Latest sovereign news

  • Belgium targets two OLO benchmarks in 2019

    Belgium is planning to issue two new fixed rate OLO benchmarks next year — a 10 year and a long term bond with a minimum maturity of 15 years, the sovereign’s debt agency said on Wednesday.

    • 03:00 PM
  • Buy-side wary of ‘Corbyn premium’ in Gilts as May fights for future

    UK government bonds have been playing their traditional role as a haven trade for sterling investors amid the Brexit inspired turmoil of the last 2.5 years. But one possible outcome, the likelihood of which has grown this week — a Labour Party victory in a general election — could push up Gilt yields because of what investors have dubbed the ‘Corbyn premium’.

    • 12:00 PM
  • Hungary mandates for second Panda, doubles size

    Hungary is planning to sell a Rmb2bn ($290m) three year Panda bond next Monday, becoming the first and only sovereign returnee to the market.

    • 08:00 AM
  • Thirteen sovereigns face first redemptions as refi costs rise

    Thirteen emerging market sovereigns will face their first bond market redemptions over the next seven years and, with financing conditions set to become more difficult, market participants are watching them carefully.

    • 10 Dec 2018
  • Italy ‘finalising plans’ for dollar return in 2019

    Italy is preparing to make its highly anticipated return to the dollar market next year. The sovereign had planned to issue a dollar syndication in 2018, as first revealed by GlobalCapital, but postponed due to the volatility in the Italian bond market.

    • 10 Dec 2018
  • Italy shows market access despite BTP volatility

    Italy found strong demand for a surprise syndicated tap on Thursday — despite a fresh and steep sell-off across its curve throughout the day — proving the peripheral sovereign had access to the capital markets even during extremely difficult conditions.

    • 06 Dec 2018
  • UK picks next syndication as Gilt yields rally amid Brexit confusion

    The UK Debt Management Office has chosen the tenor for the final syndication of its 2018-2019 financial year, as Gilt yields rallied this week amid confusion over how the UK will eventually leave the European Union.

    • 06 Dec 2018
  • ESM eases, Portugal does exchange

    The European Stability Mechanism has softened the eligibility criteria for its precautionary credit lines, under a eurozone reform package sealed by the European Union on Tuesday.

    • 06 Dec 2018
  • $2tr EM maturity wall looms as markets worsen

    The party looks to be over in emerging market bonds leaving borrowers with one heck of a funding hangover. Years of low rates have prompted a debt splurge from borrowers able to fund at ever lower coupons. But just as dollar rates are on the increase, those credits are racing towards a $2tr maturity wall and the problem of how to refinance it in a market that has presented clear symptoms of risk fatigue this year shows no sign of abating. Lewis McLellan and Francesca Young report.

    • 06 Dec 2018
  • Italy surprises market with syndicated bond exchange

    Italy carried out a syndicated buyback alongside a reopening of its October 2021 issue on Thursday, despite a steep sell-off in the sovereign’s curve throughout the day.

    • 06 Dec 2018
  • Mizuho cuts in DCM and syndicate

    Mizuho International, the London securities and investment banking arm of the Japanese banking group, has cut jobs in its capital markets business over the past week, and among those leaving is a senior DCM banker.

    • 06 Dec 2018

Sovereign news archive

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 16,575.88 26 9.55%
2 Barclays 15,585.79 20 8.98%
3 Citi 15,428.98 26 8.89%
4 HSBC 12,009.31 18 6.92%
5 BNP Paribas 11,235.58 17 6.48%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 44,056.07 119 12.30%
2 HSBC 30,286.67 79 8.45%
3 JPMorgan 30,034.04 86 8.38%
4 Bank of America Merrill Lynch 28,240.51 84 7.88%
5 Goldman Sachs 26,424.73 60 7.38%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 35,494.64 97 7.67%
2 HSBC 33,049.47 129 7.14%
3 UniCredit 32,836.18 95 7.10%
4 Barclays 32,248.82 64 6.97%
5 BNP Paribas 27,773.05 69 6.00%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 81,546.47 289 6.83%
2 JPMorgan 78,905.10 458 6.61%
3 HSBC 75,168.54 308 6.30%
4 Barclays 61,509.86 242 5.15%
5 Deutsche Bank 54,387.29 174 4.55%