Latest hybrid news

  • Beijing Capital lands $500m from new sub perp

    Chinese government-owned Beijing Capital Group Co sold a $500m perpetual deal on Thursday, just a couple of weeks ahead of the scheduled call date of an old bond by its real estate arm.

    • 08 Nov 2019
  • CRCC sets benchmark for Chinese SOE sub perps

    China Railway Construction Corp has priced an unusual $1bn subordinated perpetual bond, with more issuers expected to adopt a similar structure in the wake of new guidelines on accounting treatment for corporate perps.

    • 21 Jun 2019
  • Happy New Year! Asian issuers end lunar year with a bang

    Abundant supply, a diverse crop of issuers and some rare long-tenor deals characterised Asia’s bond market ahead of the week-long Chinese New Year holiday, setting the stage for a positive February. Addison Gong reports.

    • 31 Jan 2019
  • Asian bond market gears up for last-minute push despite volatility

    After another volatile week, during which primary issuance went from hero to zero and the secondary market tumbled, Asian bond bankers are preparing for what they hope will be a busy last few weeks of the year — possibly until the very last working day of 2018, writes Addison Gong.

    • 22 Nov 2018
  • Doosan Power thrives on Kexim guarantee

    The pricing achieved by Doosan Power Systems on its $300m capital bond is being viewed by some as “against all fundamental logic”, given the strong market technicals for high quality and shorter-dated South Korean paper.

    • 19 Oct 2018
  • Syngenta waits in the wings as Grand City rides wave of hybrid demand

    German residential property company Grand City Properties brought its third corporate bond deal of 2018 to the market on Tuesday, while the return of seed company Syngenta with a jumbo multi-tranche deal neared.

    • 17 Apr 2018
  • Debt bankers fret as heavy pipeline looms large

    DCM bankers in Asia are gearing up for a hectic April as investors put the US interest rate hike behind them. But how will borrowers, particularly those that are lower rated, navigate the many fundraising challenges ahead? Addison Gong finds out.

    • 22 Mar 2018
  • Non-call events weigh on market watchers as rates rise

    A Chinese company’s decision to pay an extra 300bp in coupon to defer payments on its onshore perpetual notes has not only shocked the domestic bond market, but also inevitably raised concerns offshore. Bankers and investors are now paying much closer attention to the onshore/offshore dynamics.

    • 14 Feb 2018
  • China Jinmao builds $300m from latest hybrid

    China Jinmao Holdings Group priced its third perpetual bond of the year on Monday, raising $300m from a subordinated deal that will mainly be used to repay bank loans.

    • 31 Oct 2017
  • CK Infrastructure finds lukewarm demand for perp

    Cheung Kong Infrastructure Holdings sold a fixed-for-life hybrid bond denominated in dollars on Wednesday. The deal did not draw an overwhelming response, but market participants said overall demand for the structure is muted.

    • 17 Aug 2017

Hybrid 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.