Asia

  • US tariff deadline could spoil Christmas for ECM

    Equity markets, particularly European ones, are largely focusing on the UK election as the last opportunity for pre-Christmas volatility. But investors should remember that other shocks remain possible, including the scheduled imposition of US trade tariffs on China on Sunday.

    • 10 Dec 2019
  • In defence of Denmark's green idea

    Denmark’s debt officials have a highly original plan to issue green bonds in which the green element can be stripped off and traded separately. It’s going to put many a green nose out of joint. That’s no bad thing: the market needs to re-examine its claims to efficacy and virtue.

    • 10 Dec 2019
  • China needs to get going on TLAC bonds

    Crédit Agricole bagged a total loss-absorbing capacity eligible senior preferred Panda bond in China last week — the first of its kind onshore. But the confusion it created shines a light on a market that is still in dire need of education around these new structures. With Chinese banks set to come under pressure soon to issue their own TLAC-eligible bonds onshore, rapid change is needed before time runs out.

    • 10 Dec 2019
  • Caveat emptor: Indian SOEs attempt covenant changes

    Oil and Natural Gas Corp’s (ONGC) failed attempt to loosen change of control covenants for its dollar bond is a prime example of why investors in Indian state-owned enterprises need to keep their eyes wide open when approaching new deals.

    • 03 Dec 2019
  • Alibaba’s IPO success is no panacea for Hong Kong

    Hong Kong hosted Alibaba Group Holding’s jumbo IPO in tough political times this month, yet the deal received overwhelming support in primary and the shares soaring in the aftermarket. While this success gave the city’s stock market a much-needed boost, other issuers would be mistaken in thinking that such liquidity is also available to them.

    • 27 Nov 2019
  • HSBC restructuring will be a tough slog

    HSBC’s anticipated cuts to its global banking and markets (GBM) division may make sense. But they will not be easy to pull off smoothly.

    • 26 Nov 2019
  • Indian loan borrowers should reset expectations

    Indian borrowers that tapped the international loan market this year found mixed responses — with their deals either sailing through without a hitch or struggling to gain traction among banks. This sends an ominous signal to companies preparing offshore loans for next year.

    • 21 Nov 2019

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Europe

  • UK listing rules: if it ain't broke, don’t fix it

    The Conservatives may push for further deregulation of the UK’s financial system after Brexit, including allowing dual-class share structures on London's main market, if they emerge victorious from the general election on Thursday. This would be a mistake — they should not put at risk London's high corporate governance reputation in order to seek to compete with New York or Hong Kong.

    • 10 Dec 2019
  • Comrade Corbyn capital markets: surprisingly enriching?

    Voters go to the polls on Thursday to pick the next UK government, with the outside possibility of a far left Jeremy Corbyn-led Labour government keeping capital markets bankers awake at night. But the return of Marxism might hold some silver linings for them.

    • 10 Dec 2019
  • UniCredit is striving not to be a hostage to fortune

    European banks are waiting for relief from central bankers, politicians and regulators. But UniCredit is positioning itself to offset several of the biggest problems facing the sector, giving it greater room to forge its own destiny.

    • 03 Dec 2019
  • The ECB cannot pretend it is a selective investor

    The European Central Bank (ECB) likes to keep up the idea that it dips in and out of markets judiciously with its quantitative easing programme. This is disingenuous. Its driving force is its need to pump money into the system.

    • 03 Dec 2019

more Europe View

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 24.90
2 Industrial and Commercial Bank of China (ICBC) 13.32
3 China Merchants Bank Co 13.15
4 China Merchants Securities Co 8.19
5 Agricultural Bank of China (ABC) 5.46

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 16.76 84 6.96%
2 China International Capital Corp Ltd 16.67 78 6.92%
3 Goldman Sachs 15.38 70 6.38%
4 UBS 14.59 105 6.06%
5 Morgan Stanley 14.27 76 5.92%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 HSBC 34.78 304 8.23%
2 Citi 26.50 186 6.27%
3 Standard Chartered Bank 19.10 193 4.52%
4 JPMorgan 18.77 139 4.44%
5 BofA Securities 16.13 116 3.82%

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.