Latest Sub-sovereigns news

  • SRI takes centre stage in SSA

    Socially responsible investment deals were the focus of attention in the primary SSA market this week, as the World Bank and the Flemish Community of Belgium sold well-received green and sustainability bonds, respectively. Bank Nederlandse Gemeenten and Eurofirma have added to the public sector SRI pipeline, which is showing no signs of slowing down as the year end approaches.

    • 15 Nov 2018
  • UK councils flirt with US PP funding

    A large UK council has held discussions with a selection of US private placement (US PP) arrangers over the possibility of raising more than £200m in a single issue, according to a senior banker familiar with the situation.

    • 15 Nov 2018
  • Flemish Community scoops up SRI demand, BNG lines up

    The Flemish Community of Belgium was twice covered for its debut sustainability bond on Monday, following the completion of a pan-European roadshow last week. Meanwhile, Bank Nederlandse Gemeenten has added to the SRI pipeline after mandating banks for its second sustainability trade of the year.

    • 12 Nov 2018
  • EFSF rounds out year with solid trade but euro mart ‘tired’

    The European Financial Stability Facility finished off its 2018 issuance this week with what was likely the last jumbo euro benchmark of the year. The deal was solid, but SSA bankers warned the euro market feels “tired”.

    • 08 Nov 2018
  • Land NRW tightens price on euro 10 year

    The State of North Rhine-Westphalia rounded out the week’s euro issuance with an oversubscribed 10 year euro deal that was priced 1bp inside guidance.

    • 08 Nov 2018
  • Brexit barriers could impact Sonia, says BoE group

    The sterling overnight index average (Sonia), the rate chosen to replace sterling Libor by regulators, may suffer from a “bifurcation of… sterling money markets” after Brexit, according to a Bank of England Sonia Oversight Committee.

    • 08 Nov 2018
  • BondMarker: Alberta outdoes EIB in dollar fives battle

    The Province of Alberta pipped the European Investment Bank to the top score of the week in BondMarker, with both issuers printing five year dollar globals.

    • 06 Nov 2018
  • Mozambique bonds soar on restructuring deal package

    The Republic of Mozambique said on Tuesday that it had reached an agreement in principle with bondholders on a restructuring of its $726.5m 10.5% 2023s, which defaulted two years ago.

    • 06 Nov 2018
  • KfW sparkles in euros but ‘jury out’ on whether others can

    A megayacht of a trade from KfW this week suggested that potential headwinds — including the end of quantitative easing, Italy’s reckoning with the European Commission and Angela Merkel’s plan to step away from politics — are failing to sink sentiment in the euro market. But some SSA bankers warned that the trade was more just proof that KfW can float in these conditions — and that an upcoming deal for the European Financial Stability Facility (EFSF) will be a better buoy for the sector’s currents.

    • 01 Nov 2018
  • KfW gets huge euro demand, Hamburg extends curve

    KfW received a final book of over €12bn for a five year euro benchmark on Tuesday, while the City of Hamburg closed out its funding for the year with its longest outstanding bond. Finnvera will add to the euro SSA supply this week, after mandating banks for a short 10 year that is likely to be its final syndication of the year.

    • 30 Oct 2018

Sub-sovereigns news archive

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 16,032.07 25 9.77%
2 Barclays 15,041.98 19 9.17%
3 Citi 13,795.56 24 8.41%
4 HSBC 11,845.99 17 7.22%
5 BNP Paribas 10,802.75 16 6.58%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 39,984.80 109 11.89%
2 JPMorgan 29,288.84 79 8.71%
3 HSBC 28,443.59 72 8.46%
4 Bank of America Merrill Lynch 27,301.17 79 8.12%
5 Goldman Sachs 24,436.35 54 7.27%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 35,503.26 95 8.03%
2 HSBC 31,898.18 113 7.22%
3 Barclays 31,737.51 60 7.18%
4 UniCredit 30,989.16 83 7.01%
5 BNP Paribas 27,189.65 67 6.15%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 77,286.41 442 6.86%
2 Citi 76,173.45 276 6.76%
3 HSBC 71,815.20 281 6.37%
4 Barclays 59,526.84 228 5.28%
5 Deutsche Bank 51,842.99 164 4.60%