Bonds
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China policy round-up: Xi’s speech disappoints
In this round-up, Chinese president Xi Jinping’s speech at the celebration of China’s reform and opening up offered no concrete promises, the People’s Bank of China reopened the seven-day reverse repo after 36 days of suspension, and China dropped its holding of US government bonds for the fifth consecutive month.
- With IFC's help, PNG eyes corporate bond push
- Swiss francs ready to celebrate normality
- Hungary’s second Panda looks like a club deal
- China property: Cifi, Redsun end 2018 with bond success
Equities
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Q3 Medical plans $142m float in Hong Kong
Q3 Medical Devices is looking to raise around €125m ($142m) through an IPO in Hong Kong, according to a release.
- Malaysian regulator maintains verdict on Lotte Chemical
- Hong Kong IPOs to fall sharply in 2019: Deloitte
- CEReit scores excess demand for €224m rights issue
- Capital markets must avoid the optimism trap
Loans
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IOC pays up for bigger $1.3bn borrowing
Indian Oil Corp is in the market with a $1.3bn financing, in yet another sign the country’s famously stingy borrowers are allowing pricing to inch up.
- Capital markets must avoid the optimism trap
- Zhongyu Gas returns for $250m three year loan
- Anta to launch €2.2bn Amer acquisition loan in January
- HDFC swings into Samurai loan market
People & Markets
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Malaysia slaps first 1MDB charges on Goldman
The Malaysian government has filed criminal charges against Goldman Sachs for its alleged complicity in 1MDB and is seeking fines of over $3bn in a bid to recover assets from one of the world’s worst financial scandals.
RMB
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With ETF Connect delayed, MRF shuffles back in spotlight
The decision to further postpone the ETF Connect between China and Hong Kong offers an opportunity to improve the mutual recognition of funds (MRF) scheme. In a recent report, Ernst & Young and the Hong Kong Investment Funds Association offered the authorities some suggestions.
Comment
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Brace yourselves for election year
Five countries in Asia are due to hold general elections in 2019, meaning uncertainty for capital markets is likely to be commonplace. With markets already wobbling under global pressures, surprise election results could have catastrophic effects. Bankers and investors should be prepared for a bumpy ride.
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US-China trade war truce: a Christmas miracle?
The meeting between US president Donald Trump and China’s Xi Jinping during the G20 summit resulted in a trade war ceasefire, giving capital markets a temporary breather from the threat of a fresh tariff outbreak. Asia’s debt and equity issuers should pounce on the opportunity.
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HK to board out dodgy directors (well, almost)
In this year’s last Clawback, columnist Philippe Espinasse has his say on corporate governance standards in Hong Kong-listed companies.
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 | China Merchants Securities Co | 14.44 |
| 2 | Industrial and Commercial Bank of China (ICBC) | 11.65 |
| 3 | Bank of China (BOC) | 10.33 |
| 4 | CITIC Securities | 8.41 |
| 5 | Agricultural Bank of China (ABC) | 7.17 |
Bookrunners of Asia-Pac (ex-Japan) ECM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Goldman Sachs | 17,789.40 | 87 | 7.59% |
| 2 | Morgan Stanley | 14,665.53 | 74 | 6.25% |
| 3 | Citi | 14,439.29 | 99 | 6.16% |
| 4 | UBS | 13,112.16 | 89 | 5.59% |
| 5 | China International Capital Corp Ltd | 11,814.82 | 50 | 5.04% |
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 26,708.75 | 232 | 7.83% |
| 2 | Citi | 23,882.97 | 159 | 7.01% |
| 3 | JPMorgan | 15,519.87 | 98 | 4.55% |
| 4 | Bank of America Merrill Lynch | 14,271.29 | 91 | 4.19% |
| 5 | Goldman Sachs | 13,938.23 | 69 | 4.09% |
Asian polls & awards
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GlobalCapital Asia capital markets awards 2018: Investment banks
In the fourth and final instalment of GlobalCapital Asia’s capital markets awards announcements, find out the Best Asian Investment Bank and the Best Investment Bank in the region for 2018.
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GlobalCapital Asia capital markets awards 2018: Bonds
In part three of our results announcements, we reveal the winning bond deals across a variety of categories. In addition, we also name the Best G3 Bond House, Best Local Currency Bond House, Best High Yield Bond House and the debut winner of the Best House for SRI Financing.
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GlobalCapital Asia capital markets awards 2018: Equities
In part two of our results announcements, we reveal the winning equity deals and banks, including the Best Follow-on/Accelerated Bookbuild, Best Equity-Linked Deal, Best IPO, Best ECM Deal and Best ECM House.
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GlobalCapital Asia capital markets awards 2018: Loans
GlobalCapital Asia has spent the last two months talking to banks and their clients in a bid to determine the most impressive capital markets transactions and advisers across Asia ex-Japan in 2018. We are pleased to begin our awards announcements in the loan market.
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GlobalRMB awards: Most impressive issuers, best law firm
In this third part of the GlobalRMB awards, we present our reasons for choosing the best issuers in the FIG, corporate and SSA categories — and praise the strong performance of one well-known foreign law firm.
