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  • Argentina primaries stun EM as brutal sell-off poses investors dilemma

    A surprise result in last Sunday's primary elections in Argentina triggered hefty losses for emerging market investors this week. Many feared another sovereign default as Argentina assets, and its currency, took an absolute kicking. But by Thursday, writes Oliver West, some felt that bruised and battered investors could be missing out on a chance to snap up cheap assets.

    • 15 Aug 2019
  • Polish mortgage law has ‘significant adverse effects’

    A draft Polish law, requiring the written consent of property owners to transfer mortgages, would have “significant adverse effects on Polish banks’ funding” said the European Central Bank, with respect to the covered bond and securitization markets. However, a legal expert said there would be no direct impact on covered bonds.

    • 15 Aug 2019
  • Avianca eyes exchange to unlock shareholder funds

    Colombian airline Avianca is offering bondholders the chance to swap unsecured bonds at par for new secured debt as it looks to stave off a looming maturity and clinch $250m of shareholder funding. The airline’s CFO said on Thursday that he felt positive the exchange would go ahead in its existing form.

    • 15 Aug 2019
  • Funds fear carnage but EM bankers say Sept will still be busy

    EM investors have had a gut wrenching week as a barrage of bad news — some within the emerging markets and some external to them — chipped away or in some cases annihilated their year’s returns so far. But though some fund managers said that they now fear a further widespread sell-off in EM assets similar to the second half of 2018, syndicate bankers said that there is a queue of issuers ready, waiting and expecting to be able to tap the international bond markets imminently.

    • 15 Aug 2019
  • EM outflows surprisingly ok, actually

    Emerging market fund managers have been steeling themselves for disastrous outflow data as geopolitical events shook the asset class and EM currencies. But numbers from EFPR Global suggest the exodus has been somewhat benign, with even one day of inflows.

    • 15 Aug 2019
  • Avianca exchange offers brand name as collateral

    Colombian airline Avianca is offering bondholders the chance to swap unsecured bonds at par for new secured debt as it looks to stave off a looming maturity and clinch $250m of shareholder funding.

    • 15 Aug 2019
  • DTEK bonds slide on corruption accusations

    Ukrainian energy company DTEK is struggling to halt a slide in its bond trading since the National Anti-Corruption Bureau of Ukraine (NABU) issued notices of suspicion to six individuals — two of whom are DTEK employees — involved in a coal pricing controversy. The bonds have lost around five points in the space of a week.

    • 14 Aug 2019
  • GNB bonds drift lower as Moody’s warns on Paraguay exposure

    Bonds issued by Colombian financial holding company Gilex and its subsidiaries widened on Tuesday as the lender’s proposed acquisition of BBVA’s Paraguayan bank triggered a downgrade review from Moody’s.

    • 14 Aug 2019
  • EM in a spin as Macri, macro and imports rock markets

    US President Donald Trump’s delay to some tariffs on Chinese imports helped to soothe the nerves in emerging market bonds on Tuesday, but the fledgling optimism was soon stamped on by disappointing German data.

    • 14 Aug 2019
  • Shareholders back Omnia’s R2bn rights offer

    Omnia Holdings, the South African chemicals company, has fixed the terms for its R2bn ($136m) rights issue to reduce debt, after securing underwriting from its top shareholders.

    • 13 Aug 2019


The GlobalCapital View logo   Comment




  • Lenders: get with the times or get out

    The syndicated loan market is undergoing a transformation. Borrowers are growing in sophistication and artificial intelligence is creeping into the syndication process. It's time lenders faced a reality check: get with the programme, or get gone.

    • 13 Aug 2019

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Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 35,453.86 201 7.77%
2 JPMorgan 33,385.61 167 7.31%
3 HSBC 33,050.94 271 7.24%
4 Standard Chartered Bank 24,799.02 198 5.43%
5 BNP Paribas 17,722.61 95 3.88%

Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 35,453.86 201 7.77%
2 JPMorgan 33,385.61 167 7.31%
3 HSBC 33,050.94 271 7.24%
4 Standard Chartered Bank 24,799.02 198 5.43%
5 BNP Paribas 17,722.61 95 3.88%

Bookrunners of LatAm Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 8,173.59 31 11.87%
2 JPMorgan 7,261.96 30 10.55%
3 Bank of America Merrill Lynch 4,900.45 21 7.12%
4 Santander 4,850.26 26 7.04%
5 Morgan Stanley 4,698.95 17 6.82%

Bookrunners of CEEMEA International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 16,214.73 59 11.76%
2 Citi 15,044.20 56 10.91%
3 Standard Chartered Bank 10,967.36 55 7.95%
4 HSBC 8,619.65 46 6.25%
5 BNP Paribas 8,469.15 23 6.14%

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 %
  • Last updated
  • Today
1 UniCredit 2,082.81 13 12.04%
2 SG Corporate & Investment Banking 1,851.18 13 10.70%
3 ING 1,599.84 14 9.25%
4 Citi 1,187.74 11 6.87%
5 MUFG 1,085.56 8 6.28%

Bookrunners of India DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Standard Chartered Bank 2,621.45 21 16.73%
2 HSBC 1,713.74 17 10.94%
3 Barclays 1,602.23 16 10.23%
4 Citi 1,398.63 17 8.93%
5 JPMorgan 1,393.13 16 8.89%