Bonds
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PLN makes quick dollar comeback, debuts in euros
Indonesia state-owned electricity company Perusahaan Listrik Negara (PLN) priced its first deal as a fully investment grade rated issuer on Thursday, tapping not only the dollar market but also euros for the first time.
- Doosan Power thrives on Kexim guarantee
- ICBC nabs $1bn despite weak FRN interest
- BCBS consults on leverage ratio, castigates bank ‘window dressing’
- Dongfeng motors in to refi maturing euro bonds
Equities
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Haier passes D-share IPO test for Ceinex
Qingdao Haier sealed the first D-share IPO in Frankfurt after pricing near the bottom of expectations, but managing to sell more shares to raise €278.3m.
- Niu hits speed bump with $63m IPO
- Philippine Savings Bank eyes $148m rights issue
- Green finance jolts forward with Bank’s push
- Byte Me: stablecoins buck and break
Loans
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Securitization in reverse — the IFC’s MCPP
Multilateral development banks are increasingly seeking creative ways to strengthen their arms by getting private capital to invest alongside them, magnifying their efforts. The International Finance Corp has long been one of the most active in this field, and thanks to a fund it launched five years ago, it last year achieved a co-investment ratio of over 100%.
- Rotam attracts three for $90m refi
- Green finance jolts forward with Bank’s push
- Trade war tensions to seep into loan syndications market
- Deutsche Bank appoints north Asia loans head
People & Markets
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Securitization in reverse — the IFC’s MCPP
Multilateral development banks are increasingly seeking creative ways to strengthen their arms by getting private capital to invest alongside them, magnifying their efforts. The International Finance Corp has long been one of the most active in this field, and thanks to a fund it launched five years ago, it last year achieved a co-investment ratio of over 100%.
RMB
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Haier passes D-share IPO test for Ceinex
Qingdao Haier sealed the first D-share IPO in Frankfurt after pricing near the bottom of expectations, but managing to sell more shares to raise €278.3m.
Comment
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China sovereign bond: a blessing in disguise?
China may have returned to the dollar bond market at a difficult point last week, but the sovereign still has a way to go before its notes become a real benchmark for the country’s debt issuers.
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England expects — but how much?
The Bank of England will steer banks and insurers to think seriously about climate change. This is great news in itself. But what will count is how far the Bank is willing to push them.
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Juicy offshore bond yield is no panacea
Yields on dollar bonds from Chinese issuers have jumped this year, but investors don’t appear to be rising to the bait. A rethink of borrowers’ fundraising strategies should be on the cards.
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 | 17.33 |
| 2 | Industrial and Commercial Bank of China (ICBC) | 14.45 |
| 3 | CITIC Securities | 10.36 |
| 4 | Agricultural Bank of China (ABC) | 9.42 |
| 5 | China CITIC Bank Corp | 8.48 |
Bookrunners of Asia-Pac (ex-Japan) ECM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Goldman Sachs | 15,658.50 | 72 | 7.61% |
| 2 | Morgan Stanley | 13,925.88 | 63 | 6.77% |
| 3 | Citi | 13,640.97 | 88 | 6.63% |
| 4 | UBS | 10,915.56 | 69 | 5.31% |
| 5 | China International Capital Corp Ltd | 10,581.88 | 41 | 5.14% |
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 21,505.44 | 181 | 7.68% |
| 2 | Citi | 20,709.67 | 133 | 7.40% |
| 3 | JPMorgan | 13,802.40 | 85 | 4.93% |
| 4 | Bank of America Merrill Lynch | 12,328.25 | 77 | 4.40% |
| 5 | Goldman Sachs | 11,208.75 | 54 | 4.00% |
Asian polls & awards
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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.
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GlobalRMB awards: Person of the year, most impressive innovation
In the final article on our GlobalRMB awards, we talk about the key innovation of the year and highlight the individual that has made the greatest contribution to the development of China’s cross-border capital markets.
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GlobalRMB awards: Best bank for securities services
Securities services was one of the most competitive award categories GlobalRMB had to decide this year. Our awards criteria demanded the near-impossible from participating banks: to beat the competition in the fast-changing China access scheme, while at the same time demonstrating a broad client base and the ability to be at the cutting edge of innovation.
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GlobalRMB awards: Best for ABS, CNH, G3 and Panda bonds
In GlobalRMB's Best Bank Awards for China DCM, Standard Chartered wins for ABS and CNH, HSBC takes home the G3 Bond House Award, and Bank of China gets kudos as the Best House for Panda bond issuers.
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Now open! GlobalCapital Asia Capital Market Awards 2018
GlobalCapital Asia is pleased to invite pitches for our annual capital markets and investment banking awards, rewarding the most impressive transactions and investment banks of 2018.
