Country Garden fuels bond talk after Asia debt meetings

Country Garden, the Hong Kong-listed Chinese property developer, met Asian debt investors this week, fuelling speculation that it is planning a second attempt at a debut in the high-yield bond market.

  • 27 Aug 2009

Bankers from JPMorgan travelled with Country Garden officials to meet investors in Hong Kong on Wednesday and Singapore on Thursday. The meetings were officially an investor update, following Country Garden’s Rmb1.8bn ($263m) profit announcement on Tuesday, but talk also turned to the possibility of a dollar bond issue.

Estella ...

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All Corporate Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 122,575.91 533 6.02%
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4 Barclays 82,932.95 333 4.07%
5 Goldman Sachs 81,894.66 314 4.02%

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1 BNP Paribas 27,590.77 120 8.93%
2 Deutsche Bank 21,930.45 80 7.10%
3 SG Corporate & Investment Banking 19,469.33 94 6.30%
4 HSBC 17,074.35 90 5.53%
5 UniCredit 16,301.39 75 5.28%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
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1 Goldman Sachs 5,404.19 42 7.74%
2 BNP Paribas 4,918.81 57 7.04%
3 Deutsche Bank 4,345.09 43 6.22%
4 JPMorgan 3,950.54 44 5.65%
5 Credit Suisse 3,757.05 40 5.38%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 JPMorgan 20,123.74 153 10.15%
2 Goldman Sachs 15,830.49 107 7.98%
3 Credit Suisse 13,629.27 97 6.87%
4 Bank of America Merrill Lynch 13,267.41 122 6.69%
5 Citi 13,132.03 109 6.62%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 HSBC 28,248.54 116 6.14%
2 BNP Paribas 26,642.60 114 5.79%
3 Barclays 25,943.52 91 5.64%
4 JPMorgan 25,775.62 85 5.60%
5 Deutsche Bank 24,198.66 96 5.26%