Latest high grade news

  • The GlobalCapital debt capital markets survey: banks expect to make money and hire

    Markets go into 2020 fretting about a global recession and an escalation of tradetensions between the US and China, according to 25 heads of debt capital markets in the EMEA market, in Toby Fildes’ annual outlook survey. Respondents are mildly pessimistic on spreads and fees in the primary markets as well. But on the plus side, bankers are feeling hopeful about sustainability-themed bonds and almost unanimously believe issuance will top $270bn.

    • 13 Dec 2019
  • Cracks show amid bumper year for Indian bonds

    Indian issuers thronged the offshore bond market this year, with volumes from the country easily beating 2018 numbers. But cracks in the market have started to show. While deal flow will be strong in 2020, concerns around the health of the financial sector and the changing status of state-owned enterprises are keeping investors on edge. Morgan Davis reports.

    • 12 Dec 2019
  • Chinese banks play it safe as LGFV concerns grow

    The Chinese local government financing vehicle (LGFV) sector ran into some trouble this week, causing a sell-off in the secondary market and a primary deal to be pulled. The fallout from the events could lead to a challenging start to 2020, writes Addison Gong.

    • 12 Dec 2019
  • HBIS takes on 2020 refinancing with $300m outing

    Hebei-based steelmaker HBIS Group raised $300m from a bond this week ahead of an April maturity. It hit the market when investor confidence was shaken by recent and upcoming defaults from China.

    • 12 Dec 2019
  • Embattled Tewoo announces exchange, tender results

    Chinese state-owned commodities trader Tewoo Group has announced the final results of its offshore debt restructuring, with investors accepting losses on their principals or facing delayed repayments up to 2039.

    • 12 Dec 2019
  • Corrected: LGFV woes continue as Shangrao unexpectedly pulls deal

    Shangrao Investment Holding Group Co tried to brave the market with a three year bond on Tuesday despite a volatile start to the week for local government financing vehicles (LGFVs), but it ended up pulling the dollar transaction.

    • 11 Dec 2019
  • LGFV bonds bounce back after default fear

    Fear of an onshore default by a Chinese local government financing vehicle (LGFV) led to a sell-off in the dollar bond market on Monday. But after news emerged of a government rescue of the company, both the primary and secondary markets quickly recovered.

    • 10 Dec 2019
  • REC nabs $500m in end of the year deal

    India's REC, formerly known as Rural Electrification Corp, raised $500m from a five year bond on Thursday.

    • 06 Dec 2019
  • Kunming Rail debuts strong with dual-tranche bonds

    Chinese local government financing vehicle (LGFV) Kunming Rail Transit Group Co made its inaugural appearance in the dollar market on Thursday, raising $500m after a large price tightening.

    • 06 Dec 2019
  • Zhuhai LGFV supports Macau with 364-day bond

    Zhuhai Huafa Group Co showed a vote of confidence in Macau’s stock exchange on Wednesday when it priced a $200m bond that was tailored to Macau's investors.

    • 05 Dec 2019

High grade news archive

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.