Chinese SOEs make debut dollar splash

Four Chinese state-owned enterprises (SOEs) were out in the dollar bond market on Wednesday, looking to seal trades ahead of a China sovereign bond sale on Thursday. But the volatility in the market presented a short-lived opportunity for debt sales and the borrowers’ new notes all slumped in the secondary market.

  • By Morgan Davis
  • 11 Oct 2018
Chinese issuers are pressed to find open issuance windows as the end of the year draws near. The country was shuttered the first week of October for Golden Week celebrations, and the market reopened on Monday to volatility and trade war-related turmoil. But bankers still expect a steady ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 23.98
2 China Merchants Securities Co 16.10
3 Industrial and Commercial Bank of China (ICBC) 13.41
4 Agricultural Bank of China (ABC) 9.76
5 China Securities 8.13

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 8,322.47 36 8.50%
2 Goldman Sachs 7,626.77 29 7.79%
3 Morgan Stanley 5,939.88 38 6.06%
4 China International Capital Corp Ltd 5,848.43 34 5.97%
5 UBS 5,300.03 38 5.41%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 16,555.56 147 8.06%
2 Citi 11,769.92 96 5.73%
3 JPMorgan 11,281.97 76 5.49%
4 Standard Chartered Bank 7,772.74 79 3.79%
5 Bank of America Merrill Lynch 7,442.33 60 3.62%

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