North Star adds some sparkle to Chinese bonds

Beijing North Star, the Chinese property developer, sold a Rmb1.7bn ($249m) domestic bond on Friday (July 18), drawing orders from both retail and institutional buyers in a rare corporate bond from China’s cash-strapped property sector.

  • 24 Jul 2008

The five year deal, split between institutional and retail accounts, paid 8.2% and had a one-time put option after three years. It was managed by UBS Securities,

the Swiss bank’s joint venture with mainland brokerage Beijing Securities.The Rmb3.6bn book was built over two days. It was opened to institutional ...

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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 5,647.81 35 5.97%
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4 HSBC 4,900.29 32 5.18%
5 BNP Paribas 4,712.84 24 4.98%

Bookrunners of Euro Denominated Corporate IG Bonds

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5 ING 1,477.05 5 6.44%

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Bookrunners of Dollar Denominated HY Bonds

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3 Wells Fargo Securities 1,535.51 14 7.58%
4 JPMorgan 1,388.05 13 6.85%
5 Morgan Stanley 1,381.20 11 6.82%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 2,459.18 9 9.92%
2 UniCredit 1,892.23 6 7.63%
3 Bank of America Merrill Lynch 1,585.30 5 6.39%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.36%
5 ING 1,477.05 5 5.96%