Bonds
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US investors get in on Kaisa’s latest dollar bond
Chinese real estate company Kaisa Group Holdings chose to go down the 144A route for its latest bond, raising $400m from a deal that hit the higher end of its size expectations.
- CCB nets $1.55bn from euro, dollar bonds
- HPCL-Mittal lights up bond sale with generous price
- Geely preps third auto ABS, scraps mezz tranche
- Argenta and SMFG find contrasting demand in senior
Equities
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Hong Kong’s top securities regulator to leave
The Securities and Futures Commission’s chief executive officer Ashley Alder is set to step down in September next year.
- Youdao hits road with $101m New York IPO
- HKEX picks new listing chief
- Languang Justbon scores with HK$1.6bn IPO
- Powerlong Real Estate raises HK$792m via top-up
Loans
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Fullerton allocates $250m among 17 lenders
Fullerton India has closed its $250m-equivalent borrowing after 14 participants joined the three bookrunners during syndication.
- Indorent holds non-deal roadshows
- India’s Vedanta, Syndicate Bank return for loans
- Lesso boosts refinancing loan to $1.1bn
- Shanghai Sinooil defaults on $400m loan
People & Markets
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Hong Kong’s top securities regulator to leave
The Securities and Futures Commission’s chief executive officer Ashley Alder is set to step down in September next year.
RMB
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Geely preps third auto ABS, scraps mezz tranche
Genius Auto Finance will come back to the Chinese auto loan ABS market for a Rmb4bn ($564m) trade next week. That is the same size as its last deal, but the originator will scrap the mezzanine tranche this time around.
Comment
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Chinese property bonds: still the golden goose?
Investors have mixed feelings about bonds from Chinese property companies, but a likely supply-demand rebalance could signal yet another honeymoon period for the sector.
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The EIB should be Europe’s development hub — for now
European politicians may be tempted to make a show by founding a new development bank. That would be a mistake. Results are what matter, not branding. To supercharge development and climate finance, the EU should choose the simplest and fastest option.
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China should fulfil reform promise with Star
China’s Star board, the local version of the US Nasdaq, has great potential to highlight the country’s move towards reforming its IPO market — if it’s done right.
Asia Securitization
More from Asia
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Bank Profiles
Latest news by market and league table performance
Panda Bonds Top Arrangers
| Rank | Arranger | Share % by Volume |
|---|---|---|
|
||
| 1 | Bank of China (BOC) | 20.52 |
| 2 | Industrial and Commercial Bank of China (ICBC) | 14.01 |
| 3 | China Merchants Bank Co | 12.91 |
| 4 | China Merchants Securities Co | 9.91 |
| 5 | Agricultural Bank of China (ABC) | 6.01 |
Bookrunners of Asia-Pac (ex-Japan) ECM
| Rank | Lead Manager | Amount $b | No of issues | Share % |
|---|---|---|---|---|
| 1 | Goldman Sachs | 11.53 | 52 | 7.05% |
| 2 | CITIC Securities | 11.10 | 63 | 6.79% |
| 3 | Morgan Stanley | 9.43 | 59 | 5.77% |
| 4 | China International Capital Corp Ltd | 9.33 | 55 | 5.71% |
| 5 | UBS | 9.32 | 71 | 5.70% |
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
| Rank | Lead Manager | Amount $b | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 29.00 | 254 | 8.40% |
| 2 | Citi | 23.46 | 163 | 6.79% |
| 3 | JPMorgan | 16.14 | 117 | 4.68% |
| 4 | Standard Chartered Bank | 15.88 | 160 | 4.60% |
| 5 | Bank of America Merrill Lynch | 12.50 | 94 | 3.62% |
Asian polls & awards
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GM Awards 2019: CEE
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GlobalCapital China Capital Market Awards 2019: open for submissions
GlobalCapital China is pleased to invite you to participate in the GlobalCapital China Capital Market Awards 2019. Inaugurated last year under the GlobalRMB banner, the awards celebrate the accomplishments of the leading players in the renminbi debt capital markets, onshore and offshore, as well as key service providers.
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Last chance! GlobalCapital Asia Capital Market Awards 2019
GlobalCapital Asia is pleased to invite pitches for our annual capital markets and investment banking awards, which reward the most impressive transactions and investment banks of 2019.
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GlobalCapital reveals SRI Award nominations
GlobalCapital has published the nominations for its Sustainable and Responsible Capital Markets Awards. The winners will be announced on September 17, at our Awards Ceremony in Amsterdam.
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GlobalCapital SRI Awards: poll extended
In response to requests from market participants, GlobalCapital has extended the closing date of its poll to determine the 2019 winners of its Sustainable and Responsible Capital Markets Awards. Market participants can now vote until July 26.
