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GCL bond recovers after asset sale confirmed

The price on GCL New Energy Holdings’ outstanding dollar bond has recovered from its lowest level since issuance, despite a double downgrade from the ratings agencies last week.

  • By Addison Gong
  • 02 Dec 2019

The Hong Kong-listed Chinese new energy company’s $500m 7.1% January 2021 bond rebounded over the second half of last week, from a historic low of 66 cents on the dollar to around 73.5 on Monday morning. 

The 2021s were trading as high as 93 ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
Excludes PPs. Click for full table
1 Bank of China (BOC) 18.86
2 Industrial and Commercial Bank of China (ICBC) 14.39
3 China Merchants Bank Co 14.21
4 China Merchants Securities Co 8.85
5 Agricultural Bank of China (ABC) 5.90

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $bn No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 China International Capital Corp Ltd 4.57 23 12.79%
2 China Securities Co Ltd 3.53 7 9.87%
3 Morgan Stanley 3.39 11 9.47%
4 CITIC Securities 3.29 11 9.21%
5 Goldman Sachs 1.70 13 4.77%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Citi 6.90 37 7.97%
2 HSBC 5.80 49 6.69%
3 UBS 4.41 27 5.09%
4 BofA Securities 4.13 14 4.76%
5 JPMorgan 4.04 26 4.67%

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