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iQiyi back for more with $1.1bn ADS convertible bond

Nasdaq-listed video streaming platform iQiyi has returned for a second time to the equity-linked market, having launched a one-day bookbuild on Tuesday for a convertible bond that could reach $1.05bn.

  • By Jonathan Breen
  • 26 Mar 2019

The issuer, backed by Chinese internet search engine Baidu, is in the market with a six non-put four year CB. The bond has a base size of $1.05bn and a $150m greenshoe.

iQiyi is offering the notes with a coupon range of 2%-2.5% and a premium of 27.5%-32.5% ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
Excludes PPs. Click for full table
1 Bank of China (BOC) 23.56
2 Industrial and Commercial Bank of China (ICBC) 16.09
3 China Merchants Securities Co 11.38
4 Agricultural Bank of China (ABC) 6.90
5 HSBC 5.75

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • 14 Sep 2019
1 Goldman Sachs 10,402.38 44 7.46%
2 CITIC Securities 10,076.72 56 7.23%
3 Morgan Stanley 8,137.73 53 5.84%
4 China International Capital Corp Ltd 7,629.46 48 5.47%
5 UBS 7,571.63 56 5.43%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
  • Today
1 HSBC 25,845.51 224 8.48%
2 Citi 19,878.62 143 6.52%
3 JPMorgan 15,342.51 106 5.03%
4 Standard Chartered Bank 13,851.25 136 4.55%
5 Bank of America Merrill Lynch 11,261.66 88 3.70%

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