The collapse of Afren, the once-proud London-listed oil exploration and production company with three bond issues to its name, is a shocking reminder of the risks investors face in emerging markets, and of how even some of the most sophisticated players in financial markets can get things drastically wrong.

Read GlobalCapital's special investigation into what went wrong.

Background reading

  • Afren’s board in mass exodus ahead of trying AGM

    All but one of Afren's directors resigned on Thursday, ahead of the firm’s annual general meeting, pre-empting what some shareholders had expected would be a bloodbath vote for any historical director seeking re-election.

    • 25 Jun 2015
  • Shareholder group to fight Afren restructuring

    A group of small shareholders in Afren, the embattled London-listed oil exploration company, is striving to block Afren's restructuring agreement with its creditors.

    • 21 May 2015
  • Afren opts to default on 2019 despite restructuring

    Afren, the troubled oil exploration company, has decided not to pay the $12.8m of interest which was due on its 2019 bonds on April 8, 2015, despite having raised $200m of interim funding on April 30.

    • 11 May 2015
  • Nigerian banks played hardball over Afren debt — and won

    Afren, the troubled oil exploration company, has avoided imminent bankruptcy with a $200m lifeline credit facility. The money injection follows a tense restructuring process in which two Nigerian banks dictated terms to a group of global financial giants, writes Olivier Holmey.

    • 07 May 2015
  • Afren recap gives shareholders last chance

    Afren, the London-listed, Africa-focused oil exploration company, has heralded its initial agreement with a group of lenders and bondholders as the only way to avoid default.

    • 13 Mar 2015
  • Afren's woes mean debt restructuring on the horizon

    Struggling Afren is in talks with bondholders to restructure its Eurobonds due 2016. The company missed a coupon payment on its February 2016s earlier this month.

    • 09 Mar 2015
  • Afren avoids default with second loan payment deferral

    Afren, the Africa-focused oil exploration company listed on the London Stock Exchange, has obtained a second deferral from lenders on a $50m loan amortisation payment.

    • 02 Mar 2015
  • Afren fights to avoid default with loan payment extension

    Afren, the Africa-focused oil exploration company listed on the London Stock Exchange, has avoided default on a $300m loan after obtaining a deferral from banks on the $50m amortisation payment that was due on Saturday January 31 for its Ebok debt facility.

    • 02 Feb 2015

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 417,651.57 1605 9.04%
2 JPMorgan 380,255.75 1735 8.23%
3 Bank of America Merrill Lynch 360,270.83 1308 7.80%
4 Goldman Sachs 268,034.61 924 5.80%
5 Barclays 267,242.43 1081 5.79%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 45,449.36 196 6.57%
2 BNP Paribas 38,734.80 217 5.60%
3 Deutsche Bank 37,615.10 139 5.44%
4 JPMorgan 34,724.19 118 5.02%
5 Bank of America Merrill Lynch 33,835.53 112 4.89%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 22,475.00 105 8.66%
2 Morgan Stanley 19,057.00 101 7.34%
3 Citi 17,812.08 111 6.86%
4 UBS 17,693.89 71 6.82%
5 Goldman Sachs 17,332.64 99 6.68%