Watermark
Go to Asia edition

Merchants Land bags $500m with credit enhancement

China Merchants Land priced its first international bond on Wednesday following the company’s reverse IPO. The deal adds to the increasing number that are accompanied by credit enhancement (see page 1), with ICBC (Asia) offering a standby letter of credit.

  • By Lorraine Cushnie
  • 06 Dec 2013
The unrated borrower sold a $500m five year deal at 260bp over Treasuries, inside initial price indications of high 200bp and at the bottom of the final price guidance of 260bp-270bp. Moody’s has assigned the bond a provisional rating of A2, equal to ICBC (Asia), as the debt ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial
Log in

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Citi 7,410.35 20 9.53%
2 Deutsche Bank 6,018.47 14 7.74%
3 Barclays 4,950.16 12 6.36%
4 JPMorgan 4,873.13 16 6.27%
5 Goldman Sachs 4,516.62 13 5.81%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Citi 1,243.79 7 7.63%
2 BNP Paribas 1,118.03 6 6.86%
3 Barclays 1,100.14 4 6.75%
4 Commerzbank Group 1,054.99 6 6.47%
5 JPMorgan 1,009.92 4 6.19%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 JPMorgan 200.50 2 12.59%
1 Deutsche Bank 200.50 2 12.59%
3 UniCredit 113.00 1 7.09%
3 Sumitomo Mitsui Financial Group 113.00 1 7.09%
3 Mediobanca 113.00 1 7.09%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Bank of America Merrill Lynch 213.33 2 9.92%
2 UniCredit 130.00 1 6.05%
2 SG Corporate & Investment Banking 130.00 1 6.05%
2 JPMorgan 130.00 1 6.05%
2 Citi 130.00 1 6.05%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
View full table
For detailed analysis: Dealogic
  • Last updated
  • Today
1 Citi 2,636.08 6 8.72%
2 Barclays 2,499.67 4 8.27%
3 JPMorgan 2,303.98 3 7.62%
4 MUFG 2,123.57 3 7.02%
5 Bank of America Merrill Lynch 2,054.92 4 6.79%