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
  • 02 May 2016
1 Bank of America Merrill Lynch 44,065.99 145 6.20%
2 JPMorgan 43,970.24 145 6.18%
3 Citi 42,533.98 158 5.98%
4 Deutsche Bank 34,223.78 111 4.81%
5 Barclays 30,369.27 97 4.27%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 May 2016
1 SG Corporate & Investment Banking 9,920.07 40 8.00%
2 Deutsche Bank 9,442.88 27 7.61%
3 Bank of America Merrill Lynch 9,324.74 26 7.52%
4 BNP Paribas 9,081.50 36 7.32%
5 Citi 7,527.89 27 6.07%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 03 May 2016
1 Deutsche Bank 3,708.63 17 13.30%
2 Goldman Sachs 3,338.53 13 11.98%
3 Citi 3,189.91 8 11.44%
4 Barclays 2,228.30 9 7.99%
5 JPMorgan 1,875.45 10 6.73%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 May 2016
1 Citi 7,914.35 41 10.62%
2 Barclays 7,104.32 37 9.53%
3 JPMorgan 7,061.57 50 9.47%
4 Goldman Sachs 6,661.80 37 8.94%
5 Bank of America Merrill Lynch 6,440.04 43 8.64%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 03 May 2016
1 Deutsche Bank 10,470.01 20 3.34%
2 BNP Paribas 9,974.72 30 3.18%
3 SG Corporate & Investment Banking 9,894.09 35 3.16%
4 Barclays 8,723.74 20 2.79%
5 Citi 8,662.49 28 2.77%