France in the news

  • Funding scorecard: French agencies

    This week's funding scorecard looks at the progress French agencies have made in their funding programmes in November.

    • 23 Nov 2020
  • SFIL prices inside fair value with debut green bond

    Société de Financement Local (SFIL) was over 5-1/2 times covered as it brought its long-awaited debut green bond to the market on Friday, allowing it to price well inside fair value.

    • 13 Nov 2020
  • CDC finishes public funding in Swissies

    French agency Caisse des Dépôts et Consignations finished its 2020 syndicated funding programme with a visit to the Swiss market this week, printing an extremely tight deal through the high quality domestic covered bond curve.

    • 12 Nov 2020
  • French borrowers lead way in euros

    The euro SSA market was dominated by French issuers this week, with borrowers working swiftly to finish off their enlarged 2020 funding programmes once the EU had cleared the decks.

    • 12 Nov 2020
  • Unédic out for 10 year money

    Unédic, the French unemployment agency, will look to complete its €15bn funding programme on Thursday, coming to market in the footsteps of the EU’s second outing.

    • 11 Nov 2020
  • French SSA borrowers lining up in EU’s wake

    Unédic and Caisse d'Amortissement de la Dette Sociale (Cades) still have sizeable amounts of funding to raise before the end of the year and, with only a few weeks remaining, will look to issue after the EU clears the decks this week.

    • 09 Nov 2020
  • Swiss franc November pipeline builds

    A pipeline of deals is building in the Swiss franc bond market for when the US election is concluded. Among those circling the market is Caisse des Dépôts et Consignations, which could finish its 2020 funding with a public benchmark.

    • 05 Nov 2020
  • Ile-de-France Mobilités lining up euro benchmark

    Ile-de-France Mobilités is coming to market for a 15 year euro benchmark, set to become one of several French borrowers expected before the end of the year.

    • 30 Oct 2020
  • AFD EUR2bn Oct 27 sustainable bond

    • 22 Oct 2020
  • AFD mandates for inaugural sustainable bond as Greece lines up tap

    Two public sector borrowers will follow the EU’s record breaking success in the euro market on Wednesday, with Agence Française de Développement looking to sell its debut bond under its new framework tied to the UN's Sustainable Development Goals (SDGs) and Greece tapping its 2035s.

    • 20 Oct 2020
  • Euro SSA market strong ahead of EU arrival

    It was a moderate week for supply in the primary euro public sector bond market but the issuers that did come found ample demand, setting up a decent backdrop for the expected arrival of the European Union’s big borrowing programme next week.

    • 15 Oct 2020
  • CEB begins pre-funding for 2021

    The Council of Europe Development Bank (CEB) took advantage of a strong market on Wednesday to issue its first ever benchmark transaction for pre-funding purposes.

    • 15 Oct 2020
  • Cades preps second dollar social bond

    Caisse d’Amortissement de la Dette Sociale (Cades) will add a new point on its dollar social bond curve with a 10 year trade on Wednesday, where it will be joined by two other public sector issuers in the currency.

    • 13 Oct 2020
  • KfW and Paris score in quiet euro SSA market ahead of EU’s arrival

    KfW and Ville de Paris grabbed the attention of investors at the opposite ends of the euro curve on Tuesday in what has been a thin week for issuance in the currency by public sector borrowers ahead of the expected arrival of the EU’s first syndicated bond under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme next week.

    • 13 Oct 2020
  • SSA secondary pricing update: Land NRW and EFSF trade tighter

    Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, October 12. The source for secondary trading levels is ICE Data Services

    • 13 Oct 2020

Dealer League Table France

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 3.39 3 20.00%
2 HSBC 1.87 2 11.04%
2 Credit Agricole CIB 1.87 2 11.04%
4 SG Corporate & Investment Banking 1.52 1 8.96%
4 NatWest Markets 1.52 1 8.96%

European Sovereign Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 42.49 60 10.43%
2 BNP Paribas 35.95 41 8.82%
3 Citi 29.08 41 7.14%
4 BofA Securities 25.35 63 6.22%
5 Barclays 23.24 40 5.70%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 57.16 137 11.31%
2 JPMorgan 45.74 102 9.05%
3 Goldman Sachs 36.90 61 7.30%
4 HSBC 34.71 99 6.87%
5 BofA Securities 33.03 80 6.54%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 73.75 164 8.76%
2 BNP Paribas 69.32 125 8.23%
3 UniCredit 58.65 137 6.97%
4 Credit Agricole CIB 52.64 119 6.25%
5 HSBC 52.02 159 6.18%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 142.42 400 7.54%
2 Citi 119.77 272 6.34%
3 HSBC 104.37 337 5.53%
4 BofA Securities 93.97 250 4.98%
5 BNP Paribas 90.48 197 4.79%