Top Stories

  • ICBC NY drops 10yr on pricing expectations mismatch

    Industrial and Commercial Bank of China’s New York branch was forced to scrap a 10 year portion of a dual tranche bond on Monday because of a disagreement with investors over what it should pay. But all was not lost, as the issuer decided to make the most of the demand for the shorter tenor, taking home $1bn in the end, writes Addison Gong.

    • 20 Oct 2016
  • Julius Baer spices up Sing dollar market with AT1

    Julius Baer made a successful comeback to the Singapore dollar market on October 13, shrugging off concerns around the downgrade of its existing subordinated notes to raise S$325m ($235m) from an additional tier one.

    • 20 Oct 2016
  • Philippines’ BDO returns to dollars after hiatus

    Philippine lender BDO Unibank issued its first dollar bond in four years on Monday, amid a busy day of primary issuance in Asia ex-Japan.

    • 20 Oct 2016


  • Indian AT1s: not at any price

    The prospect of the first international bank capital trade from India is closer with State Bank of India on the road this week for a dollar-denominated additional tier one. While it has picked a good window, it needs to get the pricing right or risk derailing the rest of the market.

    • 13 Sep 2016

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  • ICBC Tokyo taps Pro-Bond market with dim sum

    Industrial and Commercial Bank of China’s Tokyo branch sold a Rmb500m ($73.8m) dim sum bond on Tuesday — the first offshore renminbi Pro-Bond to be sold in Japan. The transaction was a successful attempt to draw attention from Japanese investors, with the issuer managing to save costs compared to its dollar funding, according to bankers.

    • 26 Oct 2016

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From Our Global Coverage

  • Monte rescue falls flat with CDS traders

    Credit investors, whether in cash or synthetics, often welcome corporate restructurings by distressed firms. Job cuts, rationalisation of operations and, in particular, asset sales are usually regarded as bondholder friendly actions.

    • 26 Oct 2016
  • Hammond kicks off Bradford & Bingley feeding frenzy

    UK chancellor Philip Hammond fired the starting pistol on the government’s sale of the £16bn portfolio of former Bradford & Bingley buy-to-let mortgages on Tuesday, in what will be the largest sale of assets by a European government.

    • 26 Oct 2016

More from Asia

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
  • 26 Oct 2016
1 CITIC Securities 15,417.46 59 6.69%
2 Morgan Stanley 11,809.74 49 5.12%
3 GF Securities Co Ltd 11,402.65 45 4.95%
4 Deutsche Bank 8,930.26 36 3.87%
5 China Securities Co Ltd 8,697.57 46 3.77%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 25 Oct 2016
1 HSBC 25,655.98 155 9.54%
2 Citi 24,170.03 132 8.99%
3 Bank of America Merrill Lynch 21,409.23 104 7.97%
4 JPMorgan 18,713.00 109 6.96%
5 Goldman Sachs 12,065.00 52 4.49%