Asia

  • England expects — but how much?

    The Bank of England will steer banks and insurers to think seriously about climate change. This is great news in itself. But what will count is how far the Bank is willing to push them.

    • 16 Oct 2018
  • Juicy offshore bond yield is no panacea

    Yields on dollar bonds from Chinese issuers have jumped this year, but investors don’t appear to be rising to the bait. A rethink of borrowers’ fundraising strategies should be on the cards.

    • 09 Oct 2018
  • Emerging markets cannot rest on PNG’s laurels

    Papua New Guinea’s dollar bond sale last week was a landmark for the sovereign, which had toyed with the idea of an issuance for more than a decade. But while PNG deserves praise, its success does not reflect a victory for emerging markets.

    • 03 Oct 2018
  • HSBC mutiny memo: Flint must show character

    The lengthy complaint about HSBC management drafted, purportedly, by investment bankers at the firm must be taken seriously and investigated, if its new chief executive John Flint wants to win the confidence of the rest of the staff and shareholders, argues Jon Hay in a GlobalCapital View.

    • 27 Sep 2018
  • Korean insurers must tune in to investors

    Hanwha General Insurance’s failed attempt at a tier two dollar bond last week shows that not all South Korean credits can win over investors, as the buy-side looks at the country’s insurance borrowers with a lack of enthusiasm and a healthy dose of scepticism. With more Korean insurers set to hit the market, it’s time they reassess their approach to fundraisings.

    • 27 Sep 2018
  • HSBC mutiny memo is a chance for Flint to show character

    The lengthy complaint about HSBC management drafted, purportedly, by investment bankers within the firm must be taken seriously and investigated, if its new CEO John Flint wants to win the confidence of the rest of the staff and shareholders.

    • 25 Sep 2018
  • The struggle continues for Chinese property companies

    Chinese property companies that have been relying heavily on the country’s banks for their offshore loans should beware. The mainland bank lending tap may not be open for too long.

    • 19 Sep 2018

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Europe

  • CYBG's IRB boost shows how UK big banks benefit

    CYBG’s move to an internal ratings based (IRB) approach highlights how the UK’s largest lenders enjoy a substantial competitive benefit over the challengers.

    • 16 Oct 2018
  • Turkey needs to fly

    The Republic of Turkey has set price guidance on a new bond issue that equates to 60bp back of its curve. That is a big, sour number for Turkey to have to offer investors, but its goal at this point must be to reopen the capital markets for its banks and corporates. To do that, Turkey's new bond needs to perform.

    • 16 Oct 2018
  • London’s frontier-friendly approach gives clue to UK’s post-Brexit capital markets business

    The UK government might seem to have little clue about where the the City of London will drum up business after the country leaves the EU in March but the City, and notably the London Stock Exchange, has always been more global than European in nature. For better or worse, it will likely come to rely on this more in the months and years to come.

    • 16 Oct 2018
  • Eurozone spending is a little late to the game

    Italy’s deficit expanding budget plans — and their incompatibility with the European Commission’s wishes — may be one of the biggest talking points in the capital markets, but Spain also intends to loosen its deficit in the coming years. While fiscal stimulus after years of austerity should be welcome — so long as it’s spent on growth boosting policies rather than handouts — Europe’s lawmakers at the national and supranational level must really be lambasted for their timing.

    • 16 Oct 2018

more Europe View

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 18.01
2 Industrial and Commercial Bank of China (ICBC) 15.02
3 CITIC Securities 10.77
4 Agricultural Bank of China (ABC) 9.79
5 China CITIC Bank Corp 8.81

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Oct 2018
1 Goldman Sachs 15,658.50 72 7.68%
2 Morgan Stanley 13,801.54 62 6.77%
3 Citi 13,609.47 87 6.67%
4 UBS 10,792.88 67 5.29%
5 China International Capital Corp Ltd 10,501.97 40 5.15%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 20,547.73 174 7.46%
2 Citi 20,227.76 130 7.35%
3 JPMorgan 13,591.21 83 4.94%
4 Bank of America Merrill Lynch 12,328.25 77 4.48%
5 Goldman Sachs 11,208.75 54 4.07%

Asian polls & awards

  • 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.

  • GlobalRMB awards: Person of the year, most impressive innovation

    In the final article on our GlobalRMB awards, we talk about the key innovation of the year and highlight the individual that has made the greatest contribution to the development of China’s cross-border capital markets.

  • GlobalRMB awards: Best bank for securities services

    Securities services was one of the most competitive award categories GlobalRMB had to decide this year. Our awards criteria demanded the near-impossible from participating banks: to beat the competition in the fast-changing China access scheme, while at the same time demonstrating a broad client base and the ability to be at the cutting edge of innovation.

  • GlobalRMB awards: Best for ABS, CNH, G3 and Panda bonds

    In GlobalRMB's Best Bank Awards for China DCM, Standard Chartered wins for ABS and CNH, HSBC takes home the G3 Bond House Award, and Bank of China gets kudos as the Best House for Panda bond issuers.

  • Now open! GlobalCapital Asia Capital Market Awards 2018

    GlobalCapital Asia is pleased to invite pitches for our annual capital markets and investment banking awards, rewarding the most impressive transactions and investment banks of 2018.