Desperate Venezuela defaults to Russia amid bond fire sale

Venezuela and state oil and gas firm PDVSA bonds tumbled this week as the government missed a payment on a loan to Russia, continued to seek new funds at what one analyst called “loan shark” rates, and was dealt a further blow as oil prices slumped.

  • By Oliver West
  • 08 Jun 2017

One trader said bonds fell anywhere from 2.5 to seven points across the curve on Wednesday and Thursday as a perfect storm of events hit Venezuela.

It emerged this week that Russia’s Audit Committee’s review of changes to the 2017 budget showed that Venezuela had failed to honour ...

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Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Jun 2017
1 Citi 39,894.04 173 10.72%
2 HSBC 34,708.71 193 9.32%
3 JPMorgan 31,800.31 141 8.54%
4 Deutsche Bank 19,209.90 71 5.16%
5 Standard Chartered Bank 18,500.03 115 4.97%

Bookrunners of LatAm Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 14,063.16 33 19.48%
2 HSBC 8,309.34 20 11.51%
3 JPMorgan 7,938.35 30 11.00%
4 Bank of America Merrill Lynch 5,901.26 23 8.18%
5 Morgan Stanley 5,392.54 19 7.47%

Bookrunners of CEEMEA International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Jun 2017
1 JPMorgan 14,378.88 55 12.76%
2 Citi 13,699.88 48 12.16%
3 HSBC 9,441.88 45 8.38%
4 Deutsche Bank 7,434.85 17 6.60%
5 Standard Chartered Bank 6,792.43 31 6.03%

EMEA M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 JPMorgan 195.08 50 10.55%
2 Goldman Sachs 162.26 37 8.77%
3 Morgan Stanley 141.22 46 7.64%
4 Bank of America Merrill Lynch 114.20 33 6.18%
5 Citi 95.36 35 5.16%

Bookrunners of Central and Eastern Europe: Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 ING 1,682.62 13 9.41%
2 SG Corporate & Investment Banking 1,407.51 12 7.87%
3 UniCredit 1,246.63 9 6.97%
4 Bank of America Merrill Lynch 1,086.95 7 6.08%
5 Credit Suisse 841.27 6 4.71%

Bookrunners of India DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 AXIS Bank 7,171.96 97 21.89%
2 Trust Investment Advisors 3,731.80 96 11.39%
3 ICICI Bank 2,712.94 75 8.28%
4 Standard Chartered Bank 2,518.53 27 7.69%
5 HDFC Bank 2,025.58 55 6.18%