L-Bank in the news

  • Hawkish Fed moves 10 year dollars into SSAs’ sights

    A slightly more hawkish than expected US Federal Open Market Committee meeting mid-week has nudged up US Treasury yields — bringing 10 year dollar issuance nearly within SSAs’ reach, said bankers. But in the meantime, SSA bankers are looking at the dollar pipeline with dismay.

    • 21 Sep 2017
  • L-Bank picks up $500m with cheeky pre-Fed floater

    L-Bank has snuck in at the last possible moment before the end of a crucial US Federal Reserve meeting to raise $500m with a comfortably oversubscribed floater.

    • 20 Sep 2017
  • Ontario returns to sterling, printing well-received floater

    Three public sector borrowers hit screens in sterling this week, including a rare floating rate note from the Province of Ontario, which made use of the currency for the first time in six years.

    • 04 May 2017
  • German issuers defend new issue fees

    Several German public sector issuers defended new issue fees, despite a worsening service from investment banks, in a panel discussion at Euromoney’s Germany Conference in Berlin on Wednesday.

    • 27 Apr 2017
  • L-Bank gets its biggest ever sterling deal

    L-Bank shattered its sterling size record on Wednesday, exceeding the expectations of even its leads with a £500m five year deal.

    • 06 Apr 2017
  • L-Bank USD1bn 1.625% Feb 19

    • 26 Jan 2017
  • Never had it so good: SSAs enjoy ‘perfect January’ in dollars

    The dollar bond market for public sector borrowers this week rounded off a spectacular January, with many bankers describing it as “perfect” and the best in five years.

    • 26 Jan 2017
  • Dollar benchmark triple rounds off ‘perfect’ January

    A trio of issuers brought deals across the short end of the dollar curve on Wednesday, adding to what one SSA syndicate head described as the “ideal January”. Supply looks to have dimmed for now, with no deals on screen for Thursday and Chinese New Year holidays next week likely to halt benchmark issuance, but bankers believe conditions are so hot that arbitrage deals or floating rate notes could still break through.

    • 25 Jan 2017
  • SSAs look to MTNs to wind up 2016

    SSAs are turning to the MTN market to meet investor requests and to pick up some pre-funding in December, with the bulk of their funding needs for the year completed.

    • 01 Dec 2016
  • EDC splashes in sterling

    Export Development Canada is to print a long four year sterling bond as demand for paper in the currency defied fears of a possible UK's exit from the European Union.

    • 17 May 2016
  • Sterling supply remains solid as L-Bank prints at fives

    L-Bank printed a five year deal on Monday as the sterling market kept up solid momentum from last week.

    • 12 May 2016
  • Sterling supply solid as L-Bank prints at fives

    L-Bank printed a five year deal on Monday as the sterling market kept up solid momentum from last week.

    • 09 May 2016
  • Japanese new year helps drive perfect conditions in dollar mart

    Issuers stormed out of the blocks with a set of deals across the curve this week, with factors including an increase in swap spreads on the short end, a positive feeling towards the US market since Janet Yellen’s statements in March and the start of the Japanese fiscal year all credited.

    • 14 Apr 2016
  • AfDB and L-Bank highlight appeal at short end

    The African Development Bank and L-Bank on Thursday added to a surge of deals at the short end of the dollar curve, as issuance rode on a wave of dovish central bank outlooks.

    • 14 Apr 2016
  • L-Bank and AfDB line up as move in swap spreads tempts investors

    L-Bank and the African Development Bank are set to be the latest issuers this week to take advantage of rising short end dollar swap spreads, mandating for deals on Wednesday after Finland printed a short dated deal of its own.

    • 13 Apr 2016
  • SSA deals shouldn't flop

    It’s hard to pinpoint where the blame should lie for this week’s postponed L-Bank deal. Maybe for once none lies within the market.

    • 17 Mar 2016
  • Another deal dumped as SSAs fight over slim windows

    A postponed deal as issuers clashed in the SSA market left a blemish on a strong week for the improving public sector dollar bond market. But such occurrences may well become the norm as issuers crowd in to narrow windows, writes Craig McGlashan.

    • 17 Mar 2016
  • SSAs clash as Fed and Easter clear the decks

    Despite the limited supply in the SSA market this week, with issuers avoiding issuing close to this week’s US Federal Open Market Committee meeting and the approaching Easter holidays, there was still room for a clash of issuers on Monday as one borrower felt compelled to slam the anchors on its proposed benchmark.

    • 16 Mar 2016
  • Cades bring home dollar fives as L-Bank pauses

    Caisse d'Amortissement de la Dette Sociale found strong demand at the five year part of the dollar curve on Tuesday, as L-Bank delayed a deal in the same currency and tenor.

    • 15 Mar 2016
  • L-Bank hits screens in dollars ahead of FOMC meeting

    L-Bank is set to print a five year dollar benchmark as investors eagerly await the outcome of this week’s Federal Open Market Committee (FOMC) meeting.

    • 14 Mar 2016

Dealer League Table L-Bank

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 LBBW 539.15 3 19.29%
2 RBC Capital Markets 253.84 1 9.08%
2 Lloyds Banking Group 253.84 1 9.08%
2 Credit Suisse 253.84 1 9.08%
5 Natixis 238.19 1 8.52%

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 12,042.98 14 11.09%
2 JPMorgan 10,337.24 14 9.52%
3 Citi 9,260.37 15 8.53%
4 NatWest Markets 8,487.83 7 7.82%
5 HSBC 7,587.14 11 6.99%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 26,776.92 63 12.44%
2 HSBC 20,140.01 43 9.35%
3 JPMorgan 18,140.98 43 8.43%
4 Deutsche Bank 17,160.97 23 7.97%
5 Bank of America Merrill Lynch 15,557.62 48 7.23%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 21,798.45 41 8.65%
2 Barclays 19,533.57 31 7.75%
3 UniCredit 16,899.52 41 6.71%
4 HSBC 16,634.15 52 6.60%
5 BNP Paribas 16,072.48 29 6.38%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 47,446.91 159 7.44%
2 JPMorgan 47,437.50 217 7.44%
3 HSBC 42,376.03 145 6.64%
4 Barclays 36,659.08 110 5.75%
5 Deutsche Bank 34,770.24 92 5.45%