Asia

  • Time to take corporate FRNs seriously

    The successes and failures of a handful of deals last week showed that floating rate notes are not just for financial credits, but can also serve corporations well — especially in times of real need.

    • 21 May 2018
  • Human rights: a test of investors’ power

    A survey of companies’ sensitivity to human rights casts big luxury goods companies like LVMH, Hermès and Prada in a bad light. Will investor pressure make them smarten up — or does their indifference suggest investors’ power is limited?

    • 15 May 2018
  • Mr Unpredictable: Donald Trump and ZTE

    Chinese technology company ZTE Corp appears to have been saved from the brink, after US President Donald Trump’s surprising intervention on Twitter. But although that may look like good news to ZTE’s investors, it should not be applauded by anyone else. The only thing predictable about the trade war between China and the US is quite how unpredictable it will be.

    • 15 May 2018
  • IndInfravit success is no silver bullet for InvIT market

    India’s latest infrastructure investment trust listing, or InvIT, was a success by most accounts, raising Rp32bn ($484m) for IndInfravit Trust. But the lack of liquidity in the secondary market has exposed it as a hollow victory. More needs to be done if the asset class is to become a viable fundraising tool.

    • 15 May 2018
  • Vietnam IPOs: The promise in being private

    Vietnamese conglomerate Vingroup is on course for a second spin-off using a novel private placement-style structure, after pricing Vinhomes’ D30.7tr ($1.35bn) listing this week. The structure offers a tempting route for potential issuers in the country’s unpredictable equity market.

    • 08 May 2018
  • How not to cancel an IPO

    A spate of pulled IPOs in Asia offers some valuable lessons on how to make a graceful exit. Investors should not be left holding the short end of the stick.

    • 30 Apr 2018
  • The power of the roadshow

    Asia’s bond market is getting tougher, forcing issuers to take roadshows seriously once again.

    • 30 Apr 2018

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Europe

  • One order book to rule them all

    IHS Markit’s purchase of Ipreo marks a major step forward in getting the primary bond markets to finally agree on a Street-wide technology standard. But it’s still not the standard the market deserves.

    • 05:00 PM
  • Don’t let Italy's politics deter you from IPOs

    Italy is speedily progressing towards an unorthodox government, but this should not prevent investors from backing Italian corporates as they prep initial public offerings.

    • 04:45 PM
  • New UK sanctions recommendations on Russia are toothless

    The UK's foreign affairs committee report, released on Monday, holds the US Treasury’s sanctions strategy in high regard, because of the immediate impact on financial markets. But it misunderstands the reason for the US-driven sell-off, and so its recommendations are faulty as well.

    • 01:00 PM
  • Byte Me: the taxman cometh

    The minefield of what a cryptocurrency is might have been able to remain comfortably in the realms of the philosophical, if it were not for the relentlessly grounded and literal approach of the US Internal Revenue Service.

    • 17 May 2018

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 21.76
2 Agricultural Bank of China (ABC) 15.11
2 CITIC Securities 15.11
4 China CITIC Bank Corp 13.60
5 Industrial and Commercial Bank of China (ICBC) 10.58

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 9,879.80 45 8.93%
2 Morgan Stanley 8,481.96 28 7.66%
3 Goldman Sachs 8,123.16 33 7.34%
4 China Securities Co Ltd 6,118.37 18 5.53%
5 Bank of America Merrill Lynch 5,384.74 11 4.86%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 12,759.16 95 7.41%
2 Citi 11,327.78 69 6.58%
3 Goldman Sachs 8,568.36 34 4.97%
4 JPMorgan 8,456.82 37 4.91%
5 Bank of America Merrill Lynch 7,806.04 40 4.53%

Asian polls & awards

  • The Australian Fixed Income Poll 2018

    Asiamoney, in association with National Australia Bank, invites all fixed income investors in Asia and Europe to participate in the Australian Fixed Income Poll 2018. The online poll will take only five to 10 minutes to complete.

  • Regional Capital Markets Awards Part IV: Investment Bank

    In the last instalment of our 2017 awards, we present the full write-ups of the winners of Best Asian Investment Bank and Best Investment Bank.

  • Regional Capital Markets Awards Part III: Bonds

    In the third instalment of our 2017 awards, we present the full write-ups of the winners of the Best Local Currency Bond, Best High Yield Bond, Best Financial Bond, Best SSA Bond, Best Investment Grade Bond, Best Project Finance Deal, Best Bond, Best G3 and Local Currency Bond House, and Best High Yield Bond House.

  • Regional Capital Markets Awards Part II: Equities

    In the second instalment of our 2017 awards, we present the full write-ups of the winners for Best Follow-On/Accelerated Bookbuild, Best Equity-Linked Deal, Best IPO, Best ECM Deal and Best ECM House.

  • Regional Capital Markets Awards Part I: Loans

    In the first instalment of our 2017 awards, we present the full write-ups of the winners for Best Investment Grade Syndicated Loan, Best High Yield Syndicated Loan, Best Leveraged/Acquisition Finance, Best Loan and Best Loans House.