Bond market revival gives second chance to debut issuers

A receptive market and generous pricing worked in favour of China’s Concord New Energy Group and Indonesia’s Sawit Sumbermas Sarana (SSMS) this week, as both managed to pull off debut dollar bonds two months after failed attempts. Morgan Davis reports.

  • By Morgan Davis
  • 18 Jan 2018
A few months is a lifetime in the credit markets, as Concord and SSMS found this week. When the two companies approached investors in November with their first attempts at selling dollar bonds, the market backdrop was weak and investors were cautious about their year-end investments, forcing both ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 21.76
2 Agricultural Bank of China (ABC) 15.11
2 CITIC Securities 15.11
4 China CITIC Bank Corp 13.60
5 Industrial and Commercial Bank of China (ICBC) 10.58

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 9,879.80 45 8.57%
2 Morgan Stanley 8,550.75 29 7.41%
3 Goldman Sachs 8,123.16 33 7.04%
4 China International Capital Corp Ltd 6,725.31 16 5.83%
5 China Securities Co Ltd 6,118.37 18 5.31%

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Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 HSBC 12,683.22 97 7.33%
2 Citi 11,177.13 70 6.46%
3 JPMorgan 8,594.04 39 4.96%
4 Goldman Sachs 8,568.36 34 4.95%
5 Bank of America Merrill Lynch 7,868.54 41 4.54%

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