Russian LPN tax could derail Eurobond train

A new withholding tax suggested by Russia’s deputy finance minister Sergei Shatalov in a letter to the Russian Federal Tax Service could make Eurobond issuance much less attractive to Russian companies.

  • 03 Feb 2012

The suggestion involves a 20% withholding tax levied on interest payments on Russian Eurobonds issued via SPVs registered in foreign jurisdictions.

The proposal, reported by local media and now the subject of discussion among analysts, would hit the loan participation note structure, which uses such an SPV to take ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Jul 2016
1 Bank of America Merrill Lynch 85,357.26 302
2 JPMorgan 83,566.68 302
3 Citi 73,987.37 292
4 Deutsche Bank 61,532.58 210
5 Barclays 59,732.29 221

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Jul 2016
1 BNP Paribas 14,516.27 67 3.56%
2 Deutsche Bank 14,101.80 45 3.46%
3 Bank of America Merrill Lynch 13,644.72 41 3.35%
4 SG Corporate & Investment Banking 12,853.37 61 3.16%
5 Citi 12,614.17 46 3.10%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 26 Jul 2016
1 Goldman Sachs 4,963.81 24 5.61%
2 Deutsche Bank 4,900.09 29 5.54%
3 Citi 3,603.80 11 4.07%
4 Barclays 2,980.55 17 3.37%
5 BNP Paribas 2,506.56 26 2.83%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jul 2016
1 JPMorgan 16,570.16 112
2 Bank of America Merrill Lynch 14,670.75 93
3 Citi 13,217.68 86
4 Goldman Sachs 13,006.56 80
5 Barclays 11,662.09 72

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 26 Jul 2016
1 Deutsche Bank 15,017.11 35 3.13%
2 BNP Paribas 14,498.91 57 3.02%
3 Barclays 13,463.46 36 2.81%
4 Citi 12,598.11 47 2.63%
5 SG Corporate & Investment Banking 12,595.37 55 2.63%