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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
Excludes PPs. Click for full table
1 Bank of China (BOC) 21.85
2 China Merchants Securities Co 14.67
3 Industrial and Commercial Bank of China (ICBC) 14.44
4 Agricultural Bank of China (ABC) 8.89
5 China Securities 7.41

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
  • Today
1 CITIC Securities 8,376.11 38 8.27%
2 Goldman Sachs 8,051.77 31 7.95%
3 Morgan Stanley 6,109.23 41 6.03%
4 China International Capital Corp Ltd 5,877.20 34 5.80%
5 UBS 5,640.98 40 5.57%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 HSBC 17,645.24 155 8.27%
2 Citi 12,384.97 99 5.80%
3 JPMorgan 11,422.13 77 5.35%
4 Standard Chartered Bank 8,189.28 83 3.84%
5 Bank of China 7,633.07 95 3.58%

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