Borrowers eye HKD loans as Libor-Hibor gap jumps wider

The widening gap between Libor and Hibor, which reached the highest level in 10 years on Wednesday, is pushing Hong Kong and Chinese borrowers to the Hong Kong dollar-denominated loans market. But while the possibilities for opportunistic deals are plenty, bankers warn the window won’t be open for too long. Pan Yue reports.

  • By Pan Yue
  • 22 Mar 2018
The difference between three month US dollar Libor — the benchmark rate for short-term financing in the currency — and its equivalent in Hong Kong dollars stood at a whopping 117bp on Wednesday, when Libor hit a new high for a decade of 227bp. The US dollar benchmark rate ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 22.39
2 CITIC Securities 13.39
3 Agricultural Bank of China (ABC) 12.17
3 Industrial and Commercial Bank of China (ICBC) 12.17
5 China CITIC Bank Corp 10.95

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 12,347.28 50 8.24%
2 Citi 10,937.22 60 7.30%
3 Morgan Stanley 9,919.63 37 6.62%
4 China International Capital Corp Ltd 8,029.16 28 5.36%
5 China Securities Co Ltd 7,436.55 29 4.97%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 15,482.29 121 7.37%
2 Citi 14,496.34 91 6.90%
3 JPMorgan 10,369.33 52 4.93%
4 Bank of America Merrill Lynch 9,897.67 56 4.71%
5 Goldman Sachs 9,025.15 40 4.29%

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