Total Derivatives: Liquidity concerns back paying in CNY swaps

Despite the PBoC having injected a record amount of funds into China's financial system this week, liquidity concerns are rising ahead of the Chinese New Year break. The fixings pushed higher and shorter NDIRS were well bid on Wednesday morning. Looking forward though sources see limited scope for further upside, writes Deirdre Yeung of Total Derivatives.

  • By GlobalCapital
  • 19 Jan 2017

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 CITIC Securities 27.31
2 China CITIC Bank Corp 16.81
3 China Merchants Bank Co 13.66
3 Bank of China (BOC) 13.66
5 Everbright Securities 10.50

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 21-Jul-17 Maybank Malaysia 1,000
2 20-Jul-17 Longfor Properties China 2,000
3 10-Jul-17 China Jinmao Holdings China 2,500
4 07-Jul-17 China Everbright Holdings China 2,500
5 23-Jun-17 Bank of China Group Investment China 1,500

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 JP Morgan 49.70
2 Barclays 10.06
2 Citi 10.06
2 HSBC 10.06
2 Bank of China (BOC) 10.06

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 01-Jun-17 Ocean Wealth (Parent: China Orient Asset Management) China 632
2 11-Apr-17 Bank of China Johannesburg Branch (BOC Johannesburg) China 1,500
3 22-Feb-17 Ocean Wealth (Parent: China Orient Asset Management) China 850
4 28-Nov-16 Loncin Holdings China 800
5 04-Nov-16 China Nuclear Engineering Group China 1,500