Top story
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CAF sets price thoughts on dollar return
South American development bank Corporación Andina de Fomento (CAF) is due to price to a first public dollar deal in a year on Thursday, having set price talk on Wednesday.
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'Bad backdrop' keeps EM borrowers at bay
Two emerging market borrowers had to postpone deals this week, thanks to volatility in the market. Naftogaz and Emirates NBD have had to put plans for their five year dollar benchmarks on hold.
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Nigeria defies volatility; hits screens with triple trancher
Nigeria is back in capital markets, undeterred by a volatile backdrop that has kept other borrowers from accessing the market.
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Gazprom prints first Russian bond since April sanctions
Gazprom on Tuesday sold the first public international bond from Russia since a punitive round of US sanctions was put on the country in April.
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EM borrowers shy away as investors up demands
Two emerging market borrowers have been forced to postpone planned deals this week, with investors demanding better yields to risk their cash in the volatile market.
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Bin Butti International Holdings launch debut syndication
UAE-based Bin Butti International Holdings has launched its debut syndicated loan to refinance existing debt worth $500m.
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Fitch warns on Frontera’s consent solicitation
Colombo-Canadian oil and gas company Frontera Energy’s attempt to grant itself the power to make larger payments to shareholders is an aggressive move, said bankers as Fitch highlighted it would be a credit negative.
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Colombia hires DB economist to head DMO
Just over 100 days since Ivan Duque took office as Colombia’s president, the South American country has appointed a new head of public credit and national treasury.
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Gulf of opportunity
Despite commodity catastrophes and diplomatic discord, the Gulf is set to be one of the most promising regions for the syndicated loan market in coming years, with a number of projects in the pipeline and governments seeking to modernise their economies by diversifying their funding sources. Banks seeking long term returns and future ancillary business should pay close attention.
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M&A: A fantasy panacea for lenders
Loans desks are going to fall woefully short of budget expectations this year, part of that is because management puts so much faith in M&A bolstering volumes. This is folly.
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Adversaries Gazprom and Naftogaz pick same day for new bonds
Russian giant Gazprom and Ukrainian oil and gas firm Naftogaz, who have been locking horns in court, both chose Tuesday to release price guidance for new Eurobonds. The Gazprom deal will be the first public international bond from a Russian issuer since the US sanctions that shook the market in April. The Naftogaz bond is its first since 2009.
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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Gulf of opportunity
Despite commodity catastrophes and diplomatic discord, the Gulf is set to be one of the most promising regions for the syndicated loan market in coming years, with a number of projects in the pipeline and governments seeking to modernise their economies by diversifying their funding sources. Banks seeking long term returns and future ancillary business should pay close attention.
Bookrunners of International Emerging Market DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 48,617.52 | 231 | 9.46% |
| 2 | HSBC | 43,297.67 | 292 | 8.43% |
| 3 | JPMorgan | 34,507.54 | 171 | 6.72% |
| 4 | Standard Chartered Bank | 28,928.33 | 204 | 5.63% |
| 5 | Deutsche Bank | 25,097.86 | 98 | 4.88% |
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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 | 48,617.52 | 231 | 9.46% |
| 2 | HSBC | 43,297.67 | 292 | 8.43% |
| 3 | JPMorgan | 34,507.54 | 171 | 6.72% |
| 4 | Standard Chartered Bank | 28,928.33 | 204 | 5.63% |
| 5 | Deutsche Bank | 25,097.86 | 98 | 4.88% |
Bookrunners of LatAm Emerging Market DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 13,465.23 | 42 | 17.91% |
| 2 | HSBC | 8,624.00 | 21 | 11.47% |
| 3 | JPMorgan | 7,888.60 | 35 | 10.49% |
| 4 | Deutsche Bank | 6,487.13 | 9 | 8.63% |
| 5 | Bank of America Merrill Lynch | 4,573.34 | 21 | 6.08% |
Bookrunners of CEEMEA International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 19,041.78 | 65 | 11.42% |
| 2 | Standard Chartered Bank | 15,207.37 | 64 | 9.12% |
| 3 | JPMorgan | 15,111.39 | 63 | 9.06% |
| 4 | Deutsche Bank | 12,722.14 | 33 | 7.63% |
| 5 | HSBC | 12,613.66 | 56 | 7.56% |
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 | 4,631.80 | 28 | 12.96% |
| 2 | ING | 3,270.62 | 26 | 9.15% |
| 3 | Credit Agricole CIB | 2,397.03 | 10 | 6.71% |
| 4 | SG Corporate & Investment Banking | 2,093.15 | 15 | 5.86% |
| 5 | MUFG | 1,979.59 | 10 | 5.54% |
Bookrunners of India DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | AXIS Bank | 6,262.97 | 112 | 23.11% |
| 2 | HDFC Bank | 3,031.20 | 67 | 11.18% |
| 3 | Trust Investment Advisors | 2,793.32 | 96 | 10.31% |
| 4 | AK Capital Services Ltd | 1,915.50 | 83 | 7.07% |
| 5 | ICICI Bank | 1,863.14 | 64 | 6.87% |
