China Railway finds huge bid for 10 year dollar debut

China Railway Resources Huitung launched a debut dollar bond on Tuesday, finding plenty of demand among buyers looking to diversify away from the property market.

  • 31 Jan 2013

It priced a $500m 10 year deal at 190bp over Treasuries, after its bankers managed to build an order book of around $8bn. Investors are still hungry for exposure to mainland issuers, but they are looking for an alternative to property companies and other high yield credits.

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 174,796.79 765 7.14%
2 Bank of America Merrill Lynch 155,804.72 719 6.36%
3 Citi 137,825.04 739 5.63%
4 Goldman Sachs 110,240.40 478 4.50%
5 Barclays 106,582.38 490 4.35%

Bookrunners of Euro Denominated Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 29,965.54 145 8.64%
2 Barclays 25,510.29 106 7.35%
3 Deutsche Bank 24,247.02 105 6.99%
4 SG Corporate & Investment Banking 21,202.74 113 6.11%
5 HSBC 19,467.45 94 5.61%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 JPMorgan 8,469.76 69 8.01%
2 Goldman Sachs 8,116.84 64 7.68%
3 Credit Suisse 6,908.88 70 6.54%
4 Deutsche Bank 6,384.59 62 6.04%
5 BNP Paribas 5,941.97 66 5.62%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 37,132.38 289 10.76%
2 Citi 28,905.88 231 8.38%
3 Bank of America Merrill Lynch 28,846.52 251 8.36%
4 Goldman Sachs 24,953.24 183 7.23%
5 Barclays 23,148.60 155 6.71%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Barclays 28,102.94 134 6.34%
2 Deutsche Bank 28,087.32 104 6.33%
3 BNP Paribas 27,948.80 144 6.30%
4 HSBC 25,973.95 128 5.86%
5 Citi 23,312.66 103 5.26%