Russia sanctions
  • Lukoil dodges sanction noise to sign loan

    Lukoil has raised a $600m 10 year export credit agency-backed loan via its Uzbekistan subsidiary, as bankers say the loan market remains open for some Russian borrowers.

    • 19 Apr 2018
  • Russia sanctions boost KMG deal

    Kazmunaygas’ (KMG) $3.25bn bond on Tuesday proved to be a beneficiary of the latest round of US sanctions against Russia sanctions, as investors sought a new oil play away from the volatility surrounding assets from the proscribed state.

    • 18 Apr 2018
  • Rusal target for sanctions should give hope to EM investors

    The US Treasury’s targeting of Rusal in its latest round of sanctions was far from the random hit that investors are claiming. The US has demonstrated its power over the dollar-based financial system — and it has no need to do further damage.

    • 17 Apr 2018
  • Sanctions freeze Russian IPO as US says more is coming

    The IPO of IBS IT, a Russian technology company, was postponed on Friday due to “increased market volatility” driven primarily by US-led sanctions against Russia. According to Nikki Haley, US ambassador to the UN, more might be coming.

    • 16 Apr 2018
  • Severe response from intermediaries to new sanctions

    With little clarity on the full scope of the new round of sanctions on Russia from the US Office of Foreign Assets Control’s (OFAC), service providers have been quick to cut ties with the seven sanctioned oligarchs and their related entities for risk of violating new rules on facilitating business with designated individuals or entities.

    • 12 Apr 2018
  • Line between Russian business and Putin has been erased

    In the past, some investors were able to draw a line dividing the Russian businesses in which they parked their cash from Vladimir Putin’s government, despite what some have called a “feudal” hierarchy in the country. Last week’s US sanctions obliterated that line.

    • 12 Apr 2018
  • Russian capital markets bloodied by fresh sanctions

    The decision by the US Treasury last week to designate a number of Russian oligarchs and companies as sanctioned entities, in an effort to curb the country’s “worldwide malign activity”, has transformed investor sentiment and led to buyers fleeing Russia across debt and equities, write Sam Kerr and Francesca Young.

    • 12 Apr 2018
  • New sanctions rock Russian loan market

    Loans bankers are struggling to digest the implications of the new round of US sanctions on Russian oligarchs and companies, announced by the Treasury on April 6.

    • 12 Apr 2018
  • DCM bankers predict Russia bond blackout over sanctions fears

    DCM bankers have seen an evaporation of their Russian bond business this week reminiscent of 2014 when US and EU financial sanctions were first put in place against the country. Fears of further sanctions have meant that the whole Russian bond market is under scrutiny, and pressure.

    • 12 Apr 2018
  • Russian CDS liquidity holds strong

    Risky assets are often beholden to perceptions of geopolitical risk, though in recent times that has been a minor factor in price movements. Perhaps this dynamic is about to change.

    • 12 Apr 2018
  • Everything Moscow! But forced selling of Rusal bonds hits blockade

    Rusal bondholders are in a pickle. They have been told by the US Treasury that they have 60 days to dump the sanctioned Russian company’s bonds, but trading has halted, leaving them stuck with the debt. Investors are lost as to how to value the bonds in their portfolios and are scrambling to work out how they can legally continue to hold and mark them.

    • 12 Apr 2018
  • Russia sanctions add to nerves about RBI AT1s

    The price for Raiffeisen Bank International (RBI) additional tier one (AT1) bonds has tumbled this week, as investors fret over over incoming US sanctions against Russia.

    • 11 Apr 2018
  • Panic selling hits Russia complex, future of Rusal bonds unknown

    Panic selling has hit the Russia bond complex with investors dumping securities as they race to reduce their exposure to the country for fear of further sanctions.

    • 11 Apr 2018
  • Investors 'crushed' as Russia rout deepens and spreads

    The sell-off in Russian bonds is battering emerging markets investors, who are seeing the biggest spread widening since sanctions were first imposed on the country in 2014. Not only have the bonds of freshly sanctioned Rusal tanked but other Russian companies are selling off as investors fear they may be next, and the rot is starting to spread to the wider central and eastern Europe region as well.

    • 10 Apr 2018
  • Equity investors reel as US Treasury 'nukes' Deripaska

    Equity investor sentiment on Russia has been upended in the space of a weekend after the shock release from the US Treasury on Friday imposing a fresh set of sanctions on Russia which has torpedoed the fortunes of aluminium producer EN+ and its owner Oleg Deripaska.

    • 09 Apr 2018

Comment

  • Rusal target for sanctions should give hope to EM investors

    The US Treasury’s targeting of Rusal in its latest round of sanctions was far from the random hit that investors are claiming. The US has demonstrated its power over the dollar-based financial system — and it has no need to do further damage.

    • 17 Apr 2018
  • Market right to fear more Russia sanctions despite delay

    The Trump administration’s decision not to announce new sanctions against Russia on Monday is unlikely to be the end of the sanctions saga, with designations having been proven to be the US's most effective weapon against Russia.

    • 17 Apr 2018
  • Russian CDS liquidity holds strong as sanctions hit credit

    Risky assets are often beholden to perceptions of geopolitical risk, though in recent times that has been a minor factor in price movements. Perhaps this dynamic is about to change.

    • 12 Apr 2018
  • Line between Russian business and Putin has been erased

    In the past, some investors were able to draw a line dividing the Russian businesses in which they parked their cash from Vladimir Putin’s government, despite what some have called a “feudal” hierarchy in the country. Last week’s US sanctions obliterated that line.

    • 12 Apr 2018

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 137,684.72 518 8.06%
2 JPMorgan 129,498.00 535 7.58%
3 Bank of America Merrill Lynch 114,225.75 384 6.69%
4 Barclays 99,473.36 357 5.83%
5 Goldman Sachs 97,629.05 275 5.72%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 20,423.32 23 9.47%
2 SG Corporate & Investment Banking 14,215.71 38 6.59%
3 Deutsche Bank 13,118.70 35 6.08%
4 Bank of America Merrill Lynch 12,117.87 27 5.62%
5 Citi 11,366.88 31 5.27%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 5,907.08 27 10.40%
2 JPMorgan 4,381.89 22 7.72%
3 Citi 4,165.68 23 7.34%
4 Deutsche Bank 4,050.74 23 7.13%
5 UBS 2,626.72 9 4.63%