RMBS: Chinese banks take aim at Bond Connect

While Bond Connect has opened up China’s booming securitization market, most international investors are only tapping deals originated by foreign auto finance companies. But this is starting to change as Chinese banks prepare to sell residential mortgage-backed securities (RMBS) through the bond link.

  • By Noah Sin
  • 21 May 2018

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GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 19.41
2 CITIC Securities 14.83
3 Agricultural Bank of China (ABC) 13.48
3 Industrial and Commercial Bank of China (ICBC) 13.48
5 China CITIC Bank Corp 12.13

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 29-May-18 CITIC Pacific China 1,000
2 24-May-18 Beijing Enterprises Water Group China 3,000
3 24-May-18 Trafigura Singapore 500
4 09-May-18 Daimler Germany 5,000
5 26-Apr-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,500

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 37.43
2 HSBC 14.26
3 Societe Generale 5.31
4 Bank of Taiwan 4.55
4 Cathay United Bank 4.55

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 07-Jun-18 Export-Import Bank of Korea (Kexim) South Korea 1,500
2 23-May-18 QNB Finance Qatar 600
3 16-May-18 First Abu Dhabi Bank PJSC United Arab Emirates 1,100
4 04-May-18 Busan Bank South Korea 500
5 27-Apr-18 Central American Bank for Economic Integration (CABEI) Honduras 2,000