Chavez’s Russia Bank Beats Citigroup in Venezuela Bond Sales
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A Russian bank whose biggest shareholder is the Venezuelan government is overtaking Citigroup Inc., Credit Suisse Group AG and Deutsche Bank AG in bond underwriting in the South American country.
Evrofinance Mosnarbank SA managed $3.6 billion in bond deals from the Venezuelan government this year, while Credit Suisse, Deutsche Bank and Citigroup followed with $3 billion, $2.1 billion and $1.5 billion respectively including securities sold by state-owned oil company Petroleos de Venezuela SA, according to data compiled by Bloomberg. Evrofinance didn’t do any deals in Venezuela last year, when Citigroup ranked first with $3 billion.