Taipan
The GlobalCapital Asia View
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Japan’s QE: bad for banks, good for DCM in Europe
Japanese banks are unlikely to enjoy any let-up from razor-thin net interest margins in 2019. This is worrying for their long-term sustainability, but it's potentially a bonanza for DCM specialists in Europe and the US.
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Indian debt issuance: two steps forward, one step back
The Reserve Bank of India’s recent reforms to its external commercial borrowings (ECB) policy make for a simpler and looser process for borrowers raising debt offshore. But the central bank has also thrown up new roadblocks for issuers that could drastically affect their access to capital markets.
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Redux or reset? Asian bonds show risks
Asia’s offshore bond market has had a strong start to the year, moving past the doom and gloom that ended 2018. But there are already signs the difficult conditions that defined last year may only be around the corner.
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The slippery slope to workplace humiliation
One of my favourite parts of the winter season used to be the ski trips. Nothing beats swapping the smoggy Hong Kong winters for a cabin on one of Japan’s snow-capped mountains.
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With friends like these, who needs enemies?
Catching up with friends on the latest gossip is always good fun — but only if you are meeting at a respectable place.
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Money gun ups the ante for gift giving
One of my favourite parts of meeting up with old friends after Christmas is hearing about the gifts they received. This makes for far more entertaining conversations than bonus season talk.
Clawback
Former ECM banker Philippe Espinasse dissects Asia's equity capital markets.
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The Hong Kong paradox
IPOs worldwide have been derailed by geopolitical developments — except, it seems, in Hong Kong. Clawback columnist Philippe Espinasse investigates.
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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.
Southpaw
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Investment banks gear up for tech coverage revolution
Technology M&A will continue to power corporate finance activity in 2019 but, as deals increasingly cross sectors, banks are having to re-tool their coverage and break up internal silos, writes David Rothnie.
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Credit Suisse investment banking business defies the critics
Credit Suisse surprised its critics in 2018 by showing that, despite its pivot to wealth management, the European corporate finance business is robust and surprisingly well-diversified, writes David Rothnie.
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 | CITIC Securities | 1,277.35 | 6 | 14.43% |
| 2 | Goldman Sachs | 1,075.14 | 2 | 12.15% |
| 3 | Bank of China | 754.84 | 3 | 8.53% |
| 4 | China International Capital Corp Ltd | 721.75 | 3 | 8.16% |
| 5 | Guotai Junan Securities Co Ltd | 687.65 | 4 | 7.77% |
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 2,348.80 | 16 | 10.73% |
| 2 | Citi | 2,258.90 | 18 | 10.32% |
| 3 | Standard Chartered Bank | 1,308.56 | 8 | 5.98% |
| 4 | JPMorgan | 1,192.62 | 8 | 5.45% |
| 5 | UBS | 1,022.45 | 9 | 4.67% |
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.
