Top story
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Venezuela debt steady despite no election hope
Nicolás Maduro’s comfortable and predicted victory in Sunday’s highly questioned presidential elections in Venezuela has reaffirmed the view of many bondholders that improvements in the crisis-stricken country are some way off.
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Peruvian proves generous on bond hunt
Hunt Oil Company of Peru on Thursday sold the largest dollar-denominated bond deal from a Latin American issuer this month. Syndicate bankers took the deal as a positive even though investors said the issuer had been generous with pricing.
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CAF stays in Colombia for green debut
South American development bank CAF (Corporación Andina de Fomento) sold its first ever green bond this week, raising Ps150bn ($52.2m) of Colombian peso-denominated bonds.
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Petrobras launches tender before curve sells off
Petrobras yet again asked certain bondholders to reduce their exposure to the company via a tender offer this week — and a sell-off in the Brazilian company’s bonds, after it announced a temporary cut in diesel prices, is likely to help the cause.
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The Pained Trader: Istanbul bizarre
The Pained Trader copes with a currency crisis.
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Fleeting relief for lira after CBRT rate rise fails to instil confidence
Turkey’s central bank stepped in on Wednesday to stem the collapse of its currency, delivering an emergency 300bp increase, but market commentators deemed the move too little, too late, saying investors' confidence in the bank remained impaired.
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World Bank pandemic bond in focus after disease outbreaks
The World Bank’s pandemic bond, launched last June, was innovative in its coverage and objectives. Therefore the recent potential trigger events after outbreaks of Lassa Fever in Nigeria and of Ebola in the Democratic Republic of Congo offer valuable new insight into how the product functions.
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BGK limps over the line in volatile market
Bank Gospodarstwa Krajowego (BGK), Poland's state development bank, printed its dual tranche euro bond on Wednesday in a tough market that allowed for no tightening from initial price guidance and book that was only just covered.
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EU told to go slow on tricky green finance Taxonomy
The European Commission adopted its first Sustainable Finance package on Thursday — draft laws that will begin to implement its strategy. The proposals have been changed at the request of an internal EC committee, to make them more workable, especially when it comes to the planned Taxonomy of green and sustainable activities.
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Israel Chemicals prints rare 20 year in tough market
Israel Chemicals navigated a difficult market, which saw a pulled investment grade deal, to print a rare 20 year bond combined with a buy-back.
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mBank prints in Swiss francs, mood begins to change
Polish financial institution mBank has returned to the Swiss franc bond market. Like many sold in the past few weeks, the bonds were priced at the wider end of guidance — a sign that the market is returning to more conventional spread levels, and investors are expecting higher returns.
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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New UK sanction ideas on Russia are toothless
The UK's foreign affairs committee report, released on Monday, holds the US Treasury’s sanctions strategy in high regard, because of the immediate impact on financial markets. But it misunderstands the reason for the US-driven sell-off, and so its recommendations are faulty as well.
Bookrunners of International Emerging Market DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 33,334.77 | 139 | 10.05% |
| 2 | HSBC | 28,431.40 | 162 | 8.57% |
| 3 | JPMorgan | 21,769.41 | 104 | 6.56% |
| 4 | Deutsche Bank | 21,060.01 | 68 | 6.35% |
| 5 | Standard Chartered Bank | 20,086.33 | 120 | 6.05% |
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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 | 33,334.77 | 139 | 10.05% |
| 2 | HSBC | 28,431.40 | 162 | 8.57% |
| 3 | JPMorgan | 21,769.41 | 104 | 6.56% |
| 4 | Deutsche Bank | 21,060.01 | 68 | 6.35% |
| 5 | Standard Chartered Bank | 20,086.33 | 120 | 6.05% |
Bookrunners of LatAm Emerging Market DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 10,967.70 | 33 | 18.12% |
| 2 | HSBC | 7,273.68 | 16 | 12.02% |
| 3 | Deutsche Bank | 5,824.56 | 6 | 9.62% |
| 4 | JPMorgan | 5,661.98 | 25 | 9.35% |
| 5 | Bank of America Merrill Lynch | 4,079.80 | 16 | 6.74% |
Bookrunners of CEEMEA International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 13,239.21 | 41 | 10.90% |
| 2 | Standard Chartered Bank | 12,126.28 | 40 | 9.98% |
| 3 | Deutsche Bank | 10,752.93 | 23 | 8.85% |
| 4 | JPMorgan | 10,317.96 | 40 | 8.50% |
| 5 | HSBC | 8,762.12 | 37 | 7.21% |
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 | 1,573.44 | 7 | 15.78% |
| 2 | Intesa Sanpaolo SpA | 1,287.73 | 4 | 12.91% |
| 3 | Mitsubishi UFJ Financial Group | 889.90 | 4 | 8.92% |
| 4 | Deutsche Bank | 727.35 | 6 | 7.29% |
| 5 | Commerzbank Group | 528.80 | 5 | 5.30% |
Bookrunners of India DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | AXIS Bank | 4,462.75 | 70 | 25.37% |
| 2 | Trust Investment Advisors | 2,016.80 | 52 | 11.46% |
| 3 | HDFC Bank | 2,009.66 | 35 | 11.42% |
| 4 | ICICI Bank | 1,242.43 | 43 | 7.06% |
| 5 | Yes Bank Ltd | 1,067.50 | 11 | 6.07% |
