Top Stories
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ESM picks dollars to wrap up 2018 funding
The European Stability Mechanism mandated banks on Monday for its second ever dollar benchmark, following the launch of its dollar programme last year. The supranational will likely issue a size of $3bn to complete its funding needs for the year, according to SSA bankers.
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BondMarker: Kommuninvest’s three year takes hit on pricing
Kommuninvest has hit its lowest BondMarker score of the year so far with a trade that drew an average rating of 6.53 from voters. The $1bn November 2021 on October 2, the only benchmark priced in the week commencing October 1, scored particularly lowly for pricing, on 6.06.
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Islamic Development Bank goes on road for euro sukuk
Islamic Development Bank has picked banks for a roadshow promoting its debut euro denominated sukuk benchmark — for the second time this year.
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Funding scorecard: European supranationals and agencies
This week's funding scorecard looks at the progress of Europe's supranationals and agencies at the start of the fourth quarter.
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OeKB eyes short end for final benchmark of 2018
Österreichische Kontrollbank could issue one more benchmark before the year end at the short end of the curve, according to a treasury official at the agency.
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Ireland and SGP soar through green debuts
Ireland this week added its name to the growing list of sovereign green bond issuers, achieving one of its main goals as it diversified its investor base. A debut French agency issuer joined the sovereign on Wednesday, printing its first ever deal — which also came from the first ever Green Euro Medium Term Note programme.
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Comment
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Portugal resilient, not immune to risks
There is no question that Portugal is one of the success stories to come out of the eurozone sovereign debt crisis. Its 10 year yield, for instance, has recovered from above 16% at the peak of the crisis in 2012 to around 2% today. Amid the current pressures in the eurozone, precipitated by Italy's budget fiasco, Portugal has remained resilient. But rightly or wrongly, an escalation of matters there, or indeed elsewhere in the eurozone periphery, would bring extra pressure to bear.
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 | 15,293.97 | 23 | 10.03% |
| 2 | Barclays | 15,041.98 | 19 | 9.87% |
| 3 | Citi | 12,831.69 | 22 | 8.42% |
| 4 | HSBC | 11,347.34 | 16 | 7.44% |
| 5 | BNP Paribas | 9,566.00 | 13 | 6.27% |
Bookrunners of Global SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 74,678.82 | 408 | 7.16% |
| 2 | Citi | 69,968.55 | 257 | 6.71% |
| 3 | HSBC | 65,031.10 | 253 | 6.23% |
| 4 | Barclays | 56,796.70 | 213 | 5.44% |
| 5 | Deutsche Bank | 47,371.28 | 150 | 4.54% |
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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 | 15,293.97 | 23 | 10.03% |
| 2 | Barclays | 15,041.98 | 19 | 9.87% |
| 3 | Citi | 12,831.69 | 22 | 8.42% |
| 4 | HSBC | 11,347.34 | 16 | 7.44% |
| 5 | BNP Paribas | 9,566.00 | 13 | 6.27% |
Dollar Denominated SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 37,110.25 | 100 | 12.05% |
| 2 | JPMorgan | 27,982.56 | 72 | 9.08% |
| 3 | HSBC | 25,995.51 | 64 | 8.44% |
| 4 | Bank of America Merrill Lynch | 24,331.42 | 72 | 7.90% |
| 5 | Goldman Sachs | 21,282.75 | 49 | 6.91% |
Bookrunners of Euro Denominated SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 34,727.52 | 87 | 8.50% |
| 2 | Barclays | 31,192.90 | 58 | 7.63% |
| 3 | UniCredit | 28,627.02 | 77 | 7.01% |
| 4 | HSBC | 28,056.09 | 101 | 6.87% |
| 5 | BNP Paribas | 26,072.11 | 61 | 6.38% |
Bookrunners of Global SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 74,678.82 | 408 | 7.16% |
| 2 | Citi | 69,968.55 | 257 | 6.71% |
| 3 | HSBC | 65,031.10 | 253 | 6.23% |
| 4 | Barclays | 56,796.70 | 213 | 5.44% |
| 5 | Deutsche Bank | 47,371.28 | 150 | 4.54% |
