Hopes of PDVSA payment crumble as CDS trigger looms

Holders of PDVSA’s 2017 bonds were suddenly filled with dread by Tuesday’s close as rumours of the overdue maturity payment being made could not be confirmed. Its credit default swap price worsened on the expectation a credit event would be declared.

  • By Oliver West
  • 08 Nov 2017

As investors and analysts have tried to digest last Thursday’s announcement by Venezuelan president Nicolás Maduro that he would restructure all the country’s debt, the $1.169bn PDVSA maturity payment due on that day initially slipped somewhat under the radar.

Indeed, during that same speech Maduro had said — to ...

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Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 61,791.92 290 9.57%
2 HSBC 59,948.24 329 9.29%
3 JPMorgan 56,039.50 241 8.68%
4 Deutsche Bank 29,969.45 124 4.64%
5 Standard Chartered Bank 26,397.78 195 4.09%

Bookrunners of LatAm Emerging Market DCM

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1 Citi 18,874.63 54 14.39%
2 JPMorgan 15,571.64 55 11.87%
3 HSBC 15,451.13 39 11.78%
4 Bank of America Merrill Lynch 11,490.31 44 8.76%
5 Santander 11,398.01 43 8.69%

Bookrunners of CEEMEA International Bonds

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1 JPMorgan 26,680.88 90 13.44%
2 Citi 23,071.09 83 11.62%
3 HSBC 17,587.52 66 8.86%
4 Deutsche Bank 10,117.91 28 5.10%
5 BNP Paribas 10,065.46 30 5.07%

EMEA M&A Revenue

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  • 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 %
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1 ING 3,133.69 26 9.51%
2 UniCredit 2,795.44 20 8.48%
3 Sumitomo Mitsui Financial Group 2,594.98 10 7.87%
4 SG Corporate & Investment Banking 2,301.01 20 6.98%
5 Commerzbank Group 1,584.45 16 4.81%

Bookrunners of India DCM

Rank Lead Manager Amount $m No of issues Share %
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1 AXIS Bank 11,940.85 168 22.85%
2 ICICI Bank 5,375.52 141 10.28%
3 Trust Investment Advisors 5,196.79 148 9.94%
4 Standard Chartered Bank 3,661.93 41 7.01%
5 Yes Bank Ltd 2,545.51 61 4.87%