Senior perp reappears in Asia with MCC

Metallurgical Corporation of China (MCC) was one of a number of Chinese state-owned enterprises to sell bonds in the international market this week, bagging $500m from the first senior perpetual deal in the region in more than a month.

  • By Addison Gong
  • 26 Apr 2018

Asia hasn’t seen a senior perpetual deal since government-owned Tewoo Group and China Minmetals Corp priced their respective perp non-call three year bonds in early March. Since then, the US Federal Reserve has hiked interest rates by 25bp, and the market backdrop has been more volatile.

“Perps ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 18.01
2 Industrial and Commercial Bank of China (ICBC) 15.02
3 CITIC Securities 10.77
4 Agricultural Bank of China (ABC) 9.79
5 China CITIC Bank Corp 8.81

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 15,658.50 72 7.68%
2 Morgan Stanley 13,801.54 62 6.77%
3 Citi 13,609.47 87 6.67%
4 UBS 10,792.88 67 5.29%
5 China International Capital Corp Ltd 10,501.97 40 5.15%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 20,547.73 174 7.46%
2 Citi 20,227.76 130 7.35%
3 JPMorgan 13,591.21 83 4.94%
4 Bank of America Merrill Lynch 12,328.25 77 4.48%
5 Goldman Sachs 11,208.75 54 4.07%

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