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  • Bosnia and Herzegovina rails against delays to EU accession

    Senior Bosnia and Herzegovina officials vented frustration at the stalled process of EU accession talks yesterday (Wednesday), warning that Europe’s foot-dragging was stymying growth and investment and threatened to undermine belief in the process.

    • 08 May 2019
  • Russia to EBRD: talk or we walk

    Five years after the EBRD decided to stop funding new projects in Russia, the country has started to hint it might walk away from the multinational bank and find other funding sources unless it opens negotiations

    • 08 May 2019
  • EBRD’s Africa push met with scorn in Sarajevo

    Plans by the EBRD to enter sub-Saharan Africa have been criticised by delegates at the annual meeting for taking on more responsibilities at a time when they have not completed their tasks in their original areas of operation

    • 08 May 2019
  • Europe risks driving Ukraine to Russia through neglect

    Ukraine’s president-elect Volodymyr Zelensky appears to have planted his flag firmly in favour of European integration but there are warnings that Russia will step into the gap if the bloc does not reciprocate

    • 08 May 2019
  • CEE ‘behind the curve’ on green bonds

    Climate change may be climbing to the top of the EU and EBRD’s agenda, but the outlook remains clouded in CEE, where green bond issuances remain intermittent. However, countries in emerging Europe are being encouraged to respond to their obligations by using green financial instruments

    • 08 May 2019
  • EIB planning to launch new development bank

    GlobalMarketscan reveal that the European Investment Bank is preparing to launch a new entity — potentially called the European Bank for Sustainable Development — that will focus on sustainable projects outside the EU.

    • 08 May 2019
  • Baltic countries target single index classification

    The EBRD is working with Latvia, Estonia and Lithuania to have the Baltic region classified as a frontier market initially and is working on a pan-area covered bond framework

    • 08 May 2019
  • European Commission ‘should create fintech union’

    The European Commission should work on setting protocols and standards to allow European-wide co-operation on fintech, according to Vilius Sapoka, Lithuania’s finance minister.

    • 08 May 2019
  • Foreign lenders committed to Turkish banks despite Istanbul re-run

    The political uncertainty triggered by the decision to re-run the municipal elections in Istanbul has not dented international lenders’ appetite for financing Turkey’s banks, market participants tell GlobalMarkets

    • 08 May 2019
  • PrivatBank ‘confident’ of resisting nationalisation unwind

    A Ukrainian bank believes it can overturn a court ruling against its nationalisation that was seen as good news for the oligarch who used to own it and who is a supporter of the incoming president.

    • 08 May 2019
  • Lithuania ‘distinguished’ from other Baltics on money laundering

    Lithuania’s finance minister tells GlobalMarkets why he is confident that his country has a lower exposure to money laundering risk than its Baltic neighbours because of its relatively low level of non-resident deposits.

    • 08 May 2019
  • West lagging in race to finance Uzbek reforms

    As Uzbekistan takes its first steps towards opening up to international investors, Europe and US are trailing behind their Russian and Chinese counterparts.

    • 08 May 2019
  • Kazakhstan privatisation on track with KMG listing in 2020

    Emerging markets investors are looking ahead to a series of privatisations in Kazakhstan following the economic reforms unveiled by outgoing president Nursultan Nazarbayev that should be implemented by his successor

    • 08 May 2019
  • Uzbek banks open doors to foreign money

    After being off limits to foreign investors for many years, Uzbekistan has raced to catch up for lost time by seeking investments by European banks and international financial institutions

    • 08 May 2019
  • The heart of the New Silk Road

    After decades of self-imposed isolation, Uzbekistan is embarking on a range of projects with the help of Chinese assistance — and finance — to slowly start to stitch a recently remote country back into the global economy

    • 08 May 2019
  • Uzbekistan: coming in from the cold

    After years of isolation, Uzbekistan has started to forcefully address its economic challenges and exploit its inherent advantages in a way that offers the potential to make this resource-rich market a stronger player in the global economy

    • 08 May 2019
  • Investors attracted by lure of Uzbek capital markets

    Four decades after declaring independence, a successful Eurobond issue and major reforms show Uzbekistan is finally growing up and engaging with the world on its own terms

    • 08 May 2019
  • Uzbekistan is reforming and opening up to the world

    Since late 2016, Uzbekistan has embarked on large-scale institutional, economic and social reforms under President Mirziyoyev’s administration.

    • 08 May 2019
  • Russia losing ground in Central Asia as key rival pumps in cash

    Russia is at risk of being permanently marginalised in markets in Central Asia that until recently it viewed as part of its sphere of influence.

    • 07 May 2019
  • Investors hesitant on Zelensky ahead of Eurobond issue

    Investors are looking for clearer signals of the policies that former comic Volodymyr Zelensky will enact after winning power as Ukraine’s new president a month ago ahead of an expected return to the Eurobond market

    • 07 May 2019
  • Istanbul election re-run ‘prolongs recession and erodes Turkey’s credibility

    Investors have told GlobalMarkets that the decision to re-run the municipal elections in Istanbul will deliver fresh economic uncertainty in Turkey as further delays to much-needed reforms will add to drops in the currency and bonds

    • 07 May 2019
  • Balkans to Brussels: invest more or give way to China

    The finance minister of Bosnia and Herzegovina has used an interview with GlobalMarkets to send a strong warning to the European Union to increase investment in the Balkan region or risk falling behind China

    • 07 May 2019
  • Basel rules ‘curbing infra investment in emerging markets’

    Hopes of attracting private finance to fill the funding gap for much-needed infrastructure projects in developing and emerging countries are being threatened by new rules aimed at making banks safer.

    • 07 May 2019
  • Local banking strength in CEE to offset growth slowdown

    The success of the commercial banking system in central and eastern Europe in taking over from development banks in providing finance will support the region ahead of a forecast slowdown in economic growth

    • 07 May 2019
  • Market eyes EBRD role in cat bonds for western Balkans

    Catastrophe bonds could be a useful tool for countries in the western Balkans to insure against the impact of weather related disasters — especially if bodies such as the EBRD and UN play a role

    • 07 May 2019
  • Romania, France support bolder versions of EU’s sustainable economy taxonomy

    Romania and France are pushing for a bolder taxonomy within the EU's Sustainable Finance Action plan as EU finance officials meet in Brussels today. The latest draft, put forward by Romania, sees the taxonomy covering all economic activities, grading them from green to brown.

    • 07 May 2019
  • Equity investors see golden opportunities in Uzbekistan

    A decision by Uzbekistan to open its capital markets to outside investors is set to see a roll out of privatisations of non-core businesses such as banks and mining companies

    • 07 May 2019
  • Economists warn CEE against adopting modern monetary theory

    Modern monetary theory has become a rallying cry for the left in the United States where its advocates say it can unlock state spending without sparking inflation. But economists in the CEE warn it would have dire impacts in the EBRD region

    • 07 May 2019
  • EBRD urged to intervene over ‘damaging’ North Macedonia hydro project

    Hydropower power projects have proved to be very controversial across the West Balkans and one project in North Macedonia has put the EBRD into conflict with environmental campaigners

    • 07 May 2019
  • Can Orbanism echo its success in Hungary in the wider region?

    Hungary has again demonstrated a willingness to tread its own path. Moves such as bank nationalisation, building barriers and increased protectionism have incurred the wrath of Brussels but have been copied by other EU member states

    • 07 May 2019
  • China’s focus means Bosnian economy no longer feeling left behind

    The governor of the central bank of Bosnia and Herzegovina hopes global investors will understand the opportunities and will seek to exploit them but so far, the main source of that attention has come from China

    • 07 May 2019
  • Joining the EU remains a dream for Bosnia

    Joining the European Union would put Bosnia and Herzegovina squarely on the investment map. But for now it seems that the hosts of this year’s EBRD annual meetings are not ready to make the step up yet

    • 07 May 2019
  • Banking on Bosnia’s financial strength

    The strength of Bosnia and Herzegovina’s banking sector is one of the tiny country’s overlooked successes, posting despite double digit growth in income and in return on equity

    • 07 May 2019
  • Capital market reform — Hungary’s quiet revolution

    Interventions by the Budapest Stock Exchange and Hungary’s financial regulators have enabled the country’s capital markets to play a lead role in attracting homegrown innovators and foreign investors

    • 07 May 2019
  • Hungary’s banks thrive in era of nationalization

    Since Viktor Orban came to power in Hungary, more than half of the share of the banking sector is controlled by the government. But the sector is healthier, more profitable and showing an appetite to expand into the wider region

    • 07 May 2019
  • Securing the economic potential of Bosnia and Herzegovina

    Bosnia and Herzegovina (BiH) is a middle-income country with a huge potential for growth, but unfortunately, it is the news and discussions about the politics that most of the time dominate the economic reform debate.

    • 07 May 2019
  • Investing in Bosnia opens up access to wider markets

    Welcome to Sarajevo, the capital of Bosnia and Herzegovina. I want to use this opportunity to point out immediately that Bosnia and Herzegovina represents much more than “post-war”, “complex structure”, “standstill in the process of government setup” and “programme with the IFI institutions”, which are the images which are sometimes used in the foreign media. Please allow me to explain why I have a different point of view which allows me to look at my country through the lens of accelerated and better progress in the future.

    • 07 May 2019
  • Moldova dares to hope

    Moldova starts from a low base in terms of economic growth, but bold financial legislation and efforts to attract investors are beginning to pay dividends

    • 07 May 2019
  • The ECBC’s 29th plenary session: using covered bonds to benefit the real economy

    The first ever European Covered Bond Council plenary meeting in central and eastern Europe was dominated by discussions of the product’s geographical expansion, the implications of the new Covered Bond Directive and the role that covered bonds can play in the development of green and sustainable finance.

    • 07 May 2019
  • Building a Pan-Baltic covered bond market

    In a roundtable discussion organised and chaired by GlobalCapital at the ECBC’s 29th plenary meeting in Riga, covered bond market participants heard from the people responsible for the Pan-Baltic Covered Bond Framework and were able to understand both how this market is being built and what the prospects for issuance are

    • 07 May 2019
  • Philippines looks to issue cat bond

    The Philippines is preparing a sovereign catastrophe bond, the World Bank said on Monday. The imperilled country could be the next to use the instrument as insurance against natural disasters.

    • 14 Jan 2019

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 163,028.47 711 8.04%
2 Citi 160,005.15 642 7.90%
3 Bank of America Merrill Lynch 132,268.74 528 6.53%
4 Barclays 127,185.71 494 6.28%
5 HSBC 106,407.22 534 5.25%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 12,912.95 35 6.60%
2 BNP Paribas 12,334.48 61 6.31%
3 UniCredit 11,196.47 58 5.73%
4 Citi 9,580.75 37 4.90%
5 Deutsche Bank 8,953.95 35 4.58%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 5,579.06 26 10.66%
2 JPMorgan 4,866.13 28 9.30%
3 Goldman Sachs 4,405.13 21 8.41%
4 Citi 3,774.81 24 7.21%
5 UBS 3,602.23 16 6.88%