Sunac steals the show, Redco chooses short-dated bond

All eyes were on Sunac China Holdings on Thursday when it executed a deal that was six times covered at its peak. Despite the competition, Redco Properties Group also managed to walk away with a new bond, thanks to the flexibility of the 364-day format.

  • By Addison Gong
  • 11 Jan 2019

Sunac’s two year bond was announced in the area of 8.875% on Thursday morning Asia time. China Citic Bank International, China Industrial Securities International, CMB International, Deutsche Bank, Guotai Junan International, HSBC, ICBC International, Morgan Stanley and Nomura were the global co-ordinators.

A $3.6bn order book allowed ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 26.40
2 Industrial and Commercial Bank of China (ICBC) 20.00
3 China Securities 13.33
4 Agricultural Bank of China (ABC) 12.00
5 Bank of China (BOC) 11.33

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 4,192.75 10 10.19%
2 CITIC Securities 3,801.69 16 9.24%
3 Morgan Stanley 2,637.35 14 6.41%
4 UBS 2,550.96 12 6.20%
5 Bank of China 2,514.57 6 6.11%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 8,790.23 79 9.71%
2 Citi 6,139.52 38 6.78%
3 JPMorgan 5,662.83 32 6.26%
4 UBS 4,042.65 40 4.47%
5 Goldman Sachs 3,490.49 23 3.86%

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