Ukrainian companies raise $6.39 billion through Eurobonds issuance in 2011
2012-01-12 16:38:27
Morgan Stanley, VTB Capital and JP Morgan most actively helped Ukrainian issuers to place their eurobonds last year. These three investment banks accounted for 68.3% of all the Ukrainian placements. This is evidenced by the CIS Eurobond underwriter banks ranking made by IA Cbonds on the basis of the 2011 returns.
The frontrunner is Morgan Stanley ($1.78 billion, or 27.8% market share), followed by VTB Capital ($1.50 billion or 23.5% market share) and JP Morgan ($1.08 billion, or 16.95% market share).
The last of the top five are Credit Suisse with a share of 12.1% ($0.78 billion) and Deutsche Bank - 5,1% (0.33 billion). Among the top 10 underwriters for Ukraine there are also the Swiss bank UBS, British RBS, ING Wholesale Banking (London) and the 'Americans' - Citigroup and Bank of America Merrill Lynch.
In total, this dozen investment banks organized raising 98.6% of Ukrainian Eurobond issuers' funds.
Overall for the year, Ukrainian companies managed to raise $6.39 billion through the issuance of Eurobonds. Most yields came in the first half of 2011, which provided 96% of all proceeds from Eurobonds.
During the fourth quarter Ukrainian issuers did not carry out a single Eurobond placement, and in the third quarter they managed to raise only $250 million.