Zhenro takes ‘interesting’ approach to bookbuilding

China's Zhenro Properties Group opted for a slightly unusual bookbuilding process for its debut public dollar transaction, paying a yield of 11.5% for a two year bond.

  • By Addison Gong
  • 22 Jun 2018
When the mandate announcement came out on Wednesday morning, global co-ordinators CCB International, CEB International, Guotai Junan International, Haitong International and UBS also released initial price thoughts in the 11.5% area to collect feedback and indications of interest. They also told the market the deal will be priced ...

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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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