Bankers hope for return of deals as PBoC settles liquidity fears

Asia’s financial markets began to recover from fears of a Chinese liquidity crunch on Wednesday after the People’s Bank of China (PBoC) released a statement on Tuesday saying that it would execute money market operations to stabilise markets and ease the pressure on banks. In response, DCM bankers dared to hope that prospects for dealflow would now improve.

  • By Frances J. Yoon
  • 26 Jun 2013

China’s Shanghai Interbank Offered Rate (Shibor), which had shot up to a high of 13.44% on June 20 — although individual overnight repo trades were spotted that day as high as 25% — had fallen to 5.5% by the Wednesday fixing, down from Tuesday’s 5.83%.

Cash prices on ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 109,632.18 468 5.99%
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3 Citi 86,586.87 463 4.73%
4 Barclays 76,702.28 310 4.19%
5 Goldman Sachs 71,515.07 288 3.91%

Bookrunners of Euro Denominated Corporate IG Bonds

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1 BNP Paribas 24,034.59 107 8.83%
2 Deutsche Bank 20,001.18 72 7.34%
3 SG Corporate & Investment Banking 19,058.39 89 7.00%
4 UniCredit 15,521.61 71 5.70%
5 HSBC 13,969.93 79 5.13%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Goldman Sachs 4,861.86 36 7.48%
2 BNP Paribas 4,648.08 55 7.15%
3 Deutsche Bank 4,100.65 41 6.31%
4 JPMorgan 3,756.57 41 5.78%
5 Credit Suisse 3,528.42 38 5.43%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 19,016.51 146 10.22%
2 Goldman Sachs 14,082.73 99 7.57%
3 Credit Suisse 13,243.20 94 7.12%
4 Bank of America Merrill Lynch 12,775.52 117 6.87%
5 Citi 12,347.90 105 6.64%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 25,669.81 109 6.14%
2 BNP Paribas 24,179.70 104 5.79%
3 Barclays 24,153.71 85 5.78%
4 Deutsche Bank 22,215.53 89 5.32%
5 JPMorgan 21,837.60 77 5.23%