Top Stories
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EIB blows doors off with landmark Sonia deal
The European Investment Bank threw itself into a new type of sterling deal with aplomb, making a splash with a £1bn floater referencing the Sonia benchmark, in what bankers believe may become the new standard for the market.
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EIB blows doors off with landmark Sonia deal
The European Investment Bank threw itself into a new type of sterling deal with aplomb, making a splash with a £1bn floater referencing the Sonia benchmark, in what bankers believe may become the new standard for the market.
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A sterling effort by EIB
The European Investment Bank deserves serious plaudits for taking the plunge this week with a sterling floating rate note that pays coupons linked to Sonia rather than Libor — no matter how well the deal goes.
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Sovereigns praise primary dealers but system ‘not ideal’
Sovereign debt officials praised the role primary dealers played during the volatility that hit eurozone government debt markets in the second quarter, though some still feel the system is “not ideal”.
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Finnvera breaks SSA silence as bankers foresee busy week
With much of the great and good of the public sector markets busy at the Euromoney Global Borrowers and Bond Investors Forum in London (see page 6 for full coverage), deals were thin on the ground this week. But one Nordic agency was able to build its largest ever order book in dollars and, with conditions looking strong, both that currency and euros are likely to be packed next week, said bankers.
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BTPs take another hit after Eurosceptic appointments
Italy’s bonds suffered another day of rising yields on Thursday after the country’s government appointed Eurosceptics to head financial committees.
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European sovereign DMOs not convinced by green bonds
Governments’ interest in issuing green bonds remains very patchy, despite the rapid growth in other parts of the market. Among large banks, issuing green bonds now seems almost de rigueur, but that is certainly not the case for governments.
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Comment
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A sterling effort by EIB
The European Investment Bank deserves serious plaudits for taking the plunge this week with a sterling floating rate note that pays coupons linked to Sonia rather than Libor — no matter how well the deal goes.
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 | 12,417.34 | 15 | 11.10% |
| 2 | JPMorgan | 10,784.81 | 16 | 9.64% |
| 3 | Citi | 9,836.54 | 17 | 8.80% |
| 4 | NatWest Markets | 8,487.83 | 7 | 7.59% |
| 5 | HSBC | 7,788.95 | 12 | 6.97% |
Bookrunners of Global SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 51,730.52 | 279 | 7.24% |
| 2 | Citi | 50,929.52 | 181 | 7.13% |
| 3 | HSBC | 46,782.66 | 171 | 6.55% |
| 4 | Barclays | 40,928.81 | 133 | 5.73% |
| 5 | Deutsche Bank | 37,881.53 | 100 | 5.30% |
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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 | 12,417.34 | 15 | 11.10% |
| 2 | JPMorgan | 10,784.81 | 16 | 9.64% |
| 3 | Citi | 9,836.54 | 17 | 8.80% |
| 4 | NatWest Markets | 8,487.83 | 7 | 7.59% |
| 5 | HSBC | 7,788.95 | 12 | 6.97% |
Dollar Denominated SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 28,901.35 | 74 | 12.47% |
| 2 | HSBC | 22,334.06 | 48 | 9.64% |
| 3 | JPMorgan | 19,268.59 | 52 | 8.32% |
| 4 | Deutsche Bank | 17,915.81 | 27 | 7.73% |
| 5 | Bank of America Merrill Lynch | 16,436.98 | 51 | 7.09% |
Bookrunners of Euro Denominated SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 24,234.99 | 53 | 8.61% |
| 2 | Barclays | 21,482.86 | 36 | 7.63% |
| 3 | UniCredit | 19,921.86 | 49 | 7.08% |
| 4 | Credit Agricole CIB | 18,862.23 | 49 | 6.70% |
| 5 | HSBC | 18,112.51 | 64 | 6.44% |
Bookrunners of Global SSA (Excl US Agency)
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 51,730.52 | 279 | 7.24% |
| 2 | Citi | 50,929.52 | 181 | 7.13% |
| 3 | HSBC | 46,782.66 | 171 | 6.55% |
| 4 | Barclays | 40,928.81 | 133 | 5.73% |
| 5 | Deutsche Bank | 37,881.53 | 100 | 5.30% |
