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Alibaba drives Best CB debut on NYSE

Chinese logistics company Best has sealed a $175m convertible bond, benefitting from a jumbo anchor order from Alibaba Group Holding.

  • By Jonathan Breen
  • 16 Sep 2019

Credit Suisse, Goldman Sachs and JP Morgan opened the book for the five year CB, non-callable but puttable in year three, at a coupon range of 1.25% to 1.75% and a conversion premium of 30% to 35% on September 12 in Hong Kong.

The deal was well anticipated ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
Excludes PPs. Click for full table
1 Bank of China (BOC) 27.09
2 Industrial and Commercial Bank of China (ICBC) 12.86
3 China Merchants Bank Co 11.85
4 China Merchants Securities Co 9.09
5 Agricultural Bank of China (ABC) 5.51

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $b No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Goldman Sachs 11.56 53 7.01%
2 CITIC Securities 11.15 64 6.77%
3 China International Capital Corp Ltd 9.66 56 5.86%
4 Morgan Stanley 9.43 59 5.72%
5 UBS 9.43 72 5.72%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $b No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 HSBC 29.34 258 8.39%
2 Citi 23.65 166 6.76%
3 JPMorgan 16.38 120 4.69%
4 Standard Chartered Bank 16.07 163 4.60%
5 Bank of America Merrill Lynch 12.50 94 3.57%

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