Panda hit: Foreign investors line up for Philippines’ debut

There was a rare sighting in the Panda bond market this week, as international investors outnumbered their onshore counterparts. The Republic of the Philippines completed its first transaction in the asset class, taking home Rmb1.46bn ($230.8m).

  • By Noah Sin
  • 21 Mar 2018

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GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 18.47
2 Agricultural Bank of China (ABC) 16.20
2 CITIC Securities 16.20
4 China CITIC Bank Corp 14.58
5 Industrial and Commercial Bank of China (ICBC) 11.34

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 11-Apr-18 China Jinmao Holdings China 3,000
2 11-Apr-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,200
3 04-Apr-18 China Resources Land China 4,000
4 03-Apr-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 4,000
5 28-Mar-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,200

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 31.44
2 HSBC 13.75
3 Bank of Taiwan 5.57
3 Cathay United Bank 5.57
5 Societe Generale Securities Services 4.83

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 19-Apr-18 Shui On Development (Holdco for Shui On Land) China 600
2 10-Apr-18 Bank of China Taipei Branch (BOC Taipei) China 3,000
3 27-Mar-18 Daimler International Finance Germany 1,000
4 26-Mar-18 CAR Inc China 400
5 19-Mar-18 Beijing Capital Polaris Investment China 630