Turkey delivers rate hike as Akbank inches towards refi

The Central Bank of Turkey delivered a larger-than-expected interest rate hike this week that was given a cautious welcome by emerging markets bond syndicate bankers hoping to see some stability in the lira. Loans bankers working on a crucial $930m loan refinancing for Akbank — seen as a litmus test of foreign lenders' appetite to roll over loans to the financial sector — were nonplussed by the move, but still expressed confidence in rolling the bulk of the funds.

  • By Lewis McLellan, Mike Turner
  • 13 Sep 2018
The Turkish central bank, in a display of independence, raised its weekly repo rate by 625bp in an effort to stabilise the lira and combat runaway inflation, despite Turkish president Recep Tayyip Erdoğan criticising the move. It raised its one week policy rate from 17.75% to 24%. While ...

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Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 41,805.98 197 9.33%
2 HSBC 38,300.85 254 8.55%
3 JPMorgan 28,992.21 148 6.47%
4 Standard Chartered Bank 25,609.79 175 5.72%
5 Deutsche Bank 22,581.91 86 5.04%

Bookrunners of LatAm Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 11,343.89 36 17.06%
2 HSBC 7,749.23 19 11.66%
3 JPMorgan 6,193.00 31 9.32%
4 Deutsche Bank 5,950.19 7 8.95%
5 Bank of America Merrill Lynch 4,241.86 18 6.38%

Bookrunners of CEEMEA International Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 16,634.62 56 11.37%
2 Standard Chartered Bank 14,152.02 58 9.67%
3 JPMorgan 12,867.17 55 8.79%
4 Deutsche Bank 11,339.91 28 7.75%
5 HSBC 11,036.70 50 7.54%

EMEA M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 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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  • Today
1 UniCredit 4,408.94 25 13.88%
2 ING 2,837.58 22 8.93%
3 Credit Agricole CIB 2,397.03 10 7.54%
4 MUFG 1,904.23 9 5.99%
5 Credit Suisse 1,802.80 1 5.67%

Bookrunners of India DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 AXIS Bank 6,233.46 110 23.73%
2 HDFC Bank 3,031.20 67 11.54%
3 Trust Investment Advisors 2,768.09 93 10.54%
4 AK Capital Services Ltd 1,907.48 82 7.26%
5 ICICI Bank 1,863.14 64 7.09%