Cbonds prepared League Tables
of global and regional issuers for 9 months in 2017,following the results of issues in domestic and
foreign debt markets in various economy sectors.
Over the first three quarters the sovereign borrowers
have attracted $183 bn. Comparing to the first year-half, the volume has grown
by $44 bn. The first place is still held by Argentina. During this period the
borrower made 10 issues amounting to $36 bn., but the country didn’t make any
new issues in the third quarter. The second place is held by Saudi Arabia. In
the end of September the Kingdom placed three tranches amounting to $12.5 bn,
with the following maturity periods: 5.5 years, 10.5 years and 30 years. Since the beginning
of the year, the volume of Saudi Arabia issues has totalled $22 bn. The third
place has changed. Turkey took the place of Kuwait, which moved down to the
fourth line. In September Turkey made a tap issue in the amount of $1.7 bn.
Among DM countries that use international markets, only one country was ranked
TOP-30, and that was Sweden. It took the 10th place with the total issued
volume of $5 bn.
Over the 9 months’ period, non-financial
companies from emerging and developed countries have attracted $1547 bn in
domestic and international markets. Comparing to the first half-year, the issue
volume has risen by $511 bn. The first five places were taken by AT&T Inc.
($46 bn), Verizon Communications ($42 bn), Apple ($29 bn), British American
Tobacco ($19 bn) и Petrobras ($18 bn). Note that British American Tobacco
didn’t enter the debt markets in the first year-half; all its issues were made
in the third quarter (http://cbonds.com/emissions/issue/339987). In the previous League Tables Petrobras was in the
middle of TOP-30 non-financial borrowers. In September the company exchanged
its old issues to the new ones, which fact allowed the company to get into the
Financial companies have attracted $1808 bn. in
the domestic and foreign markets. The first place is held by European
Investment Bank. It placed 90 issues amounting to $53 bn. It is followed by
Deutsche Bank (58 issues amounting to $51 bn), the European Financial Stability
Facility (12 issues amounting to $43 bn), Landesbank Hessen-Thueringen (262
issues amounting to $38 bn) and Goldman Sachs (32 issues amounting to $31 bn).
Non-financial corporations from EM have
attracted $236 bn comparing to $151 bn in the first half-year. In the TOP-5: Petrobras, Pemex, China
Evergrande Group, Sinopec, China National Chemical Corporation. In total they
placed $48 bn, or 20% of the entire market.
Banks and financial institutions of EM segment have borrowed $189 bn. Asian
Development Bank continues to hold the leadership position. It placed 41 bonds
totalling $23 bn. It is followed by Postal Savings Bank of China; the bank made
only one subordinated issue for $7.2 bn (http://cbonds.com/emissions/issue/357159).
The third place is held by African Development Bank, which made 31 issues with
the total nominal value of $5.2 bn.
Following the results of the 9 month’s period,
the total volume of issues of the government and corporate sector of CIS totals
$41 bn. TOP-5 of the issues: KazMunaiGas ($2.75 bn), Gazprom ($2.321 bn), Norilsk Nickel ($1.5 bn), VEON Holdings ($1.5 bn) and RUSAL
Plain vanilla bonds that were issued by
governments, companies and banks are also included in the League Tables of
issuers. The League Tables don’t
include bonds with the maturity periods less than 365 days, CDO, securitization
and structured instruments. The League Tables’ currency is US Dollar. All
issues made in any other currencies were converted into USD at the exchange rate
prevailing at the date of the bonds issue.