Updated: Dah Sing heralds bank capital supply rush

Hong Kong’s Dah Sing Bank priced a popular $225m Basel III-compliant tier two deal this week, kicking off what is set to be a critical year for Asia’s bank capital market. Addison Gong reports.

  • By Addison Gong
  • 10 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 the ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 24.90
2 Industrial and Commercial Bank of China (ICBC) 13.32
3 China Merchants Bank Co 13.15
4 China Merchants Securities Co 8.19
5 Agricultural Bank of China (ABC) 5.46

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 16.58 82 7.03%
2 China International Capital Corp Ltd 16.38 75 6.95%
3 Goldman Sachs 15.27 68 6.47%
4 UBS 14.29 100 6.06%
5 Morgan Stanley 13.57 71 5.75%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 HSBC 34.78 304 8.24%
2 Citi 26.50 186 6.28%
3 Standard Chartered Bank 19.07 192 4.52%
4 JPMorgan 18.77 139 4.45%
5 Bank of America Merrill Lynch 16.13 116 3.82%

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