | 7,587.14 | 11 | 8.22% |
| 5 | NatWest Markets | 6,826.39 | 6 | 7.40% |
Dollar Denominated SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 26,051.28 | 56 | 12.96% |
| 2 | HSBC | 19,540.53 | 40 | 9.72% |
| 3 | JPMorgan | 16,456.57 | 36 | 8.19% |
| 4 | Deutsche Bank | 15,761.17 | 21 | 7.84% |
| 5 | Bank of America Merrill Lynch | 14,209.83 | 40 | 7.07% |
Bookrunners of Euro Denominated SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 20,357.89 | 34 | 9.17% |
| 2 | Barclays | 18,682.87 | 27 | 8.42% |
| 3 | HSBC | 15,561.43 | 46 | 7.01% |
| 4 | BNP Paribas | 14,769.79 | 25 | 6.65% |
| 5 | NatWest Markets | 13,389.93 | 13 | 6.03% |
Bookrunners of Global SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 44,696.70 | 137 | 8.07% |
| 2 | JPMorgan | 43,790.91 | 192 | 7.90% |
| 3 | HSBC | 40,157.40 | 132 | 7.25% |
| 4 | Barclays | 32,609.35 | 94 | 5.88% |
| 5 | Deutsche Bank | 30,222.31 | 83 | 5.45% |
