• Toyota to end two year China auto ABS absence

    Chinese ABS buyers are gearing themselves up for a rare visit from Toyota. The company’s China auto leasing arm is poised to launch a Rmb3bn ($445m) offering this week following a more than two year absence.

    • 18 Oct 2016
  • Dongfeng Nissan launches fixed/floating rate auto ABS

    Dongfeng Nissan Auto Finance is in the market with its second auto ABS of the year, opening books for a Rmb4bn ($595m) VINZ 2016-2 Retail Auto Loan Securitization on Thursday.

    • 13 Oct 2016
  • 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
  • Beijing Hyundai eyes Rmb3bn return to Autopia

    Beijing Hyundai Auto Finance is set to launch its second Chinese auto loan ABS of the year on Friday, and is eyeing Rmb3bn ($452m) from Autopia China 2016-2 Retail Auto Mortgage Loan Securitization Trust.

    • 02 Aug 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
  • Size matters: BMW prices record China auto loan ABS

    Size was the highlight for BMW Automotive Finance this week as it executed the joint largest China auto ABS by a foreign company, raising Rmb4bn ($607m) with its Bavarian Sky China 2016-1 Trust.

    • 16 Jun 2016
  • SAIC-GMAC to make ABS return with static pool

    SAIC-GMAC Automotive Finance is set for its second China auto ABS of the year, with the Rmb4bn ($609m) Rongteng 2016-2 Retail Auto Mortgage Loan Securitization to launch on Friday. But unlike the company’s trade from February, the upcoming offering will feature a static pool instead of a revolving structure.

    • 13 Jun 2016
  • BMW eyes record Rmb4bn China auto ABS

    BMW Automotive Finance is looking to bring out its Rmb4bn ($609m) Bavarian Sky China 2016-1 Trust next week in what would be the joint largest China auto loan ABS by a foreign company.

    • 10 Jun 2016
  • Dongfeng Nissan makes Rmb3bn auto ABS return

    The Chinese securitization market’s growing comfort with auto ABS was on show last week when Dongfeng Nissan Auto Finance was able to double the amount it was able to raise compared to its most recent outing in 2015.

    • 06 Jun 2016
  • Dongfeng Nissan joins fixed/floating rate ABS trend

    Dongfeng Nissan Auto Finance is set to make its annual return to the ABS market with a Rmb3bn ($457m) VINZ 2016-1 Retail Auto Loan Securitization. But unlike its previous China auto ABS transactions, the company will be selling an additional fixed rate senior tranche when books open on Thursday.

    • 30 May 2016
  • SAIC-GMAC prices landmark revolving China auto ABS

    China’s first revolving auto ABS successfully priced this week with SAIC-GMAC Automotive Finance bagging Rmb3bn ($456m) from the landmark Rongteng 2016-1 Retail Auto Mortgage Loan Securitization.

    • 19 Feb 2016
  • SAIC-GMAC brings China’s first revolving auto ABS

    The China auto ABS market is having a busy start this year with SAIC-GMAC Automotive Finance poised to follow in the footsteps of Beijing Hyundai and Volkswagen to become the third issuer in 2016. But the originator is creating a first for Chinese auto ABS with a revolving structure.

    • 11 Feb 2016
  • VW drives past BMW for tightest priced China auto ABS

    Volkswagen kicked off the Chinese auto ABS market this week, raising Rmb2.99bn ($460m) from the sector’s tightest priced transaction yet.

    • 13 Jan 2016
  • China auto ABS seeks early start with Driver China Three

    The Chinese auto ABS market is revving up for 2016 with Volkswagen poised to launch a Rmb2.99bn ($460m) Driver China Three next week.

    • 06 Jan 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%