Top story
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Kuwait's Equate shaves pricing with $2.9bn amend and extend
Equate Group, the Kuwaiti petrochemical producer, has amended and extended its $1.9bn term loan and $1bn revolving credit facility, achieving a reduction in pricing and strong demand from international lenders.
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StanChart capitalises on big year for Mid-East bonds
The CEEMEA bond market has been shaken up in 2018. With some of the major issuers out of action, the Middle East has come into its own and heading the charge is Standard Chartered, which enjoyed a breakout year in the region.
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Lat Am DCM in wait-and-see mode for new year
NiQuan Energy Trinidad Ltd, the owner of a gas-to-liquids plant in Trinidad and Tobago, held its final conference calls on Thursday and appears to represent the Lat Am DCM market’s last hope of primary activity in 2018, with most bankers now looking towards January.
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Mexcat amends offer in damage control exercise
Mexico City Airport Trust (Mexcat) offered an improved deal to bondholders this week as it seeks to make the documentation changes necessary to allow it to cancel its Texcoco airport project, but analysts said the new government has a long way to go before regaining the trust of markets.
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Banks explore avenues for growth amid EMEA decline
Lenders across EMEA, particularly in emerging markets have explored new tactics and product lines amid a global decline of loan volumes. League tables show that strategy adjustments and moves in the nascent green lending market have been fruitful for some.
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Mexcat: where tender intentions mean more than turbulent discussions
Bondholders were never going to be satisfied with Mexico’s new government after it cancelled the airport project in which they’d invested $6bn. But though the issuer’s tender offer and consent solicitation is unlikely to be the administration’s last squabble with markets, it is still a good sign.
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EMEA shrinks, but CEEMEA comes out on top
EMEA loan volumes fell this year but the league tables showed that emerging market lenders still have much to be pleased about, with CEEMEA activity growing and keeping loans bankers on their toes.
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Investor relief as Turkey holds course with rates
The Turkish Central Bank has, much to the relief of many in capital markets, kept its central interest rate steady at 24%, paving the way for the sovereign to return to the bond market in January.
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Mexcat improves offer, bondholder group swiftly rejects
Mexico’s finance ministry showed it was willing to listen to investor concerns with a new improved tender offer from Mexico City Airport Trust (Mexcat), but for some bondholders at least it will not be enough to persuade them to participate.
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Santander adds to MTN team
Santander has picked up an ex-Deutsche Bank private debt banker for its MTN syndicate desk.
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Ophir grows RBL facility
UK-listed Ophir Energy has amended and extended its reserves-based lending facility, as a surge of end of year deals continue to work their way through the market.
Go to GlobalCapital's Emerging Markets data pages for the latest information on priced deals, league tables and our proprietary database of Islamic Finance deals.
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Comment
-
Mexcat: where tender intentions mean more than turbulent discussions
Bondholders were never going to be satisfied with Mexico’s new government after it cancelled the airport project in which they’d invested $6bn. But though the issuer’s tender offer and consent solicitation is unlikely to be the administration’s last squabble with markets, it is still a good sign.
Bookrunners of International Emerging Market DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 51,278.67 | 247 | 9.21% |
| 2 | HSBC | 46,501.00 | 331 | 8.35% |
| 3 | JPMorgan | 35,609.78 | 179 | 6.39% |
| 4 | Standard Chartered Bank | 32,680.85 | 231 | 5.87% |
| 5 | Deutsche Bank | 26,714.64 | 108 | 4.80% |
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Bank Profiles
Latest news by market and league table performance
Bookrunners of International Emerging Market DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 51,278.67 | 247 | 9.21% |
| 2 | HSBC | 46,501.00 | 331 | 8.35% |
| 3 | JPMorgan | 35,609.78 | 179 | 6.39% |
| 4 | Standard Chartered Bank | 32,680.85 | 231 | 5.87% |
| 5 | Deutsche Bank | 26,714.64 | 108 | 4.80% |
Bookrunners of LatAm Emerging Market DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 13,465.23 | 42 | 17.19% |
| 2 | JPMorgan | 8,653.71 | 36 | 11.05% |
| 3 | HSBC | 8,633.77 | 22 | 11.02% |
| 4 | Deutsche Bank | 6,487.13 | 9 | 8.28% |
| 5 | Bank of America Merrill Lynch | 4,602.16 | 22 | 5.87% |
Bookrunners of CEEMEA International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 20,532.59 | 68 | 11.75% |
| 2 | Standard Chartered Bank | 16,852.57 | 68 | 9.64% |
| 3 | JPMorgan | 15,393.82 | 66 | 8.81% |
| 4 | Deutsche Bank | 13,178.93 | 35 | 7.54% |
| 5 | HSBC | 12,764.69 | 58 | 7.31% |
EMEA M&A Revenue
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 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 % |
|---|---|---|---|---|
| 1 | UniCredit | 4,968.68 | 31 | 13.21% |
| 2 | ING | 3,270.62 | 26 | 8.70% |
| 3 | Credit Agricole CIB | 2,380.34 | 10 | 6.33% |
| 4 | SG Corporate & Investment Banking | 2,315.08 | 17 | 6.16% |
| 5 | MUFG | 2,061.27 | 11 | 5.48% |
Bookrunners of India DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | AXIS Bank | 6,262.97 | 112 | 22.51% |
| 2 | HDFC Bank | 3,031.20 | 67 | 10.90% |
| 3 | Trust Investment Advisors | 2,793.32 | 96 | 10.04% |
| 4 | AK Capital Services Ltd | 1,915.50 | 83 | 6.89% |
| 5 | ICICI Bank | 1,863.14 | 64 | 6.70% |
