• NPL securitization takes centre stage with triple decker

    It has been a busy period for the structured finance community in China with three lenders securitizing a combined Rmb3.28bn ($491m) worth of non-performing loans (NPLs) in the space of a week.

    • 29 Sep 2016
  • Chinese trio set stage for NPL securitization bonanza

    Non-performing loans (NPLs) securitization is heating up with China Construction Bank (CCB) scheduled for a Rmb1.56bn ($234m) return on Friday, just three days after making its debut in the asset class. It will not be alone, with ICBC also set for a Rmb1.08bn offering on Friday, while China Merchants Bank will cement its third appearance next week.

    • 22 Sep 2016
  • CCB to make NPL securitization debut

    China Construction Bank (CCB) is set to become the fourth Chinese lender to securitize nonperforming loans (NPLs) with a Rmb702m ($105m) offering scheduled to launch on September 20.

    • 14 Sep 2016
  • ABC keeps NPL securitization momentum going

    The budding Chinese non-performing loans securitization market recorded its fourth transaction in little more than two months with Agricultural Bank of China (ABC) completing a Rmb3.06bn ($462m) offering — the largest on record since the asset class restarted this year.

    • 01 Aug 2016
  • PSB constructs China’s first internationally rated RMBS

    Foreign investors have got their first taste of Chinese residential mortgage backed securities after Postal Savings Bank of China managed to draw them in with the inaugural internationally rated offering from the asset class.

    • 12 Jul 2016
  • Chinese RMBS goes international with PSB

    The Chinese securitization market is set for a big boost with Postal Savings Bank of China scheduled to launch the country’s first internationally rated residential mortgage-backed securitization (RMBS) on Thursday.

    • 04 Jul 2016
  • CMB seals NPL securitization return with micro loans

    China is pushing on with the development of its non-performing loans securitization market, which only restarted last month, with China Merchants Bank (CMB) sealing the asset class’s third transaction.

    • 30 Jun 2016
  • China NPL securitization extends to micro loans

    China’s non-performing loans securitization market is quickly taking shape with China Merchants Bank set to launch the asset class’s third transaction following its restart last month. And the upcoming trade features a new type of underlying assets – micro loans.

    • 23 Jun 2016
  • China Securitization Forum 2016: Winners

    GlobalCapital was one of the judges for the China Securitization Forum’s annual awards in April. Twenty transactions were given plaudits in credit and corporate asset securitization with six singled out as outstanding. We present the winners and photos from the event.

    • 30 May 2016
  • Mandate out for landmark Philippine housing securitization

    Philippine property developer 8990 Holdings has picked China Bank Capital Corp to arrange and underwrite its upcoming Ps5bn ($107m) securitization of housing receivables.

    • 25 Apr 2016
  • NPL securitization takes centre stage at CSF 2016

    The securitization of non-performing loans was the main topic of discussion at the China Securitization Forum 2016 in Beijing as the market gets to grips with the new product.

    • 14 Apr 2016
  • NPL ABS to get off-balance sheet treatment

    The securitization of non-performing loans by Chinese banks is gaining plenty of traction as they are set to achieve off-balance sheet accounting treatment — one of the major hurdles for the development of the asset class.

    • 14 Apr 2016
  • Food for thought for buyers of Chinese NPL securitization

    China’s plans to reduce the pressure on its financial sector by pushing banks to securitize non-performing loans (NPLs) is plausible. But several conditions will first have to be met for the product to take off, according to Bank of America Merrill Lynch’s head of international structured finance research Alexander Batchvarov.

    • 14 Apr 2016

Panda Bonds Top Arrangers

Rank Arranger Total Volume Rmb (m) No. of Deals Share % by Volume
1 Bank of China (BOC) 7,500 5 22.26
2 Agricultural Bank of China (ABC) 4,000 2 11.87
2 Everbright Securities 4,000 1 11.87
4 Industrial and Commercial Bank of China (ICBC) 3,500 2 10.39
5 HSBC 3,000 2 8.90

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Oct 2016
1 CITIC Securities 14,399.87 54 6.41%
2 Morgan Stanley 11,680.45 48 5.20%
3 GF Securities Co Ltd 11,254.82 44 5.01%
4 Deutsche Bank 8,929.93 36 3.97%
5 China Securities Co Ltd 8,568.28 45 3.81%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 11 Oct 2016
1 HSBC 24,211.67 144 4.82%
2 Citi 23,007.32 123 4.58%
3 Bank of America Merrill Lynch 20,229.47 98 4.03%
4 JPMorgan 18,255.12 103 3.63%
5 Goldman Sachs 11,241.68 45 2.24%