12. Emerging Markets

Emerging Markets - Winner: VimpelCom

Bookrunners: ABN Amro, Barclays Capital, BNP Paribas, Calyon, Citi, HSBC, ING, UBS

VimpelCom, a Russian telecommunications firm, was in the vanguard of new emerging markets issuance in April with a dual-tranche trade of $2 billion, following a hiatus in the sector lasting six months. The issue followed hot on the heels of a deal from Russian steel producer Evraz.

"This is the largest issue from a private Russian borrower, and they were able to achieve it be