• NHAI starts Masala bond roadshow

    National Highways Authority of India is preparing investors for a new Masala transaction, the issuer’s first in the offshore rupee market.

    • 24 Apr 2017
  • Fosun grabs investor interest for $600m tap

    Fosun International scored an additional $600m from a tap of its $800m 5.25% 2022s last Friday, making it the largest Chinese high yield non-property deal in almost three years.

    • 24 Apr 2017
  • HPCL-Mittal eyes debut as SOCAM, K-Water mandate

    As the perceived European political risk reduced following the results of the first round of French elections, Asian debt markets opened on Monday to a deal from India's HPCL-Mittal Energy (HMEL).

    • 24 Apr 2017
  • Want Want, China SCE seize window to sell combined $800m

    Want Want China Finance and China SCE Property sold $500m and $300m of notes respectively on Thursday, as both hit the market before the expected rush investment grade names next week.

    • 21 Apr 2017
  • CMP raises Rmb2.5bn from ‘Silk Road’ Panda

    China Merchants Port Holdings (CMP) successfully raised Rmb2.5bn ($363.4m) from a five year Panda bond on the interbank market on Thursday. The company is presenting the trade as a Silk Road bond, even though all of the proceeds will be used onshore.

    • 21 Apr 2017
  • Fosun back for tap of $800m March deal

    Fosun International has opened a tap of its March-issued $800m 5.25% 2022s, following reverse inquiry.

    • 21 Apr 2017
  • Times Property hits $600m 2017 issuance quota

    China’s Times Property Holdings sealed a quick $225m deal on Wednesday to reach the upper limit on its offshore issuance cap for the year.

    • 20 Apr 2017
  • Want Want, SCE Property market dollar deals

    Chinese corporate names Want Want China Finance and China SCE Property were out in the market on Thursday morning.

    • 20 Apr 2017
  • Halcyon Agri pursues perp, ICBC Singapore seeks FRNs

    Wednesday proved yet another robust day for Asian bonds, with rubber company Halcyon Agri Corporation, Industrial and Commercial Bank of China’ Singapore branch and Chinese developer Times Property Holdings out for funds in the primary market.

    • 19 Apr 2017
  • Time for China to loosen its grip on issuers

    Chinese regulators are keeping a tight control on offshore bond flows this year, as issuers report a lengthy registration process and an inconsistent approach to approvals. With borrowers itching to go offshore before the market backdrop becomes unreceptive, China’s overbearing approach could very well backfire.

    • 18 Apr 2017
  • Malaysia's Cagamas returns to dollars

    Malaysia’s Cagamas Berhad kicked open the Tuesday market with the launch of a new dollar offering, while Saka Energi Indonesia announced its pursuit of a new dollar deal as well.

    • 18 Apr 2017
  • Pre-Easter blowout hatches Asian bond deals

    Aluminum Corp of China, Peking University Founder Group, Beijing Enterprises Holdings and Singapore’s Oxley Holdings all walked away with new bonds on Wednesday, wrapping up a blockbuster issuance week ahead of Easter.

    • 13 Apr 2017
  • CEEMEA sees $16bn of supply in three days as risk appetite swells

    Risk appetite propelled CEEMEA into a bullish second quarter with nearly $16bn of bonds printed in Easter week. Saudi Arabia led the charge with a $9bn sukuk, but demand for duration played into the hands of KazMunayGas which raised $1.25bn of 30 year debt.

    • 12 Apr 2017
  • Lianyungang Port, Golden Wheel grab $500m

    Lianyungang Port Group and property developer Golden Wheel Tiandi Holdings Company raised a combined $500m on Tuesday, wrapping up their fundraisings ahead of Easter.

    • 12 Apr 2017
  • China Oil, Yida and Citic serve up bond feast

    Chinese corporates and FIGs contributed to most of the primary supply in Asia DCM on Tuesday, with China Oil and Gas Group, Yida China Holdings and Citic Securities snapping up a combined $1.45bn.

    • 12 Apr 2017
  • CCB Life, Oxley among Wednesday bond hopefuls

    The slightly softer tone in the Asian markets on Tuesday did not deter issuers from flocking to the debt market, with as many as eight borrowers bagging new bonds. And the momentum continued on Wednesday, with a handful of firms opening their transactions.

    • 12 Apr 2017
  • Asia DCM in a frenzy as Easter holiday looms

    Asia’s primary DCM market is busy on Tuesday ahead of the long Easter weekend, with Lianyungang Port Group, China Oil and Gas Group, Yida China Holdings and Golden Wheel Tiandi Holdings Company opening books for their respective dollar bonds.

    • 11 Apr 2017
  • Greater China corps flood market with mandates

    Yida China Holdings, Peking University Founder Group Company, Red Star Macalline Group Corp and HKICIM Group are looking to hit the offshore debt market, mandating banks for their respective Reg S transactions on Monday.

    • 10 Apr 2017
  • Regal Hotels checks out with $225m perp

    Regal Hotels International Holdings locked in $225m on Thursday from a fixed-for-life perpetual non call five on the back of over $1bn of demand at its peak. While the issuer timed its deal well, it was not everyone’s cup of tea, said bankers.

    • 07 Apr 2017
  • Modernland Realty builds $240m deal

    Indonesian developer Modernland Realty closed a modest $240m deal on Thursday, against a weaker market backdrop in Asia.

    • 07 Apr 2017
  • Yanzhou Coal excavates $500m from senior perp

    Yanzhou Coal Mining Company saw a very different outcome to its perpetual bond this week, managing to price through its theoretical fair value. In comparison, the borrower paid up three years ago for its last perp outing.

    • 07 Apr 2017
  • Triple-C Indika wins stamp of approval from investors

    Indonesia’s triple-C rated Indika Energy priced a $265m bond on Monday on the back of a nearly five times subscribed book. The issuer’s rating story was complicated by downgrades over the past year, but investors were willing to consider its likely future as a B2 rated credit. Morgan Davis reports.

    • 06 Apr 2017
  • Improved financials help Jingru seal $400m comeback

    Chinese property developer Jingrui Holdings leveraged off a yield-hunting environment and its strong financial improvement to raise $400m from its return to the offshore debt market this week.

    • 06 Apr 2017
  • India’s JSW Steel feeds yield hungry investors

    India’s JSW Steel raised $500m from its new five year notes on Wednesday, finding strong support from European accounts familiar with its credit and business.

    • 06 Apr 2017
  • Yancoal, Regal Hotel dig for dollar perps

    Issuers from Greater China, including Yanzhou Coal Mining Company (Yancoal) and Regal Hotels International Holdings, have opened books for new perpetual notes, while China Oil and Gas Group has mandated firms for its return.

    • 06 Apr 2017
  • Modernland Realty adds to Indonesia pipeline

    Modernland Realty launched a new dollar deal on Thursday, following on the success of other high yield Indonesian names this year.

    • 06 Apr 2017
  • Investor reception overwhelms Indika’s bond outing

    Indonesia’s triple-C rated Indika Energy grabbed $265m from a new deal on Monday, on the back of a five times subscribed book fueled by yield hungry investors.

    • 05 Apr 2017
  • Sinopec, Jingrui roll out bonds on back of robust results

    China Petrochemical Corp was out for a 144A/Reg S transaction on Wednesday, eyeing multiple maturities, while high yield issuer Jingrui Holdings has returned to dollars after a two year hiatus.

    • 05 Apr 2017
  • Modernland Realty searching for dollars

    Indonesia’s Modernland Realty is preparing for a new US dollar bond this week, following compatriot property issuer Pakuwon Jati’s tightly priced February deal.

    • 03 Apr 2017

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 18.01
2 Everbright Securities 16.95
3 Agricultural Bank of China (ABC) 10.59
4 HSBC 6.99
5 Industrial and Commercial Bank of China (ICBC) 6.36

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Apr 2017
1 China International Capital Corp Ltd 5,979.41 23 8.62%
2 CITIC Securities 5,733.11 24 8.26%
3 Goldman Sachs 4,331.34 14 6.24%
4 China Securities Co Ltd 3,641.05 21 5.25%
5 UBS 3,599.31 16 5.19%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 11 Apr 2017
1 HSBC 12,683.81 72 4.73%
2 Citi 9,683.70 55 3.61%
3 JPMorgan 9,547.26 48 3.56%
4 Morgan Stanley 7,224.90 33 2.69%
5 Standard Chartered Bank 6,398.04 37 2.38%

Asian polls & awards

  • RMB internationalisation: 10 questions for the market, part 2

    Every year, our sister publication Asiamoney carries out an Offshore RMB Poll. As part of that process, the magazine asks the market for its thoughts on important renminbi topics. In this third year, we received around 2,300 valid responses, up 3% on a year ago. The ten questions included a new one on the inclusion of onshore RMB assets in global indices. Here we present the answers to the final five questions.

  • RMB internationalisation: 10 questions for the market, part 1

    Every year, our sister publication Asiamoney carries out an Offshore RMB Poll. As part of that process, the magazine asks the market for its thoughts on important renminbi topics. In this third year, we received around 2,300 valid responses, up 3% on a year ago. The ten questions included a new one on the inclusion of onshore RMB assets in global indices. Here we present the answers to the first five questions.

  • Made in China: The best banks and deals of 2016

    You know who won, now find out why. GlobalCapital Asia and Asiamoney present the extended results of our 2016 China Deals and Investment Bank of the Year awards, recognising achievement both on and offshore.

  • Asia’s standout deals

    GlobalCapital Asia and Asiamoney present the extended results for our 2016 Best Country Deals. Discover why these bond, equity and loan transactions delivered outstanding outcomes for issuers and investors.

  • Aussie award winners: The best banks and deals of 2016

    The names have been announced, now find out why they stood out from the crowd. GlobalCapital Asia and Asiamoney present the extended results for our 2016 Australia Deals and Investment Bank of the Year awards, recognising achievement in equities, bonds, loans and investment banking.