Regulations stall Chinese offshore debt issuers

Chinese borrowers are itching to take advantage of cash rich investors in the offshore debt market but many have been delayed by the country’s registration process. This is leading to speculation that the National Development and Reform Commission (NDRC) is trying indirectly to control the outflow of capital. Morgan Davis reports.

  • By Morgan Davis
  • 16 Feb 2017
The NDRC this week picked 11 firms that will be given more flexibility to sell international bonds this year as part of a pilot programme. The scheme, which started last year with 21 borrowers, allows the 11 chosen ones to decide the timing of their bond issuance without ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 28.78
2 CITIC Securities 22.01
3 China CITIC Bank Corp 10.16
4 Industrial and Commercial Bank of China (ICBC) 7.90
4 Everbright Securities 7.90

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 9,696.66 60 5.70%
2 Goldman Sachs 8,791.82 40 5.16%
3 China International Capital Corp Ltd 8,175.96 42 4.80%
4 UBS 7,533.78 55 4.43%
5 Citi 7,277.56 50 4.27%

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Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 27,049.63 178 8.43%
2 Citi 23,096.66 145 7.20%
3 JPMorgan 20,336.44 114 6.34%
4 Bank of America Merrill Lynch 15,766.30 85 4.91%
5 Standard Chartered Bank 13,949.71 104 4.35%

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