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
  • 26 Sep 2016
1 Bank of America Merrill Lynch 117,559.29 446 6.40%
2 JPMorgan 111,827.51 442 6.09%
3 Citi 98,476.57 400 5.36%
4 Deutsche Bank 81,615.02 306 4.45%
5 Barclays 80,736.71 307 4.40%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Sep 2016
1 BNP Paribas 19,899.18 89 7.93%
2 Deutsche Bank 18,875.22 64 7.52%
3 Bank of America Merrill Lynch 17,051.36 58 6.79%
4 Barclays 15,424.93 54 6.15%
5 SG Corporate & Investment Banking 15,117.59 75 6.02%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 27 Sep 2016
1 Deutsche Bank 14,498.54 102 8.95%
2 JPMorgan 12,096.76 87 7.47%
3 Goldman Sachs 11,582.48 76 7.15%
4 Barclays 11,250.50 70 6.95%
5 Citi 10,901.13 54 6.73%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Sep 2016
1 JPMorgan 22,053.45 171 10.75%
2 Bank of America Merrill Lynch 20,324.19 141 9.91%
3 Barclays 17,795.18 110 8.67%
4 Citi 17,522.90 127 8.54%
5 Deutsche Bank 17,333.36 103 8.45%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Sep 2016
1 BNP Paribas 23,100.71 84 6.83%
2 Deutsche Bank 20,691.09 55 6.12%
3 Barclays 20,516.32 56 6.07%
4 Citi 18,079.39 66 5.35%
5 HSBC 17,156.12 72 5.08%