Dah Sing kicks off critical year for Asian bank capital

Hong Kong’s Dah Sing Bank priced a popular $225m Basel III-compliant tier two deal, starting the market on a strong note in a year where more than $24bn of capital bonds from Asia are coming up for call.

  • By Addison Gong
  • 09 Jan 2019

The A2/—/BBB+ rated lender’s outstanding $225m 5.25% 2024 subordinated bond will become callable at the end of this month. To replace those notes, Dah Sing came to the market with a new tier two on Tuesday.

Bookrunners and lead managers Citi and HSBC announced initial guidance for ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 14.44
2 Industrial and Commercial Bank of China (ICBC) 11.65
3 Bank of China (BOC) 10.33
4 CITIC Securities 8.41
5 Agricultural Bank of China (ABC) 7.17

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 1,075.14 2 13.84%
2 CITIC Securities 952.42 4 12.26%
3 Bank of China 754.84 3 9.72%
4 China International Capital Corp Ltd 721.75 3 9.29%
5 Guotai Junan Securities Co Ltd 668.93 3 8.61%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 2,199.70 15 11.58%
2 Citi 1,502.15 13 7.91%
3 JPMorgan 1,192.62 8 6.28%
4 UBS 1,022.45 9 5.38%
5 Standard Chartered Bank 1,009.43 7 5.31%

Asian polls & awards

  • GlobalCapital Asia capital markets awards 2018: Investment banks

    In the fourth and final instalment of GlobalCapital Asia’s capital markets awards announcements, find out the Best Asian Investment Bank and the Best Investment Bank in the region for 2018.

  • GlobalCapital Asia capital markets awards 2018: Bonds

    In part three of our results announcements, we reveal the winning bond deals across a variety of categories. In addition, we also name the Best G3 Bond House, Best Local Currency Bond House, Best High Yield Bond House and the debut winner of the Best House for SRI Financing.

  • GlobalCapital Asia capital markets awards 2018: Equities

    In part two of our results announcements, we reveal the winning equity deals and banks, including the Best Follow-on/Accelerated Bookbuild, Best Equity-Linked Deal, Best IPO, Best ECM Deal and Best ECM House.

  • GlobalCapital Asia capital markets awards 2018: Loans

    GlobalCapital Asia has spent the last two months talking to banks and their clients in a bid to determine the most impressive capital markets transactions and advisers across Asia ex-Japan in 2018. We are pleased to begin our awards announcements in the loan market.

  • GlobalRMB awards: Most impressive issuers, best law firm

    In this third part of the GlobalRMB awards, we present our reasons for choosing the best issuers in the FIG, corporate and SSA categories — and praise the strong performance of one well-known foreign law firm.