Cbonds Global Monthly Newsletter Issue Statistics and League Tables, December 2015

• Following the results of 2015, the issue volume of Emerging Market international bonds fell by 25% ($425 mln in 2015 vs. $564 mln in 2014). 53% of the volume was provided by borrowers from Asian Region, 27% - by CEEMEA Region, and 20% - by Latin America. Among the main factors affecting the placement volume, the following ones can be distinguished: the expectations of decrease in FRS interest rate, geopolitical tension in CEEMEA Region, the slowdown in the economic growth of China. The traditional lull was observed in December: $13.3 mln of bonds placed in the primary market is the lowest result of the year.
• HSBC became the leader of the League Table for EM international bonds (Plain Vanilla) for 2015, as it did a year before. The bank placed bonds for a total of $39.6 bln (255 issues) during 12 months. Citigroup was close to the leader with the placement volume of $38.4 bln. JP Morgan ranked third with $30 bln of placed bonds. Deutsche Bank and Bank of America Merrill Lynch took the fourth and the fifth places respectively ($24.6 bln and $24.4 bln).
• The issuers of developed markets (excl. the USA) placed international bonds for $1251 bln in 2015. The TOP 3 in Investment Banks League Table for DM international bonds (Plain Vanilla) is as follows: Barclays ($80.2 bln), HSBC ($77.3 bln), and JP Morgan ($76.1 bln).
• Cbonds Group is happy to announce the return to London with annual bond conference! Save the date in your schedule: April 14-15, 2016. Cbonds Emerging Markets Bond Conference is an updated Cbonds conference, which was held in London from 2010 to 2013. The Conference will join representatives of leading investment banks, management, investment and consulting companies, specializing not only in Russia and CIS, but also in the Central and Eastern Europe. More details: http://www.cbonds-congress.com/events/325/?l=2