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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) 24.90
2 Industrial and Commercial Bank of China (ICBC) 13.32
3 China Merchants Bank Co 13.15
4 China Merchants Securities Co 8.19
5 Agricultural Bank of China (ABC) 5.46

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 CITIC Securities 16.76 84 6.95%
2 China International Capital Corp Ltd 16.67 78 6.91%
3 Goldman Sachs 15.38 70 6.38%
4 UBS 14.59 105 6.05%
5 Morgan Stanley 14.27 76 5.92%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
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1 HSBC 34.78 304 8.23%
2 Citi 26.50 186 6.27%
3 Standard Chartered Bank 19.10 193 4.52%
4 JPMorgan 18.77 139 4.44%
5 BofA Securities 16.13 116 3.81%

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