iQiyi prices $1.1bn ADS convertible at top end

Chinese streaming platform iQiyi bagged $1.05bn on Tuesday after tapping the equity-linked bond market for a second time, pricing the deal at the issuer-friendly end of guidance.

  • By Jonathan Breen
  • 27 Mar 2019

The Nasdaq-listed company came out on appeared during the morning in Hong Kong marketing a six non-put four year convertible bond with a coupon range of 2%-2.5% and an initial conversion premium of 27.5%-32.5% over its American Depository Shares’ last close

Joint bookrunners Bank of America, Goldman Sachs ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 19.93
2 Industrial and Commercial Bank of China (ICBC) 13.40
3 China Merchants Securities Co 12.94
4 Agricultural Bank of China (ABC) 7.84
5 China Securities 6.54

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 9,784.84 51 7.37%
2 Goldman Sachs 9,111.57 38 6.86%
3 Morgan Stanley 8,062.73 52 6.07%
4 China International Capital Corp Ltd 7,479.26 47 5.64%
5 UBS 7,395.67 52 5.57%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 22,760.63 199 8.31%
2 Citi 17,061.26 128 6.23%
3 JPMorgan 14,329.96 97 5.23%
4 Standard Chartered Bank 12,123.46 119 4.42%
5 Bank of America Merrill Lynch 10,117.96 78 3.69%

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