Latest RMB securitization news in Asia

  • Updated: Dongfeng-Nissan kicks off H2 ABS race

    Dongfeng Nissan Auto Finance is selling a Rmb4.5bn ($674.4m) ABS deal next week — the first by a foreign originator in the second half. Sources say the originator has been afforded a nice window to issue given the looser onshore liquidity, but it will enjoy less flexibility around the structure of the deal.

    • 13 Jul 2018
  • SAIC-GMAC prints jumbo Rmb10bn ABS deal

    General Motors’ joint venture sealed a Rmb10.4bn ($1.62bn) deal in the Chinese securitization market on June 6, marking its biggest outing so far. Bankers on the deal said the auto company wanted to bag the cash before onshore rates come under pressure in the second half of the year.

    • 07 Jun 2018
  • Updated: SAIC-GMAC raises the stakes in China ABS

    General Motors’ Shanghai-based joint venture is gearing up for its biggest securitization transaction in China. The Rmb10.4bn ($1.62bn) notes will be up for grabs not only for onshore investors, but also those tapping the market via Bond Connect.

    • 30 May 2018
  • RMBS: Chinese banks take aim at Bond Connect

    While Bond Connect has opened up China’s booming securitization market, most international investors are only tapping deals originated by foreign auto finance companies. But this is starting to change as Chinese banks prepare to sell residential mortgage-backed securities (RMBS) through the bond link.

    • 21 May 2018
  • China ABS: Liquidity boost lifts FAF’s floating combo

    Fortune Auto Finance sold two floating tranches in China’s securitization market on April 20. It captured the onshore market’s optimism on the back of the People’s Bank of China’s announcement last week to release extra liquidity through a reserve requirement ratio (RRR) cut.

    • 24 Apr 2018
  • FAF leads charge as foreign autos eye ABS, vanilla RMB bonds

    Fortune Auto Finance (FAF) is approaching onshore investors with a Rmb3bn ($477.5m) transaction on Friday. The auto company is coming to the market as a number of foreign originators unveil their plans to raise more onshore RMB — from both structured and vanilla fixed income deals.

    • 20 Apr 2018
  • GAC-Sofinco undeterred by rising cost in China ABS

    Despite bagging Rmb4bn ($633.2m) from the Chinese asset-backed securities market on Tuesday, GAC-Sofinco Auto Finance failed to attract offshore interest and priced the deal wider than it did in its last transaction. But these upsets have not affected the carmaker’s appetite for more onshore deals.

    • 22 Mar 2018
  • Crédit Ag’s JV joins China auto ABS race

    GAC-Sofinco Auto Finance is preparing to sell a Rmb4bn ($633m) deal in the Chinese asset-backed securities market on March 20, set to be the third foreign name origination in three weeks.

    • 14 Mar 2018
  • Nissan’s JV returns with fixed-floating ABS combo

    Dongfeng Nissan Auto Finance stuck to the strategy from its last transaction in October 2017 — of selling a fixed-rate note accompanied by a floating-rate tranche — as it returned to the Chinese asset-backed securities market on Thursday, raising Rmb4.5bn ($709.2m).

    • 09 Mar 2018
  • The price is right: SAIC-GMAC seals ABS in China

    SAIC-GMAC Automotive Finance has sealed its first asset-backed securities deal this year in the Chinese interbank bond market, raising Rmb3bn ($473.3m) from two floating-rate tranches on Monday.

    • 06 Mar 2018

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 22.39
2 CITIC Securities 13.39
3 Agricultural Bank of China (ABC) 12.17
3 Industrial and Commercial Bank of China (ICBC) 12.17
5 China CITIC Bank Corp 10.95

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 12,347.28 50 8.27%
2 Citi 10,937.22 60 7.33%
3 Morgan Stanley 9,836.89 36 6.59%
4 China International Capital Corp Ltd 7,946.42 27 5.33%
5 China Securities Co Ltd 7,436.55 29 4.98%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 15,269.13 121 7.26%
2 Citi 14,283.19 91 6.80%
3 JPMorgan 10,369.33 52 4.93%
4 Bank of America Merrill Lynch 9,897.67 56 4.71%
5 Goldman Sachs 9,025.15 40 4.29%

Asian polls & awards

  • GlobalCapital opens Green/SRI Bond and Loan Awards Poll 2018

    After a year of burgeoning growth and change in green, social and sustainability bond issuance, with huge acceleration in green loans, GlobalCapital today invites you to vote in its third Awards poll for this market.

  • The Australian Fixed Income Poll 2018

    Asiamoney, in association with National Australia Bank, invites all fixed income investors in Asia and Europe to participate in the Australian Fixed Income Poll 2018. The online poll will take only five to 10 minutes to complete.

  • Regional Capital Markets Awards Part IV: Investment Bank

    In the last instalment of our 2017 awards, we present the full write-ups of the winners of Best Asian Investment Bank and Best Investment Bank.

  • Regional Capital Markets Awards Part III: Bonds

    In the third instalment of our 2017 awards, we present the full write-ups of the winners of the Best Local Currency Bond, Best High Yield Bond, Best Financial Bond, Best SSA Bond, Best Investment Grade Bond, Best Project Finance Deal, Best Bond, Best G3 and Local Currency Bond House, and Best High Yield Bond House.

  • Regional Capital Markets Awards Part II: Equities

    In the second instalment of our 2017 awards, we present the full write-ups of the winners for Best Follow-On/Accelerated Bookbuild, Best Equity-Linked Deal, Best IPO, Best ECM Deal and Best ECM House.