L-Bank in the news

  • Kanga market starts to heat up

    As core markets in the northern hemisphere begin to cool, SSA issuers are looking towards an Australian dollar sector unaffected by the summer close.

    • 25 Jul 2019
  • L-Bank USD2bn 2% Jul 24

    • 18 Jul 2019
  • Dollars provide big SSA firsts but trouble stirs

    L-Bank issued its biggest single bond in dollars this week while the Inter-American Development Bank (IADB) printed its first ever dual tranche trade in the currency. But some market participants warned that the good times at the short end of the dollar curve might be coming to an end.

    • 18 Jul 2019
  • Dollar investors offer mixed receptions to SSA trio

    SSA names found the going varied in dollars on Tuesday, with the Inter-American Development Bank only just covering the minimum size of its tightly priced short end trade while Land NRW and L-Bank saw chunkier demand.

    • 16 Jul 2019
  • SSA names hit dollars in force

    A trio of issuers burst into the sovereign, supranational and agency dollar market on Monday, as syndicate officials say they have been pleasantly surprised by how quickly the sector bounced back after a tricky period.

    • 15 Jul 2019
  • Favourable spreads offer SSA MTN sterling spree

    Three SSA borrowers issued a total of £200m ($255m) of medium-term notes in response to an inquiry for three year non-call one fixed rate sterling bonds on Tuesday — which probably all sold to the same buyer — amid an uptick of paper in the currency.

    • 13 Jun 2019
  • L-Bank USD1.5bn 2.375% Apr 21

    • 11 Apr 2019
  • Issuer calls on peers to stop ‘greed’ during bond executions

    Issuers are showing the same kind of “greed” they did in the run-up to the global financial crisis, according to a fiery call to arms to treat investors better from a European agency funding official.

    • 11 Apr 2019
  • L-Bank and Manitoba keep dollar wheels turning

    L-Bank and the Province of Manitoba kept the dollar SSA market busy on Tuesday, launching deals totalling $2.5bn.

    • 09 Apr 2019
  • L-Bank keeps SSA dollar trickle going

    The dollar sovereign, supranational and agency primary market has kicked off the week with an L-Bank mandate, as bankers continue to see little more than sporadic European SSA issuance in the currency in the weeks ahead.

    • 08 Apr 2019
  • Dollar pipe builds after L-Bank’s trailblazing Reg S Sofr floater

    Dollar SSA issuance is expected to pick up next week, thanks to a change in the euro/dollar basis swap that is making issuance in the currency more attractive for euro funders. There was still a smattering of dollar trades this week, including a Sofr-linked floater that broke new ground for the format.

    • 07 Mar 2019
  • L-Bank USD500m FRN Mar 22

    • 07 Mar 2019
  • L-Bank brings Reg S only Sofr trailblazer

    L-Bank on Tuesday became the first SSA issuer to sell a Sofr-linked floating rate note with Reg S only documentation. The $500m no-grow deal had over $600m of orders, with $125m of those coming from the leads — which said any stock they were left with would be useful for providing paper to investors looking to test their Sofr systems in the coming weeks and months.

    • 05 Mar 2019
  • L-Bank opts for threes in Sofr Reg S first as JFM joins in dollars

    L-Bank is set to bring the first ever Reg S only Sofr-linked bond on Tuesday. The German agency will be joined in the dollar SSA market by Japan Finance Organization for Municipalities, which has picked banks for its first benchmark of the calendar year.

    • 04 Mar 2019
  • L-Bank lines up for world’s first Reg S Sofr

    L-Bank will go on the road to promote the first ever Reg S dollar benchmark priced over the dollar risk free rate, Sofr.

    • 21 Feb 2019
  • L-Bank tries new dollar format as Sweden squeezes

    L-Bank will go on the road to promote the first ever Reg S dollar benchmark priced over the dollar risk free rate Sofr.

    • 21 Feb 2019
  • SSAs tipped to focus on dollar threes after ‘much needed’ Chinese holiday

    Conditions for public sector dollar issuers held firm this week after an excellent start to the year, although deals were thinner on the ground thanks to a US Federal Open Market Committee meeting. Chinese New Year holidays next week will give the sector a much needed breather — after which three-years might move more into vogue than fives, said SSA bankers.

    • 31 Jan 2019
  • L-Bank USD1bn 2.625% Feb 22

    • 31 Jan 2019
  • L-Bank collects $1bn with skinny premium

    L-Bank’s first dollar benchmark of the year was in keeping with a trend in the currency so far this year for oversubscribed deals with low concessions, as leads calculated a 1bp new issue premium for the deal.

    • 30 Jan 2019
  • Some SSAs ‘avoid dollar vol’, but KBN breezes through and others follow

    Kommunalbanken took advantage of being the sole SSA issuer in dollars on Tuesday as it was more than twice subscribed and tightened pricing on its first dollar benchmark of the year. Concerns over volatility from this week’s US Federal Open Market Committee meeting and non-farm payrolls kept some other issuers on the sidelines, said SSA bankers — although two are braving Wednesday’s market.

    • 29 Jan 2019

Dealer League Table L-Bank

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 LBBW 998.32 8 17.50%
2 ING 410.86 3 7.20%
3 Natixis 288.92 2 5.07%
4 HSBC 279.45 3 4.90%
5 UniCredit 256.60 2 4.50%

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 17,683.39 29 10.66%
2 Citi 13,595.38 21 8.19%
3 Goldman Sachs 12,302.04 22 7.41%
4 HSBC 12,224.45 15 7.37%
5 BNP Paribas 11,306.61 19 6.81%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 30,035.14 74 11.43%
2 JPMorgan 28,857.73 75 10.98%
3 HSBC 18,795.39 47 7.15%
4 Barclays 17,883.71 42 6.80%
5 Bank of America Merrill Lynch 16,023.83 61 6.10%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 34,680.26 81 9.38%
2 BNP Paribas 25,099.76 62 6.79%
3 Credit Agricole CIB 24,029.17 65 6.50%
4 Goldman Sachs 23,977.03 51 6.48%
5 UniCredit 23,539.60 68 6.36%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 72,657.14 349 7.87%
2 Citi 56,982.66 177 6.17%
3 HSBC 54,638.28 218 5.92%
4 Barclays 47,859.89 169 5.18%
5 Bank of America Merrill Lynch 40,445.49 149 4.38%