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ABC HK pushes inside Chinese big four FRN curve

Agricultural Bank of China’s Hong Kong branch raised $1bn from a single tranche floating rate note on Tuesday, pricing the deal tighter than its large Chinese state-owned banking peers.

  • By Addison Gong
  • 24 Jul 2019

The initial price guidance for the three year was announced at 95bp area over three month Libor by ABC Hong Kong branch, ABC International, Bank of China, Bank of Communications, China Construction Bank (Asia), HSBC and Mizuho on Tuesday morning Asia time.

The leads tightened guidance to ...

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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 %
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For detailed analysis: Dealogic
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1 CITIC Securities 10,473.46 57 7.30%
2 Goldman Sachs 10,466.14 46 7.30%
3 UBS 8,351.15 61 5.82%
4 Morgan Stanley 8,168.31 54 5.69%
5 China International Capital Corp Ltd 7,763.29 49 5.41%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
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  • Last updated
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1 HSBC 26,241.68 231 8.40%
2 Citi 20,661.93 146 6.61%
3 JPMorgan 15,433.82 108 4.94%
4 Standard Chartered Bank 14,190.58 144 4.54%
5 Morgan Stanley 11,315.38 77 3.62%

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