NWD offers attractive terms for $950m bond deal

Blue chip Hong Kong issuer New World Development Co has priced a 10 year bond worth $950m, after the leads decided to start bookbuilding at a generous level to build momentum.

  • By Addison Gong, Silas Brown
  • 12 Jul 2019

Global co-ordinators Citi, HSBC, Mizuho and UBS announced initial price guidance at the 250bp over US Treasuries area for a 10 year bond on Thursday morning Asia time.

Both bankers on and away from the deal said the initial guidance was pretty generous.

“NWD had an ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
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 %
  • Last updated
  • Today
1 Goldman Sachs 10,410.71 44 7.40%
2 CITIC Securities 10,076.72 56 7.16%
3 UBS 8,138.26 58 5.78%
4 Morgan Stanley 8,137.73 53 5.78%
5 China International Capital Corp Ltd 7,629.46 48 5.42%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 25,895.51 225 8.46%
2 Citi 19,878.62 143 6.49%
3 JPMorgan 15,342.51 106 5.01%
4 Standard Chartered Bank 13,932.50 138 4.55%
5 Bank of America Merrill Lynch 11,261.66 88 3.68%

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