Fujian, Shangrao LGFVs snap up combined $500m

Local government financing vehicles (LGFVs) from Fujian and Jiangxi braved the offshore debt market this week, after share prices across Asia and the US recovered from a bout of volatility. The two companies raised $500m between them.

  • By Addison Gong
  • 08 Feb 2018
Issuers and debt bankers had hoped this week would be a perfect window to lock in funding before US Treasury yields climb further, with borrowers lined up to sell bonds before Chinese New Year shuts the market next week. Those hopes were quickly dashed at the start of ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 21.85
2 China Merchants Securities Co 14.67
3 Industrial and Commercial Bank of China (ICBC) 14.44
4 Agricultural Bank of China (ABC) 8.89
5 China Securities 7.41

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 9,346.38 46 7.81%
2 Goldman Sachs 8,791.68 35 7.35%
3 Morgan Stanley 7,131.69 47 5.96%
4 China International Capital Corp Ltd 6,923.83 42 5.79%
5 UBS 6,281.96 46 5.25%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 21,140.46 182 8.46%
2 Citi 15,676.35 116 6.28%
3 JPMorgan 13,488.58 90 5.40%
4 Standard Chartered Bank 10,193.35 102 4.08%
5 Bank of America Merrill Lynch 9,668.56 74 3.87%

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