France in the news

  • FMO debuts in Uzbek som, SSAs go ultra-long in euros

    The Netherlands Development Finance Company (FMO), made its Uzbekistani som debut this week to take advantage of funds flowing into EM currencies thanks to low rates in dollars. Elsewhere, euro investors are looking at the ultra-long end of the SSA market.

    • 06 Sep 2019
  • MTNs slip through as public market resumes

    Issuance is starting to resume after the summer break; however, this week a booming public market drew away investor and issuer attention from MTNs. Despite this, a range of established SSA, FIG and corporate borrowers have slipped in, with deals across core, niche and EM currencies.

    • 30 Aug 2019
  • Funding scorecard: French agencies

    This week's funding scorecard looks at the progress French agencies have made in their funding programmes as we reach the end of August.

    • 27 Aug 2019
  • SNCF brings century bond

    SNCF Réseau steamed ahead with a new century bond issue this week, its second and largest deal to date, amid declining rates that has seen more and more investors take a risk at the ultra-long end in return for yield pick-up.

    • 08 Aug 2019
  • World Bank floats in Hong Kong dollars for the first time since 2009

    The World Bank placed its first Hong Kong dollar deal of its 2019/2020 funding year last week. The supranational chose to link the private placement to the Hibor benchmark, a now little seen structure that was likely the result of a "very specific enquiry", according to one MTN banker away from the deal.

    • 29 Jul 2019
  • CDC sells ‘tightest ever’ Samurai

    Caisse des Dépôts et Consignations has returned to the Samurai market with what the issuer and leads said was the lowest ever coupon in the format.

    • 25 Jul 2019
  • MTN investors opt for the ‘familiar’

    A cavalcade of “familiar names” have come to the market over the last week. SSAs, corporates and FIG issuers printed across the euro curve, while a trio of supranationals were also active in emerging market currencies.

    • 23 Jul 2019
  • Bpifrance EUR750m 0.625% May 26 tap

    • 04 Jul 2019
  • AFD EUR2bn 0.25% Jun 29

    • 27 Jun 2019
  • AFD’s funding needs to reach €10bn by 2022

    Agence Française de Développement (AFD)’s annual borrowing programme is expected to rise sharply in the coming years as a result of increased lending to developing countries.

    • 27 Jun 2019
  • France’s Voltalia to raise equity capital with EBRD backing

    Voltalia, the French renewable power producer, has launched a €376m rights issue to finance increased capacity, and has won a new investor in the European Bank for Reconstruction and Development (EBRD).

    • 27 Jun 2019
  • AFD breaks euro size record

    Investors poured into Agence Francaise de Developpement (AFD)’s 10 year euro benchmark on Tuesday, allowing the French agency to issue its largest ever trade in the currency.

    • 25 Jun 2019
  • AFD cuts lone figure as SSAs adjust to negative yield environment

    Agence Francaise de Développement was the only public sector borrower to mandate banks for a new benchmark bond on Monday, as squeezed yields cause issuers to hold off from the primary market.

    • 24 Jun 2019
  • Swedish krona prepares for midsummer break

    Issuance in Swedish kronor picked up this week, with three corporate issuers placing Skr6.28bn ($667.9m) across four private placements, as issuers looked to get in ahead of the midsummer break. In euros, a Dutch and French agency both placed paper, while protests in Hong Kong caused yields to spike in offshore Chinese renminbi and Hong Kong dollars.

    • 20 Jun 2019
  • French agencies get the green light

    A pair of French agencies hit screens with new SRI notes this week. On Wednesday, Caisse des Dépôts et Consignations came to market with its debut sustainable bond, the first under a new green, social and sustainable framework. And on Thursday, Régie Autonome des Transports Parisiens steamed in with its second ever green bond.

    • 13 Jun 2019

Dealer League Table France

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 1,541.81 1 20.00%
1 JPMorgan 1,541.81 1 20.00%
1 HSBC 1,541.81 1 20.00%
1 Credit Agricole CIB 1,541.81 1 20.00%
1 BNP Paribas 1,541.81 1 20.00%

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%