France in the news

  • Cades lining up for €4bn in 2020

    Caisse d’Amortissement de la Dette Sociale has a €4bn funding programme lined up for 2020, matching the total it raised in 2019.

    • 13 Jan 2020
  • Dealers turn to specialisation as MTN volumes slide

    Specialisation could define MTNs in 2020 as the market looks to differentiate itself from public markets where borrowers are easily executing large, cheap, liquid benchmarks. MTN dealers’ change of focus is shaking up the league tables. Frank Jackman reports

    • 13 Dec 2019
  • What does not kill Swiss franc bonds makes them stronger

    The Swiss franc bond market has been able to withstand — just — the destructive forces of negative rates and yields and is looking forward to a new year in which green structures are set to blossom. Philip Moore reports

    • 13 Dec 2019
  • Morgan Stanley fined by AMF over govvie manipulation

    Morgan Stanley has been fined €20m by the Autorité des Marchés Financiers (AMF) for manipulation of French and Belgian government bond prices. The bank intends to appeal the fine.

    • 10 Dec 2019
  • French agency duo wrap up 2019 funding below target

    Two French public sector agencies have closed their borrowing programmes for the year below their planned size, with one agency cutting short its funding by almost a third.

    • 25 Nov 2019
  • Funding scorecard: French agencies

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

    • 25 Nov 2019
  • UK grabs £2.25bn as CDC makes sterling return

    The sterling public sector bond market was alive on Tuesday as the UK sold the penultimate syndication of its financial year and Caisse des Dépôts et Consignations returned to the currency for the first time since January 2018.

    • 19 Nov 2019
  • CDC heads to sterling short end as DMO lines up

    France’s Caisse des Dépôts et Consignations is preparing to make a rare appearance in the sterling market for a two year fixed rate trade.

    • 18 Nov 2019
  • Action Logement Services aims to build curve and eyes PPs

    After making its debut in the capital markets last week, France’s Action Logement Services (ALS) plans to issue bonds and private placements across various maturities under its 100% sustainable euro medium-term note (EMTN) programme.

    • 29 Oct 2019
  • ESM opts for short end, French agency set for debut benchmark

    The European Stability Mechanism has chosen a five year tenor to kick off its funding for the fourth quarter. Meanwhile, a French public sector agency is out with its debut sustainable benchmark bond.

    • 21 Oct 2019
  • SFIL capital transfer to CDC moves closer with ‘agreement in principle’

    The French government, Caisse des Dépôts and La Banque Postale have signed an agreement in principle for the transfer of the majority of Société de Financement Local’s capital to Caisse des Dépôts.

    • 14 Oct 2019
  • Funding scorecard: French agencies

    This week's funding scorecard looks at the progress French agencies have made in their funding programmes at the start of the fourth quarter.

    • 11 Oct 2019
  • France to boost bond issuance in 2020

    Agence France Trésor, the French sovereign debt office, has announced that it will increase its issuance of government bonds next year, which is partly being driven by the absorption of some of SNCF Réseau’s debt.

    • 30 Sep 2019
  • SNCF green-lights 2047 tap

    French agency SNCF Réseau steamed on to screens on Tuesday with initial pricing thoughts for a tap of its December 2047 green bond.

    • 24 Sep 2019
  • FMO debuts in bolivianos to extend exotic run

    The Netherlands Development Finance Company debuted the first offshore Bolivian boliviano bond last Friday. Meanwhile on Monday, French agency Caisse des Dépôts et Consignations again returned to the ultra-long end to place a pair of callable euro notes.

    • 17 Sep 2019

Dealer League Table France

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 SG Corporate & Investment Banking 1.54 1 20.00%
1 JPMorgan 1.54 1 20.00%
1 HSBC 1.54 1 20.00%
1 Credit Agricole CIB 1.54 1 20.00%
1 BNP Paribas 1.54 1 20.00%

European Sovereign Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 4.50 6 12.56%
2 Citi 4.15 4 11.60%
3 HSBC 3.01 4 8.41%
4 BNP Paribas 2.90 4 8.09%
5 Credit Agricole CIB 2.59 2 7.23%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 8.08 12 21.12%
2 BMO Capital Markets 3.66 4 9.57%
3 TD Securities Inc 3.55 4 9.27%
4 Goldman Sachs 3.13 6 8.18%
5 Barclays 2.76 4 7.20%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 6.96 8 9.24%
2 BofA Securities 6.24 12 8.28%
3 Barclays 5.58 8 7.41%
4 UniCredit 5.40 13 7.17%
5 BNP Paribas 5.23 8 6.94%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 14.01 19 10.85%
2 JPMorgan 9.21 15 7.13%
3 Barclays 9.02 15 6.99%
4 BofA Securities 8.60 18 6.66%
5 Goldman Sachs 7.80 14 6.04%