Asia

  • No need to panic over UK banks' China exposure

    The UK banking sector has more links to China than the equivalent sectors in the US, Japan, the euro area and South Korea do combined. Analysts are warning that China's growth is slowing, and HSBC’s poor results have been linked to this. But those espousing that view are overstating the connection.

    • 19 Feb 2019
  • Reit listings: Homeplus a minus for SGX

    South Korean supermarket chain Homeplus Stores is nearing a $1.5bn real estate investment trust listing. The deal deserves attention in its own right. But it also serves as a stark reminder that Singapore, once the quintessential Reit listing venue in Asia, has fallen from grace.

    • 19 Feb 2019
  • Green knowledge is not an efficient market

    Biofuels have swollen thanks to policies to combat climate change — even though often, they do not help the problem and can make it worse. This is a shocking record, born of ignorance, both accidental and wilful.

    • 12 Feb 2019
  • India offshore bonds: prepare for a tough year

    Indian debt issuers have started 2019 with a bang, rolling out more than $3bn of bonds in January. Will the country eclipse the dismal dollar bond volumes it managed last year? Don’t bet on it. As a divisive election looms, it is more likely that Indian issuance will disappoint for a second year running.

    • 12 Feb 2019
  • Maoyan was right to play it safe with IPO

    Chinese new economy company Maoyan Entertainment priced its Hong Kong IPO this week, after a short delay that allowed it to add a high-profile cornerstone investor. Don’t let the deal’s bottom-of-the-range pricing fool you: the company and its banks made the right move.

    • 29 Jan 2019
  • 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.

    • 24 Jan 2019
  • 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 firms raising debt offshore. But the central bank has also put up new roadblocks for issuers that could drastically affect their access to capital markets.

    • 22 Jan 2019

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Europe

  • Brazilian borrowers should step up

    Latin America's primary bond market has had its slowest start for nine years despite strong appetite for emerging market debt. This has presented an unexpected opportunity for issuers, and those from Brazil are best placed to take advantage.

    • 19 Feb 2019
  • Cross-border recognition of assets is key to pan-Baltic covered bond success

    Covered bonds offer a way for Baltic banks to develop a new seam of long-term standalone wholesale funding. But a successful conclusion to this project will depend on whether investors are convinced there is an effective mechanism for cross-border recognition of assets.

    • 19 Feb 2019
  • There’s only one way forward for Greek NPLs

    As investors and service providers pour into the market for Greek non-performing loans, authorities in the country have proposed two schemes to help the country's banks meet their ambitious targets for selling off these assets and cleaning up their balance sheets. Only one of them deserves serious consideration.

    • 19 Feb 2019
  • Enthusiasm for Brazil equities may be premature

    Investors should beware the surge in Brazilian equities that coincided with the election of its new president Jair Bolsonaro last year.

    • 19 Feb 2019

more Europe View

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 %
  • Last updated
  • Today
1 Goldman Sachs 1,472.64 4 8.89%
2 CITIC Securities 1,389.13 8 8.39%
3 China International Capital Corp Ltd 1,340.29 6 8.09%
4 UBS 1,164.77 8 7.03%
5 Morgan Stanley 1,105.27 8 6.67%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 5,661.56 45 10.50%
2 JPMorgan 3,669.90 22 6.81%
3 Citi 3,555.05 26 6.59%
4 Deutsche Bank 2,395.32 20 4.44%
5 UBS 2,374.41 23 4.40%

Asian polls & awards

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.