Belgium in the news
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France and Belgium announce 2021 funding
France and Belgium announced borrowing programmes for 2021 this week. France is aiming for the same amount as this year, while Belgium is paring back its needs.
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Belgium lines up 2021 borrowing
The Belgian debt agency has announced its borrowing for 2021, reducing its requirements relative to the amount it has raised in 2020 — although it is a sharp increase relative to the amount it planned to raise this year before the pandemic hit.
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Wallonia, Cades bring what may be year's last SSA benchmarks
Two public sector borrowers hit the euro bond market on Wednesday, raising what might well be the final benchmark funding of 2020.
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Belgium cuts 2020 funding requirement
The Belgian debt agency has reduced its gross borrowing needs for 2020 by almost €10bn, with the sovereign’s OLO issuance also expected to be less than previously forecast.
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EFSF hits screens with dual tranche, big size expected
The European Financial Stability Facility mandated banks on Monday to lead a euro dual tranche transaction in what could be the issuer’s first and final outing of the fourth quarter.
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CFB busy in MTNs after seven months away
Communauté Française de Belgique returned in mid-August after a seventh month absence to print a slew of deals for a combined €404m, according to Dealogic.
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Bank of China (Djibouti) debuts in MTNs
Bank of China sold its first ever bond out of its Djibouti branch on Monday, as Chinese issuers pour into capital markets to make up for time lost to the coronavirus pandemic.
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Austria and Belgium rumoured for syndications
Austria and Belgium could bring syndicated transactions as early as next week, according to SSA bankers, after both sovereigns recently announced bigger funding programmes in response to the coronavirus pandemic.
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Belgium revises 2020 funding plan but keeps eye on SURE
The Belgian debt agency has made an upward revision to its funding programme for the year after a re-examination of the impact of the coronavirus pandemic. But the sovereign is closely watching the progress of the European Commission’s Support to mitigate Unemployment Risks in an Emergency (SURE) fund, which would result in lower borrowing from the market.
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Flemish Community plans dual tranche as public finances take hit from Covid-19
The Flemish Community has mandated banks to arrange the sale of new seven and 30 year bonds as the Belgian sub-sovereign looks to pump in cash to finance a budget deficit which has arisen from the coronavirus pandemic.
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France smashes 20 year as demand heats up in long end
France impressed as it received a record €51bn order book and paid a small new issue premium with its first syndication since the outbreak of the Covid-19 pandemic. The sovereign was joined in the long end of the curve this week by two sub-sovereign borrowers as investor appetite for duration grows, with more supply expected to follow.
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Wallonne hits long end with debut social bond as Bpifrance takes size
The Belgian region of Wallonne took advantage of the growing demand in the long end of the curve to sell its first social bond on Thursday, although it had to pay a chunky new issue premium to do so. Elsewhere, Bpifrance received plenty of demand to print €1.25bn with a 10 year trade.
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France breaks book record as SSA investors seek duration
France received its biggest ever order book as it came to the market for a 20 year syndication on Tuesday. SSA bankers say that investors are looking for duration after previously sticking to defensive maturities as the Covid-19 crisis eases.
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Belgium USD1.5bn 1% May 30
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Dollars keeps centre stage in SSA primary
Dollars was the favoured currency for public sector borrowers for the second week running this week, giving attractive funding conditions for euro borrowers amid strong investor demand, particularly in the 10 year part of the curve.
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Belgium returns to dollars as AIIB and NWB ready SRI bonds
Belgium took advantage of more attractive funding conditions in dollars versus euros and strong demand at the 10 year point of the curve to sell its first dollar bond since 2017 on Tuesday. SSA supply in dollars will continue on Wednesday with the Asian Infrastructure Investment Bank and Nederlandse Waterschapsbank bringing socially responsible deals.
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Belgium set for dollar return as SSAs seek arb
Belgium is set to issue its first dollar bond since 2017 as euro funders continue to take advantage of the attractive funding conditions in the currency, with three other public sector borrowers also in the market for dollars.
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Belgium and Ireland bump up funding in response to Covid-19
Belgium and Ireland announced increases to their 2020 funding requirements this week, as they look to counter the impact of the coronavirus pandemic.
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Belgium bumps up funding in response to coronavirus
The Belgian Debt Agency has announced an increase to its financing requirements for 2020 in response to the coronavirus pandemic, which will see it borrow an extra €20.41bn.
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SSA secondary pricing update: L-Bank achieves strong performance
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, April 6. The source for secondary trading levels is ICE Data Services.
Dealer League Table Belgium
Rank | Lead Manager | Amount $bn | No of issues | Share % |
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1 | SG Corporate & Investment Banking | 1.49 | 1 | 20.00% |
1 | Natixis | 1.49 | 1 | 20.00% |
1 | JPMorgan | 1.49 | 1 | 20.00% |
1 | Citi | 1.49 | 1 | 20.00% |
1 | BNP Paribas | 1.49 | 1 | 20.00% |
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Bank Profiles
Latest news by market and league table performance
European Sovereign Bonds
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | SG Corporate & Investment Banking | 4.88 | 3 | 16.63% |
2 | HSBC | 3.99 | 3 | 13.59% |
3 | JPMorgan | 3.00 | 3 | 10.22% |
4 | Citi | 2.89 | 2 | 9.85% |
5 | Barclays | 2.33 | 2 | 7.92% |
Dollar Denominated SSA (Excl US Agency)
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | Citi | 7.41 | 12 | 15.37% |
2 | Deutsche Bank | 4.69 | 6 | 9.73% |
3 | JPMorgan | 4.60 | 9 | 9.55% |
4 | BMO Capital Markets | 3.83 | 3 | 7.95% |
5 | BofA Securities | 3.72 | 5 | 7.73% |
Bookrunners of Euro Denominated SSA (Excl US Agency)
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | JPMorgan | 8.94 | 15 | 10.68% |
2 | HSBC | 8.30 | 9 | 9.91% |
3 | SG Corporate & Investment Banking | 7.46 | 7 | 8.91% |
4 | UniCredit | 7.12 | 11 | 8.50% |
5 | Citi | 6.84 | 7 | 8.17% |
Bookrunners of Global SSA (Excl US Agency)
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | Citi | 14.79 | 19 | 9.78% |
2 | JPMorgan | 14.45 | 40 | 9.56% |
3 | HSBC | 12.32 | 18 | 8.15% |
4 | Deutsche Bank | 10.51 | 17 | 6.96% |
5 | SG Corporate & Investment Banking | 9.06 | 9 | 6.00% |