Asian DCM bankers gear up for tightly priced bonds

Asian dollar debt issuers breathed a sigh of relief this week as spreads tightened in secondary and the market stabilised on Thursday, following a widely expected interest rate hike announcement by the US Federal Reserve. The path is now clear for more aggressively priced bonds in the coming weeks, say market watchers. Morgan Davis reports.

  • By Morgan Davis
  • 16 Mar 2017

For more than a week now, Asia DCM was in a wait-and-see mode, with slowing new issuance ahead of the Fed meeting on Tuesday and Wednesday, despite the market having priced in a rate rise.

Just three issuers in Asia ex-Japan ventured into the dollar market this week, ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 28.15
2 CITIC Securities 21.52
3 China CITIC Bank Corp 9.93
4 China Merchants Bank Co 9.38
5 Industrial and Commercial Bank of China (ICBC) 7.73

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 13,827.70 78 5.93%
2 UBS 13,644.76 81 5.85%
3 Goldman Sachs 10,607.81 53 4.55%
4 Morgan Stanley 9,964.98 53 4.28%
5 China Securities Co Ltd 9,861.82 46 4.23%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 31,212.38 211 8.11%
2 Citi 29,616.03 180 7.69%
3 JPMorgan 23,422.21 136 6.08%
4 Bank of America Merrill Lynch 19,805.99 103 5.14%
5 Standard Chartered Bank 16,034.80 121 4.16%

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