Wuhan, Hefei continue Chinese LGFV bond onslaught

Wuhan State-Owned Asset Management Company (WSAM) and Hefei Industry Investment Holding (Group) Co added to the recent issuance momentum from Chinese local government financing vehicles, with each printing $300m bonds on Thursday.

  • By Addison Gong
  • 08 Dec 2017

Issuance from LGFVs has finally perked up following a very quiet year, with a flurry of borrowers from areas like Gansu, Inner Mongolia, Tianjin, Qingdao, Yiwu and Yunnan selling bonds over the past few weeks.

This week alone, three issuers Qingdao Conson Development (Group) Co, Chengdu ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 28.62
2 CITIC Securities 21.06
3 China CITIC Bank Corp 9.72
4 China Merchants Bank Co 9.18
5 Industrial and Commercial Bank of China (ICBC) 7.56

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 16,270.37 85 6.33%
2 UBS 14,128.60 88 5.50%
3 Goldman Sachs 11,744.39 58 4.57%
4 China International Capital Corp Ltd 11,422.00 55 4.45%
5 Morgan Stanley 10,900.56 58 4.24%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 35,178.30 245 8.08%
2 Citi 34,267.00 196 7.88%
3 JPMorgan 26,001.66 142 5.98%
4 Bank of America Merrill Lynch 21,396.54 110 4.92%
5 Standard Chartered Bank 19,923.39 139 4.58%

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