Wanda bankers defend premium on 10 year bond

Dalian Wanda Commercial Properties came under criticism this week from bankers who said it paid a hefty premium on last week's $600m 10 year bond to establish a longer dated dollar curve. But bankers on the bond, priced on January 23, argued that a stable performance shortly after pricing vindicated the final yield. The bonds subsequently fell, but the broader emerging market sell-off meant that this widening said little about the initial pricing.

  • By Steven Gilmore
  • 30 Jan 2014

It was Wanda Properties’ first bond since its $600m 2018 debut in November last year. This made Wanda a contender for the fastest return to the market for a debut issuer, said a banker on the new transaction. 

But Wanda, which was focused on yield rather than spread, had ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 CITIC Securities 25.23
2 China CITIC Bank Corp 18.35
3 China Merchants Bank Co 14.91
3 Bank of China (BOC) 14.91
5 Everbright Securities 11.47

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jul 2017
1 CITIC Securities 7,763.12 41 5.89%
2 China International Capital Corp Ltd 7,717.05 36 5.85%
3 Goldman Sachs 6,964.89 30 5.28%
4 UBS 6,293.33 42 4.77%
5 China Securities Co Ltd 5,257.70 29 3.99%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jul 2017
1 HSBC 21,906.29 134 8.88%
2 Citi 18,576.11 115 7.53%
3 JPMorgan 15,143.53 82 6.14%
4 Standard Chartered Bank 11,503.67 80 4.66%
5 Bank of America Merrill Lynch 11,072.09 62 4.49%

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