Asia

  • Asian green bonds: more catching up needed

    Asia’s green financing market has made great strides since issuance started to pick up two years ago, with 2017 seeing more regulators and issuers giving the asset class a push. But for all its impressive feats, the region’s green market is yet to come of age.

    • 09:15 AM
  • Hong Kong IPOs: the new era is here

    Hong Kong’s equity market is finally shaking off its fusty image as a home for unloved Chinese IPOs, with overstuffed bank syndicates and cornerstone tranches, and friends and family deals increasingly becoming a thing of the past. There will be naysayers, but all the signs show that the change is here to stay.

    • 05 Dec 2017
  • Asian sustainable lending needs a big push

    A novel green loan for Singapore-listed Wilmar has put a focus on sustainability-based borrowings in Asia — or the lack thereof. But now the agribusiness company has provided a template for such financings, the onus is on banks and borrowers to push for change in the region. The benefits may be intangible, but they will be more far-reaching than a few extra basis points on the P&L.

    • 05 Dec 2017
  • Backtracking on reforms not an option for China

    Foreign ownership reform in the Chinese financial sector is not only a landmark in the country’s opening up, but also a strategic move to rebalance US-China trade. But recent guidelines curtailing banking sector liberalisation appear to be a case of one step forward, two steps back for China. Now more than ever, Beijing must not let its caution around financial risk take over and undo its strategy.

    • 28 Nov 2017
  • Bond oversupply a challenge, but also an opportunity

    The sheer amount of dollar bond issuance seen this month in Asia, and the expected supply heading into the year end, has taken a bit of a toll on the market, with a handful of deals pulled and many others suffering in secondary. But there is a silver lining. Issuers in the region are being forced to think hard, communicate better and push the boundaries — things which can only make the market stronger.

    • 28 Nov 2017
  • India’s rating upgrade: too little, too late

    India rejoiced late last week when Moody’s upgraded the sovereign's rating for the first time in 14 years. The boost has certainly stirred up some positive sentiment around the country and is a great stamp of approval for the numerous reforms it has put in place over the past year. But in reality, it will be business as usual, and the ratings lift will only have a limited impact — unless India thinks big.

    • 22 Nov 2017
  • Indian state IPOs: LIC needs to cut off support

    The IPOs of two Indian government-owned insurance firms have disappointed on their debuts recently, after they were bailed out by a fellow state-backed insurer. The deals are the clearest sign yet that Life Insurance Corp (LIC) needs to stop meddling in government share sales and let the market take its course.

    • 14 Nov 2017

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Europe

  • Qatar’s banks do not need a sovereign reopener

    Qatar's banks face a wall of maturities in 2018 and need the door to capital markets funding to be flung open for them. But it does not have to be the Qatar sovereign that does the opening.

    • 05 Dec 2017
  • Outsourcing student loan servicing won’t erase problems

    The student loan servicing infrastructure in the US is ripe for an overhaul. But the Department of Education’s (DoE) plan to outsource student loan servicing to big tech and big finance may not erase all of the existing problems.

    • 05 Dec 2017
  • The SRB must be more transparent after Popular

    The Single Resolution Board (SRB) should not have needed an appeal panel to determine that the Banco Popular resolution could have been more transparent. It was blatantly obvious from the outset.

    • 05 Dec 2017
  • Follow-the-leader leveraged newbies set to suffer most

    The terms of leveraged finance deals are growing ever more aggressive. The most regular borrowers are the biggest pushers of tough terms, but those who follow their example may pay the heaviest price in a market correction.

    • 28 Nov 2017

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 28.62
2 CITIC Securities 21.06
3 China CITIC Bank Corp 9.72
4 China Merchants Bank Co 9.18
5 Industrial and Commercial Bank of China (ICBC) 7.56

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 16,270.37 85 6.32%
2 UBS 14,128.60 88 5.49%
3 Goldman Sachs 11,744.37 58 4.56%
4 China International Capital Corp Ltd 11,422.00 55 4.44%
5 Morgan Stanley 10,900.56 58 4.23%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 35,178.30 245 8.08%
2 Citi 34,267.00 196 7.87%
3 JPMorgan 26,001.66 142 5.97%
4 Bank of America Merrill Lynch 21,496.54 111 4.93%
5 Standard Chartered Bank 19,923.39 139 4.57%

Asian polls & awards