Top story
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Russia returns, investors should rejoice
Fear of US sanctions kept Russian borrowers out of the market for much of 2018. Now they’re coming back, and investors would be well advised to get involved.
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Abramovich hits blocks market again in Evraz sale
Roman Abramovich let a consortium of three Russia oligarchs in a £151m selldown of shares in Evraz, the London-listed Russian steel and mining company on Monday night.
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Credit Bank of Moscow snags $500m in Russia return, Evraz on the way
Russian borrowers are returning to life as investors start to brush off sanctions risks, though issuance is still weak compared to the same time last year. Evraz hits the road for a five year dollar bond on Wednesday and Credit Bank of Moscow (CBM) came to market on Monday.
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VUB issues first Slovakian covered bond benchmark
Slovak Vseobecna uverova banka (VUB) attracted a €2.5bn orderbook from 160 mostly new investors on Tuesday for its first benchmark covered bond and the debut benchmark from Slovakia. The deal sends a strong signal to other borrowers in the country, where several banks are understood to be lining up, and shows that the covered bond market is open and ready for their business.
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Turkey taps dollars in fourth capital markets outing of 2019
The Republic of Turkey is returning to the bond markets for the fourth time this year with a dollar tap of the $2bn 7.625% 2029s it sold in January, continuing to front load for its $8bn 2019 funding target.
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Uralkali to raise $1bn refi but Russian mart riddled with obstacles
Uralkali, a Russian potash fertiliser producer, has sent out a request for proposals to lenders in a bid to raise $1bn. But bankers say that Russian market is beset with difficulties that are delaying the few transactions in the market.
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Qatar Islamic Bank launches, leads estimate zero NIP
Qatar Islamic Bank has launched its $750m five year benchmark sukuk at 150bp over mid-swaps.
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Benin hits screens with debut, Ghana in wings
The Republic of Benin has opened books for its debut bond — a six year amortising bond denominated in euros. Ghana is also expected to enter the market this week, following a roadshow to promote a dollar bond.
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Duration demand drives Gener tighter amid price debate
Lat Am bond bankers and investors may not have found an answer to Monday’s hot topic of the subordination premium on AES Gener’s junior subordinated hybrid, but the issuer left no doubts about the market’s appetite for paper with a highly oversubscribed trade.
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Credit Bank of Moscow hits screens for dollar return
Credit Bank of Moscow (CBM) opened books on Monday for its return to the dollar market, taking orders for five year loan participation notes.
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VUB to issue Slovakia’s first covered bond benchmark
After completing a roadshow, Slovak Vseobecna uverova banka (VUB), a subsidiary of Intesa Sanpaolo, is set to issue its first euro-denominated covered bond in benchmark size.
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
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Russia returns, investors should rejoice
Fear of US sanctions kept Russian borrowers out of the market for much of 2018. Now they’re coming back, and investors would be well advised to get involved.
Bookrunners of International Emerging Market DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 12,394.81 | 101 | 8.52% |
| 2 | Citi | 11,936.44 | 59 | 8.21% |
| 3 | Standard Chartered Bank | 10,310.75 | 68 | 7.09% |
| 4 | JPMorgan | 10,169.28 | 50 | 6.99% |
| 5 | Deutsche Bank | 7,838.45 | 36 | 5.39% |
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Latest news by market and league table performance
Bookrunners of International Emerging Market DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 12,394.81 | 101 | 8.52% |
| 2 | Citi | 11,936.44 | 59 | 8.21% |
| 3 | Standard Chartered Bank | 10,310.75 | 68 | 7.09% |
| 4 | JPMorgan | 10,169.28 | 50 | 6.99% |
| 5 | Deutsche Bank | 7,838.45 | 36 | 5.39% |
Bookrunners of LatAm Emerging Market DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 1,812.95 | 8 | 11.53% |
| 2 | Bank of America Merrill Lynch | 1,775.84 | 5 | 11.29% |
| 3 | Morgan Stanley | 1,595.10 | 4 | 10.14% |
| 4 | BNP Paribas | 1,525.76 | 5 | 9.70% |
| 5 | JPMorgan | 1,278.49 | 5 | 8.13% |
Bookrunners of CEEMEA International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 6,303.69 | 20 | 11.68% |
| 2 | JPMorgan | 5,853.82 | 18 | 10.85% |
| 3 | Standard Chartered Bank | 5,800.43 | 21 | 10.75% |
| 4 | Deutsche Bank | 4,398.63 | 6 | 8.15% |
| 5 | Credit Agricole CIB | 3,952.58 | 10 | 7.32% |
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 | JPMorgan | 176.16 | 1 | 35.45% |
| 2 | AXIS Bank | 85.65 | 1 | 17.24% |
| Subtotal | 261.81 | 2 | 52.68% | |
| Total | 496.93 | 3 | 100.00% | |
Bookrunners of India DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Standard Chartered Bank | 809.89 | 6 | 17.00% |
| 2 | HSBC | 721.85 | 6 | 15.15% |
| 3 | Barclays | 455.94 | 5 | 9.57% |
| 4 | Citi | 451.68 | 4 | 9.48% |
| 5 | State Bank of India | 401.68 | 3 | 8.43% |
