• Thailand gives nod to Vietnamese, Laos issuers

    Thailand’s ministry of finance has approved two foreign companies to issue baht-denominated bonds, including the first Vietnamese borrower to tap the market.

    • 24 Jan 2020
  • GBP considers guidance on Enel-style bonds

    The Green Bond Principles organisation has gone public with its plans to set up a working group on sustainability-linked bonds. It will be charged with working out whether the GBP should issue guidance on the new structure — a move that would ensure the GBP remains relevant as the sustainable finance market changes.

    • 23 Jan 2020
  • Asian green bonds build on 2019 momentum

    Green bond volumes reached a record level in 2019 and market participants think the sector is poised for another blow-out year. Korea South-East Power Co (Kosep) and ReNew Power Private gave a further boost to Asia’s growing green bond market this week, selling $750m of notes between them. Morgan Davis reports.

    • 23 Jan 2020
  • Evergrande floods market with $6bn of bonds

    Hengda Real Estate Group Co, a subsidiary of China Evergrande Group, raised $4bn across two tranches on Tuesday, just days after Evergrande nabbed $2bn from another bond sale.

    • 23 Jan 2020
  • Korean, Indian borrowers plug into green bonds

    Korea South-East Power Co (Kosep) and ReNew Power Private gave a further boost to the growing green bond market on Tuesday.

    • 22 Jan 2020
  • Greater China issuers close out year of the pig

    Three companies from the Greater China region sealed bonds on Tuesday, likely to be the last batch of issuers to tap the debt market before the Chinese New Year break begins. No Asian borrowers launched dollar deals on Wednesday.

    • 22 Jan 2020
  • Pulled deals: a warning sign for Asian bonds

    The Asian bond market has been red hot since the start of 2020. With nearly every day bringing a number of blowout deals, it would be easy to overlook the three borrowers that have fallen short of completing their proposed transactions. But the failed deals may be a sign of things to come.

    • 21 Jan 2020
  • Investors pour into China property bonds

    All of the dollar debt issuance from Greater China on Monday came from real estate companies, with six borrowers taking about $1.4bn between them.

    • 21 Jan 2020
  • BSD rides market wave for dollar trade

    Real estate company Bumi Serpong Damai (BSD) followed the recent success of other high yield Indonesian borrowers in the dollar market on January 20, homing in on a refinancing opportunity that had slipped through its fingers in 2019.

    • 21 Jan 2020
  • Europe's CPI scores Singapore dollar bond

    European real estate company CPI Property Group turned to investors in the Lion City last Friday for its first Singapore dollar bond.

    • 20 Jan 2020
  • Medco Energi, Bayan Resources power up dollar bonds

    Indonesia's Medco Energi Internasional and Bayan Resources raised more than $1bn between them from ultra-tight bonds on Thursday.

    • 17 Jan 2020
  • Bonds news in brief: Evergrande, ZhengTong Auto, LGFVs raise funds

    Four Chinese borrowers hit the dollar bond market on Thursday, competing with supply from India, Indonesia and the Philippines.

    • 17 Jan 2020
  • Jollibee's serves 'blowout' inaugural bond

    Jollibee Foods Corp, the owner of the eponymous fast food chain, wowed investors on Thursday with a debut $600m bond that beat the Philippine company’s targets.

    • 17 Jan 2020
  • Lalitpur Power’s bond plan fizzles out

    India’s Lalitpur Power Generation Company has postponed its attempted debut dollar bond after opening bookbuilding on Thursday, according to a source close to the situation.

    • 17 Jan 2020
  • Future Retail rides on Amazon tie-up for bond debut

    Future Retail’s inaugural dollar bond raised the curtain for India’s retail shopping sector, as the company leveraged on its new partnership with e-commerce giant Amazon to raise $500m. But while the industry appeals to investors, issuance pipeline from the country remains thin, writes Morgan Davis.

    • 16 Jan 2020
  • Property companies build on bond momentum

    Three Chinese real estate companies raised $850m between them from the dollar debt market on Wednesday.

    • 16 Jan 2020
  • Lippo Karawaci reprices secondary curve with new notes

    Indonesian real estate developer Lippo Karawaci played to investors' need for diversification away from China, when it raised $325m from a 2025 bond sale.

    • 15 Jan 2020
  • Future Retail raises curtain for Indian retail companies

    Future Retail threw open the door for India's retail shopping sector on Tuesday with its $500m debut bond, getting a solid book of $3bn for the transaction.

    • 15 Jan 2020
  • Bond flurry continues but Vietnamese bank falls short

    The overwhelming supply of international bonds from Asia continued on Tuesday, as issuers dashed to raise dollars, and in one case, sterling. But not every borrower was able to cross the finish line.

    • 15 Jan 2020
  • SMC rides on strong market for $600m perp

    SMC Global Power Holdings Corp took advantage of an exceptionally bullish credit market, getting a peak order book of around $5bn for a $600m deal.

    • 15 Jan 2020
  • Greater China issuers flood market with dollar bonds

    Seven borrowers from Greater China raised about $2bn from new dollar bonds on Monday, while Hong Kong's Cathay Pacific tapped the Singapore dollar market.

    • 14 Jan 2020
  • Investors support Asian bond market boom

    Ten more Asian issuers rushed to the dollar bond market on Monday, further adding to the record debt issuance seen in the region last week.

    • 13 Jan 2020
  • Shriram's social bond gets stellar US support

    Shriram Transport Finance Co appealed to investors in the US by selling a social bond that flew off the shelves, allowing the Indian non-banking financial company to raise $500m.

    • 10 Jan 2020
  • AEV debuts after intense price discovery

    Price discovery was in focus for a $400m debut bond from Philippine conglomerate Aboitiz Equity Ventures (AEV) on Thursday, as the unrated company brought out a rare 10 non-call five year senior deal from the country.

    • 10 Jan 2020
  • Bonds news in brief: LGFVs, developers feast on dollars

    Improved market conditions and a more realistic pricing target allowed a failed deal in December from a local government financing vehicle (LGFV) to sail through this week, while two more property developers joined an offshore funding spree from the sector.

    • 10 Jan 2020
  • Chinese property issuers fuel record January bond supply

    Chinese real estate issuers dominated the dollar bond market this week, with 16 developers pricing deals by Wednesday. Ample liquidity and a risk-on sentiment allowed most issuers to go long and cheap, but the mid-week volatility in the global market proved costly to some companies, writes Addison Gong.

    • 09 Jan 2020
  • Chinese property issuers continue dollar bond onslaught

    Seven Chinese real estate issuers followed five of their peers to the offshore debt market on Tuesday, marking the busiest start to the year for the Asian bond market.

    • 08 Jan 2020
  • Chinese property issuers waste no time to refi

    A number of Chinese real estate companies kicked off their refinancing for 2020 on Monday, with higher rated issuers tapping longer-dated bonds and the weaker names actively engaging in liability management.

    • 07 Jan 2020
  • Manappuram Finance takes $300m as NBFCs look offshore

    The success of Indian gold financing firm Muthoot Finance’s debut dollar bond sale in 2019 spurred gold loan provider Manappuram Finance to seek funds from the international debt market on Monday.

    • 07 Jan 2020
  • Asian bonds poised for busy week

    Asian bond issuers went full speed ahead with their fundraising plans on Monday, launching new deals ahead of Chinese New Year holidays at the end of the month.

    • 06 Jan 2020
  • Chinese Christmas present for Aldesa bondholders

    Struggling Spanish construction group Aldesa saw a Christmas bounce in its Caa1-rated bonds, following a December 25 takeover deal and capital injection from China Railway Construction Corporation.

    • 03 Jan 2020
  • Bonds news in brief: 2019 ends on quiet note

    Industrial Securities (Hong Kong) Financial Holdings, Zhengzhou Zhongrui Industrial Group Co and Shandong Iron & Steel Group Co priced international bonds during the last days of 2019, capping a strong year for Asia’s debt market.

    • 02 Jan 2020
  • Panda Green pushes back distressed exchange deadline

    Chinese solar power operator Panda Green Energy Group has extended the deadline of a distressed exchange offer. The new note issuance will now be finalised in the same week that its $350m bond becomes due.

    • 02 Jan 2020

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 18.86
2 Industrial and Commercial Bank of China (ICBC) 14.39
3 China Merchants Bank Co 14.21
4 China Merchants Securities Co 8.85
5 Agricultural Bank of China (ABC) 5.90

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 China International Capital Corp Ltd 3.43 16 14.07%
2 China Securities Co Ltd 3.30 5 13.56%
3 Morgan Stanley 2.76 8 11.34%
4 CITIC Securities 1.95 6 8.01%
5 Citi 1.49 9 6.11%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 5.04 24 8.43%
2 HSBC 4.17 35 6.98%
3 UBS 3.58 19 5.99%
4 BofA Securities 3.53 11 5.91%
5 Credit Suisse 3.37 24 5.64%

Asian polls & awards

  • GlobalCapital China 2019 awards winners: Part III

    In the final part of GlobalCapital China’s awards announcement, we discuss the key innovation of 2019, and reveal the individual that has made the greatest contribution to reforming and internationalising the Chinese onshore market.

  • GlobalCapital China 2019 awards winners: Part II

    In the second part of GlobalCapital China’s awards announcement, we reveal the winning banks across Panda bonds, G3 bonds and ABS, as well as the best bank for securities services and the most impressive law firm.

  • GlobalCapital Asia capital markets awards 2019: Investment banks

    In the fourth and final instalment of GlobalCapital Asia’s capital markets awards announcements, find out which firms have been named the Best Asian Investment Bank and the Best Investment Bank in the region for 2019.

  • GlobalCapital China announces 2019 awards winners: Part I

    GlobalCapital China, previously GlobalRMB, is pleased to announce the winners of its annual capital markets awards, honouring the banks, companies and individuals that have made the biggest contribution to bridging the gap between China’s markets and the rest of the world. In part one of the awards, we reveal the most impressive issuers in the FIG, corporate and SSA categories.

  • GlobalCapital Asia capital markets awards 2019: Bonds

    In part three of GlobalCapital Asia's awards results announcements, we reveal the winning bond deals across a variety of categories. In addition, we also name the Best G3 Bond House, Best High Yield Bond House and the winner of the Best House for SRI Financing.