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
  • 23 May 2016
1 Bank of America Merrill Lynch 61,073.97 197 6.55%
2 JPMorgan 60,854.21 202 6.53%
3 Citi 54,358.91 201 5.83%
4 Deutsche Bank 47,541.47 146 5.10%
5 Barclays 45,823.37 152 4.92%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 May 2016
1 Deutsche Bank 13,122.85 38 3.97%
2 Bank of America Merrill Lynch 11,385.13 32 3.44%
3 BNP Paribas 11,254.76 46 3.40%
4 Citi 11,205.01 39 3.39%
5 SG Corporate & Investment Banking 11,172.07 49 3.38%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 24 May 2016
1 Deutsche Bank 4,315.54 21 11.96%
2 Goldman Sachs 4,022.47 17 11.15%
3 Citi 3,554.32 10 9.85%
4 Barclays 2,858.46 14 7.93%
5 JPMorgan 2,260.35 14 6.27%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 May 2016
1 JPMorgan 11,660.94 74 11.64%
2 Bank of America Merrill Lynch 10,629.58 63 10.61%
3 Citi 9,139.72 53 9.12%
4 Barclays 9,054.87 52 9.04%
5 Goldman Sachs 8,537.29 52 8.52%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 24 May 2016
1 Deutsche Bank 14,052.22 27 7.23%
2 Barclays 11,937.74 27 6.15%
3 BNP Paribas 11,757.87 38 6.05%
4 Citi 10,916.32 37 5.62%
5 SG Corporate & Investment Banking 10,831.33 42 5.58%