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Shinhan Bank gives small premium for tier two bond

Shinhan Bank was forced to pay a new issue premium (NIP) to complete its Basel III-compliant tier two deal on Monday, like most other issuers in recent weeks. But the South Korean borrower still managed to price its bond tighter than expected.

  • By Morgan Davis
  • 20 Mar 2018

Aa3/A+/A rated Shinhan Bank fared better in the dollar market on Monday than other Asian borrowers have recently. Given the soft market backdrop, Shinhan entered the market knowing that it would have to pay a premium, said bankers on the trade.

“This deal is reflective of a market ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
Excludes PPs. Click for full table
1 China Merchants Securities Co 19.83
2 Industrial and Commercial Bank of China (ICBC) 14.01
3 CITIC Securities 11.86
4 Agricultural Bank of China (ABC) 10.78
5 China CITIC Bank Corp 9.70

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
  • Today
1 Goldman Sachs 15,413.27 69 8.05%
2 Morgan Stanley 12,886.62 55 6.73%
3 Citi 12,375.37 79 6.46%
4 UBS 9,710.87 63 5.07%
5 China International Capital Corp Ltd 9,472.18 34 4.95%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 19,674.23 164 7.46%
2 Citi 19,459.80 123 7.38%
3 JPMorgan 12,894.66 75 4.89%
4 Bank of America Merrill Lynch 12,162.96 75 4.61%
5 Goldman Sachs 10,857.82 51 4.12%

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