Asia

  • How foreign securities houses should enter China

    Foreign banks hoping to break into China’s capital markets will have an open invitation at the end of next year, when final restrictions on their ownership of securities houses are removed. They will have some small successes with secondary trading but muscling in on primary capital markets will prove expensive ─ and risky.

    • 13 Nov 2019
  • Euro bonds beckon to Chinese issuers

    Chinese borrowers that have previously ignored the euro bond market should reconsider. Recent deals show there are plenty of reasons for issuers to tap the European investor base.

    • 05 Nov 2019
  • Vietnamese loans: time is ripe for deals

    Vietnamese borrowers have kept loans bankers busy amid a broader slowdown in the syndication market. But the welcome they have received so far from lenders may cool down faster than expected.

    • 29 Oct 2019
  • Asian issuers: now is the time for 144A

    Asian issuers tend to treat the 144A market as little more than a sideshow, rarely putting in the extra work to bring their deals to US investors. That needs to change.

    • 23 Oct 2019
  • China DCM scores: decent idea, poor execution

    Chinese regulators are planning to rate the bond underwriting ability of securities firms. That may appear a sensible solution to an exchange bond market that has become cutthroat and chaotic. But the proposed solution is too vague to have much impact.

    • 22 Oct 2019
  • The end of Libor: Asian banks are unprepared

    How much work have Asian banks put in to get ready for the end of Libor on December 31, 2021? Senior bankers in the region tend to respond to this question with shrugs, caveats and equivocations. It is clear, they admit privately, that not much progress has been made.

    • 17 Oct 2019
  • 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.

    • 09 Oct 2019

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Europe

  • Greening central banks is a measure of political weakness

    Green quantitative easing is having a moment. As the European Central Bank restarts the ordinary brown kind of money printing, buying corporate and public sector bonds, a broad range of commentators, from left wing activists to BlackRock’s head of official institutions, argue that central banks ought to put their balance sheet power in play to green the world. But turning to the central banks is a counsel of despair. The technocrats should be a last resort; it is politicians who should be in the vanguard.

    • 12 Nov 2019
  • Corporate QE returns, for good or ill

    The European Central Bank let markets look under the bonnet of its new Corporate Sector Purchase Programme on Monday, and the only thing the raw data has confirmed is that omnipotent central banks like to move in mysterious ways seemingly at odds with what the market wants or needs.

    • 12 Nov 2019
  • UK IPO hopeful in pole position in streamer race

    Tuesday might be a day to spare a thought for any investor long Netflix as Disney launches is streaming service, Disney +. But the flotation of UK visual effects firm DNEG might just give them a way to profit from the coming war between the big streamers.

    • 12 Nov 2019
  • A normal IPO process for Aramco is the perfect approach

    Saudi Aramco released an initial IPO prospectus on Sunday and some, mainly in the mainstream financial press, were outraged that it contained no details on price or deal size. However, a full two week investor education process is a perfectly normal feature of IPOs and the fact that Aramco is doing its deal by the book is a good thing.

    • 12 Nov 2019

more Europe View

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 27.09
2 Industrial and Commercial Bank of China (ICBC) 12.86
3 China Merchants Bank Co 11.85
4 China Merchants Securities Co 9.09
5 Agricultural Bank of China (ABC) 5.51

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 15.74 76 7.80%
2 Goldman Sachs 14.46 60 7.17%
3 China International Capital Corp Ltd 14.21 72 7.04%
4 UBS 12.70 89 6.30%
5 Morgan Stanley 11.11 66 5.51%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 HSBC 32.35 286 8.26%
2 Citi 25.59 178 6.53%
3 Standard Chartered Bank 18.08 182 4.62%
4 JPMorgan 18.02 132 4.60%
5 Bank of America Merrill Lynch 15.02 111 3.84%

Asian polls & awards

  • Finance Minister of the Year, CEE

    Djamshid Kuchkarov, Uzbekistan

  • 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.

  • 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.

  • 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.

  • 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.