CDB offers debut bank bond on exchange market

China Development Bank (CDB) issued the debut bond from a financial institution in China’s stock exchange market on December 27 as regulators try to diversify the country’s debt markets. The final issuing size of the dual-tranche deal was Rmb12bn with a two year ticket sold at 5.80% and a five year portion offered at 5.84%.

  • By Lorraine Cushnie
  • 31 Dec 2013

The result was towards the top end of price indication for the bonds at 5.45%-5.80% and 5.50%-5.85% respectively. The deal was well received by investors with the tranches 1.15x and 1.27x covered, according to bankers close to the deal, which will settle on January 3.

The bonds ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 16.70
2 Industrial and Commercial Bank of China (ICBC) 14.38
3 CITIC Securities 10.44
4 Agricultural Bank of China (ABC) 9.08
5 China CITIC Bank Corp 8.17

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 16,522.26 78 7.61%
2 Morgan Stanley 14,119.84 65 6.50%
3 Citi 14,051.62 90 6.47%
4 UBS 12,377.19 76 5.70%
5 China International Capital Corp Ltd 10,849.77 43 5.00%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 22,167.26 190 7.53%
2 Citi 21,542.45 144 7.32%
3 JPMorgan 14,738.77 90 5.01%
4 Bank of America Merrill Lynch 12,958.17 82 4.40%
5 Goldman Sachs 11,768.61 57 4.00%

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