Latest CEE Bonds news go to loans | go to equity
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STLC to test quasi-sovereign Russia appetite
Russia’s State Transport Leasing Co (STLC or GTLK), will start a roadshow on Monday to market a six or seven year dollar benchmark in the first time a fully state-owned company has tried to tap the bond markets since the most recent round of US sanctions against the Russian sovereign in early August. Investors have mixed views as to the response it will receive.
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Sovereign pair offer first autumn CEEMEA euro deals
The Republic of Kazakhstan and the State of Montenegro have mandated for the first euro bonds from the CEEMEA region since the market re-opened in September.
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Armenia returns for first bond in four years with pricey 10 year
Armenia is in the market for its first sovereign Eurobond in four years, hitting screens with a 10 year $500m no-grow.
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STLC joins Russia flurry to offer rare state-owned credit
Russia’s State Transport Leasing Company (STLC), is planning to add to the spree of new bonds from Russia, hitting the road to market a six or seven year dollar benchmark. The deal will be the first time a fully state-owned company has tried to tap the bond markets since the most recent round of US sanctions against the Russian sovereign in early August.
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Zelensky must be seen to be on the straight and narrow
Ukraine’s wildcard new president Volodymyr Zelensky has been making all the market-friendly noises investors could wish to hear, turning the country into a darling of emerging market portfolio managers. But there’s a wasp at the picnic: one oligarch's quest to regain his former bank is threatening the country’s economic future.
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Latest CEE Loans news bonds | equity
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Loans in brief: September 13, 2019
Two UK airports set to sell US private placements - Market first as Northern Irish housing association seeks US PPs - Kernel set to secure yet another facility, as EBRD continues Ukrainian push - RMB Mauritius secures loan, months after dollar debt transfer
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Kernel set to secure yet another facility, as EBRD continues Ukrainian push
Kernel, a Ukrainian grain and sunflower producer, is set to secure yet another credit facility, alongside an amend and extend deal it recently signed. The European Bank of Reconstruction and Development will provide up to $80m of the total $300m facility, as the development bank continues to support Ukrainian corporates.
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Are credit ratings relevant for Turkey's banks?
Ratings, huh. What are they good for? Absolutely nothing — at least not when push comes to shove in the financing of Turkey's banks. Moody's downgrade to the Turkish sovereign and the country's banks in June sparked concern among syndicated lenders. But as another round of refinancings begins, pricing is tightening and banks are heaping praise upon their Turkish counterparts.
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Loans in brief: September 6, 2019
Paddy Power looks to cash out with US private placements — Spurs up private placement deal to £525m — LXi Reit draws new revolver for acquisitions — AMS lines up €4.2bn bridge loan in Osram swoop — Ukraine’s Kernel to tap lenders for A&E
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Turkish banks push for tightening in latest refi round
This year’s second Turkish bank refinancing wave has started and borrowers are pushing hard for tighter pricing. Akbank is expected to set the benchmark for its peers by securing tighter margins on its upcoming loan refi.
Latest CEE Equity news bonds | loans
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Kaspi.kz brings more EM joy to London amid Brexit gloom
Kaspi.kz, the Kazakh payments group, is preparing to list global depositary receipts (GDRs) on the London Stock Exchange this autumn, as EM deals provide a brief glimmer of hope for the UK capital as Brexit volatility has killed the hopes of many UK issuers.
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Russia brings joy in grim year for EM equities
Emerging market equities have had a torrid few weeks as investors sell riskier assets over fears they will suffer if US-China trade tensions exacerbating a global economic slowdown. This has limited the supply of new deals from certain countries this year but as always in EM there are pockets of opportunity and this year’s success story has been Russia.
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EM IPOs more likely to list in 2020 as pipeline moved back
A number of highly anticipated emerging market IPO issuers are understood to have shifted listing plans to next year instead of the last quarter of 2019.
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Russian IPOs on ice as listed market shrinks
Ready and willing equity investors are facing another year of frustration in Russia, with the country's IPO activity set to underwhelm until 2020.
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Most Viewed: Emerging Markets
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 | 39,239.04 | 223 | 7.74% |
| 2 | HSBC | 37,928.36 | 307 | 7.48% |
| 3 | JPMorgan | 36,802.10 | 191 | 7.26% |
| 4 | Standard Chartered Bank | 27,333.34 | 227 | 5.39% |
| 5 | Goldman Sachs | 19,742.96 | 89 | 3.89% |
Bookrunners of LatAm Emerging Market DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 9,719.43 | 36 | 12.00% |
| 2 | JPMorgan | 9,063.29 | 36 | 11.19% |
| 3 | Bank of America Merrill Lynch | 6,672.20 | 26 | 8.23% |
| 4 | Goldman Sachs | 5,908.94 | 23 | 7.29% |
| 5 | Santander | 5,334.22 | 29 | 6.58% |
Bookrunners of CEEMEA International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 17,089.61 | 67 | 11.90% |
| 2 | Citi | 15,564.88 | 61 | 10.84% |
| 3 | Standard Chartered Bank | 11,417.32 | 59 | 7.95% |
| 4 | HSBC | 8,619.65 | 46 | 6.00% |
| 5 | BNP Paribas | 8,531.65 | 24 | 5.94% |
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 | ING | 2,518.73 | 15 | 13.37% |
| 2 | UniCredit | 1,953.88 | 13 | 10.37% |
| 3 | SG Corporate & Investment Banking | 1,851.18 | 13 | 9.82% |
| 4 | Citi | 1,187.74 | 11 | 6.30% |
| 5 | MUFG | 1,085.56 | 8 | 5.76% |
Bookrunners of India DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Standard Chartered Bank | 2,905.23 | 23 | 16.40% |
| 2 | Barclays | 2,077.67 | 20 | 11.73% |
| 3 | HSBC | 1,823.74 | 19 | 10.30% |
| 4 | MUFG | 1,658.78 | 15 | 9.36% |
| 5 | JPMorgan | 1,584.80 | 18 | 8.95% |
