Latest equity-linked news

  • Neo Solar shines with $120m SBLC-backed CB

    Taiwanese solar cell manufacturer Neo Solar Power has raised $120m from a zero coupon convertible bond backed by a standby letter of credit (SBLC). The deal was driven by a hefty fall in NSP’s stock price, pushing the issuer to redeem its outstanding notes early.

    • 19 Oct 2016
  • Haitong woos investors to zero coupon HK$4bn CB

    Haitong International Securities Group has printed its first convertible bond in two years. It is the first zero coupon CB from an international arm of a Chinese securities house, said bankers close to the deal.

    • 12 Oct 2016
  • Morgan Stanley reigns supreme in Asia ECM

    For the nine months through September, Morgan Stanley topped the Asia ex-Japan ex-onshore China ECM bookrunning league table with $9.41bn in deals, according to Dealogic. It was also the only bank with double-digit market share.

    • 06 Oct 2016
  • Asia ECM starts strong in Q4 as momentum builds

    After a challenging first half, equity capital markets bankers in Asia can breathe a little easier knowing that momentum from the third quarter will carry on into a busy end to the year. But with macro headwinds such as the US elections looming over markets, issuers will have to remain on their toes, writes John Loh.

    • 06 Oct 2016
  • BAML loses head of southeast Asia ECM, equity-linked

    Bank of America Merrill Lynch’s head of southeast Asia equity capital markets has left the firm, amid a wider reshuffle of its Asian investment banking business that resulted in a number of departures.

    • 04 Oct 2016
  • Zhejiang Expressway to bring $400m H-share CB

    Zhejiang Expressway Co is looking to sell equity-linked debt worth up to $400m, testing the market’s appetite for scarce H-share convertible paper as Asian primary issuance remains muted.

    • 03 Oct 2016
  • Thailand's CP Foods dishes out $300m EB

    Thailand’s CP Foods Holdings has raised $300m from an exchangeable bond, returning to the equity-linked market after a hiatus of nearly three years.

    • 19 Sep 2016
  • China’s nets $2.2bn from block, CB combo

    US-listed Chinese travel company International has raised $2.2bn after pricing a convertible bond and a block of American Depositary Shares.

    • 08 Sep 2016
  • Khazanah ends two year slumber with equity linker

    Malaysian sovereign wealth fund Khazanah Nasional threw open Asia’s equity-linked market this week, issuing a $398.8m exchangeable sukuk to much fanfare. The deal has revived Khazanah’s presence in the market and comes two years after it struggled to pull off a similar transaction. Jonathan Breen reports.

    • 01 Sep 2016
  • Suntec prints rare S$300m Reit CB

    Singapore’s Suntec real estate investment trust (Reit) sold its first convertible bond in three years on Thursday, raising S$300m ($223.1m) after exercising the full greenshoe on the deal.

    • 12 Aug 2016

Equity-linked news archive

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%