China Orient AM pays up for $2bn triple-tranche deal

China Orient Asset Management Corp pulled off an end of the year $2bn triple-tranche bond on Wednesday, but was forced to give investors a generous premium to get the deal done.

  • By Morgan Davis
  • 14 Dec 2017
China Orient, like many other mainland issuers this month, hit the market to use its regulatory quota for offshore issuance before the end of the year. But while borrowers are continuing to sell new deals, liquidity is beginning to dry up and issuers have to be ready to ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 17.33
2 Industrial and Commercial Bank of China (ICBC) 14.45
3 CITIC Securities 10.36
4 Agricultural Bank of China (ABC) 9.42
5 China CITIC Bank Corp 8.48

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Rank Lead Manager Amount $m No of issues Share %
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1 Goldman Sachs 15,658.50 72 7.63%
2 Morgan Stanley 13,921.33 63 6.78%
3 Citi 13,640.97 88 6.65%
4 UBS 10,835.65 68 5.28%
5 China International Capital Corp Ltd 10,501.97 40 5.12%

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Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 21,228.68 180 7.62%
2 Citi 20,461.80 132 7.34%
3 JPMorgan 13,802.40 85 4.95%
4 Bank of America Merrill Lynch 12,328.25 77 4.42%
5 Goldman Sachs 11,208.75 54 4.02%

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