• Excellence closes year with anchored trade

    Excellence Commercial Properties Co netted $100m from an offshore bond sale last Friday.

    • 16 Dec 2019
  • Langham closes HK$7.5bn sustainability-linked loan

    Langham Hospitality Investments has closed a HK$7.5bn ($958m) sustainability-linked deal with 11 lenders, marking the first loan of its kind from the hospitality sector in Asia.

    • 11 Dec 2019
  • CréditAg breaks new ground with first Panda bond

    Crédit Agricole printed a Rmb1bn ($142m) three year renminbi bond in China on Wednesday. Despite being a senior preferred deal and including write-down and conversion to equity clauses, both new to onshore investors, the Panda still managed to achieve tight pricing and a well-covered book. Rebecca Feng reports.

    • 05 Dec 2019
  • BoCom Leasing takes $600m as FRNs still hold appeal

    Bank of Communications Financial Leasing Co bagged $600m from a floating rate note (FRN), taking advantage of a strong preference from investors for a floating rate format compared to fixed.

    • 04 Dec 2019
  • Russia's Ilim in market to refinance $500m loan

    Russian pulp and paper producer Ilim Group has launched syndication to refinance a $500m loan, according to bankers. The loan is one of the last expected to be signed in Russia's international syndicated market this year.

    • 06 Nov 2019
  • Citic Securities raises $700m from well-bid bond

    Citic Securities Co returned to the offshore market with a $700m dual-tranche transaction. The deal included a five year bond, a rarity from a Chinese securities house in recent years.

    • 18 Oct 2019
  • CCB nets $1.55bn from euro, dollar bonds

    China Construction Bank returned to the international bond market on Tuesday, turning to dollar and euro investors with two separately-executed deals worth a combined $1.551 billion.

    • 16 Oct 2019
  • ICBC pushes pricing limits with new dollar FRN

    Industrial and Commercial Bank of China raised $1bn from two Libor-linked floating rate notes (FRNs) at record tight levels, a day after its peer Bank of China paid up to issue Asia’s first dollar floater tied to a new benchmark.

    • 11 Oct 2019
  • Twenty-five banks support Orient AMC’s $900m deal

    China Orient Asset Management Co (Orient AMC) priced an almost 10 times covered dual-tranche bond with strong backing from its lead manager consortium. The borrower went out without a keepwell deed from the onshore entity, but investors were undeterred by the structure.

    • 18 Sep 2019
  • ABC Singapore lands tight 3yr FRN

    Agricultural Bank of China’s Singapore branch has sold the tightest three year floating rate note (FRN) from a big four Chinese bank, adding $500m to its coffers.

    • 17 Sep 2019
  • Tianjin LGFV prices bond a year after pulled attempt

    Chinese local government financing vehicles (LGFVs) Tianjin Binhai New Area Construction & Investment Group Co and Changde Urban Construction Investment Group Co both relied on anchor support for their dollar bonds, after recent negative headlines about the sector.

    • 12 Sep 2019
  • ICBC achieves size and price with Greater Bay Area green bond

    Industrial and Commercial Bank of China has priced $3.15bn of green bonds in US dollars, Hong Kong dollars and offshore renminbi (CNH), achieving a number of firsts in the process.

    • 10 Sep 2019
  • Joy City returns for $800m dual-tranche loan

    China’s Joy City Property has returned to the loan market for an up to $800m facility.

    • 26 Aug 2019
  • China banks in CEE upset trad lenders

    Chinese lending to and investment in central and eastern Europe is on the up. China has extended its reach to rival the influence of its western counterparts with its best weapon: money. But many bankers speaking to GlobalCapital this week think the trend is problematic.

    • 15 Aug 2019
  • Chinese high yield borrowers brave post-FOMC market

    Central China Real Estate and Shandong Chenming Paper Holdings have raised a combined $463m from dollar bond investors amid a weak market backdrop.

    • 02 Aug 2019
  • Cofco International closes $2.3bn sustainability loan with 21

    Cofco International, a commodities trading unit of China’s agri-products company Cofco, has increased its sustainability-linked loan to $2.3bn after receiving commitments from 21 lenders.

    • 24 Jul 2019
  • ABC HK pushes inside Chinese big four FRN curve

    Agricultural Bank of China’s Hong Kong branch raised $1bn from a single tranche floating rate note on Tuesday, pricing the deal tighter than its large Chinese state-owned banking peers.

    • 24 Jul 2019
  • Chinese loans news in brief: July 11, 2019

    United Laboratories launches HK$1bn loan — Goshawk seeks $500m in Asia — West China Cement returns for $150m — Wolong debuts in euros — Jingneng Clean Energy pays up for comeback

    • 11 Jul 2019
  • Powerlong receives $200m from three lenders

    Powerlong Real Estate Holdings has received a $200m term loan from three banks, making a comeback to the loan market after one year.

    • 09 Jul 2019
  • Chinese lenders offer dollars to UAE's ENOC

    Emirates National Oil Company (ENOC) has raised a $690m loan from an exclusively Chinese syndicate, a rare event rare for the region.

    • 11 Jun 2019
  • Updated: Dongfeng Nissan pays up for auto ABS

    Dongfeng Nissan sold its 13th Chinese auto loan ABS, a Rmb4.3bn ($621m) three-tranche note, on June 13. Both senior tranches were priced 25bp higher than the issuer's previous deal.

    • 05 Jun 2019
  • BOC Aviation returns for dual-tranche borrowing

    BOC Aviation, the aircraft leasing group owned by Bank of China, is returning to the offshore loan market, seven months after it sealed a smaller transaction.

    • 27 May 2019
  • Chinese financials raise $1.15bn of senior debt

    Chinese issuers were out in force again in the bond markets on Wednesday, with financial companies ICBC International Holdings and Avic International Leasing Co raising $1.15bn between them.

    • 23 May 2019
  • China looks long with perp options

    Three Chinese borrowers sold perpetual notes on Tuesday, raising a combined $900m from the rare structure.

    • 22 May 2019
  • Haitong UniTrust opens books for long-awaited IPO

    Haitong UniTrust International Leasing Corp has finally begun bookbuilding for an IPO, more than two years after it first announced plans to list on the Hong Kong Stock Exchange.

    • 21 May 2019
  • Sfund, Yunnan Metro find robust demand for bonds

    Chinese provincial government-owned Guangzhou Industrial Investment Fund Management Co (Sfund) saw a 14 times covered order book for its return to dollar bonds, while Yunnan Metropolitan Construction Investment Group Co was able to hit its $800m size target.

    • 29 Mar 2019
  • China’s commercial banks flock to tier two

    Chinese commercial banks’ rush to sell tier two bonds has begun. These banks look set to sell more subordinated debt this week than they did in the whole first quarter of 2018.

    • 20 Mar 2019
  • Tesla taps dollars, renminbi for Shanghai factory

    Tesla has raised the equivalent of $521m from the loan market, helping fund its Shanghai factory.

    • 11 Mar 2019
  • CDBL scores tight price for $700m bond

    China Development Bank Financial Leasing Co (CDBL) has raised $700m from the bond market, leaning on anchor orders to squeeze a tight final price.

    • 05 Mar 2019
  • SMIC returns to Pandas after two year break

    Semiconductor Manufacturing International Corporation (SMIC), a red-chip issuer, sealed a three year Rmb1.5bn Panda bond at the end of last week.

    • 04 Mar 2019
  • Haitong closes HK$16bn borrowing

    Haitong International Securities has boosted an offshore borrowing to HK$16bn ($2bn) after receiving strong demand during the syndication.

    • 01 Mar 2019
  • Chinese commercial banks rush to replenish capital

    Chinese banks will sell at least Rmb240bn ($36bn) of tier two bonds in March, launching what bankers think will be a wall of supply.

    • 28 Feb 2019
  • NDB returns to Panda bonds with tight deal

    New Development Bank, the multilateral development bank, returned to the Panda bond market on Monday. It raised Rmb3bn ($446m) from a tightly-priced green bond.

    • 25 Feb 2019
  • Cinda AMC goes conservative on bond size

    China Cinda Asset Management Co raised $1bn from a foray into the bond market, going for the lower-end of its size target despite what bankers on the deal called an ‘overwhelming’ response from investors.

    • 15 Feb 2019
  • CDB lights up HK dollar market with rare triple-trancher

    China Development Bank has made a rare visit to the public Hong Kong dollar bond market, raising HK$4.3bn ($548m) from a triple-tranche floating rate transaction that included a 10 times covered decade-long note.

    • 18 Jan 2019
  • BoCom Leasing adds $1.5bn to coffers with first 2019 bond

    China’s Bank of Communications Financial Leasing Co managed to raise the upper end of its $1.5bn target size at a tighter-than-expected level on Tuesday, a feat achieved despite a busy bond market in Asia.

    • 16 Jan 2019
  • Haitong seeks HK$13.8bn refi via 16 banks

    Haitong International Securities has returned to the loan market for a HK$13.8bn ($1.7bn) refinancing led by a 16-strong group of mandated lead arrangers and bookrunners.

    • 09 Jan 2019

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 17.75
2 Industrial and Commercial Bank of China (ICBC) 14.95
3 China Merchants Bank Co 11.64
4 Agricultural Bank of China (ABC) 10.50
5 China Construction Bank (CCB) 9.48

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 22.44 89 7.39%
2 CITIC Securities 19.78 121 6.52%
3 China International Capital Corp Ltd 19.76 95 6.51%
4 Goldman Sachs 17.76 107 5.85%
5 China Securities Co Ltd 15.52 60 5.11%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 HSBC 28.85 223 7.62%
2 Citi 28.41 169 7.50%
3 JPMorgan 19.37 134 5.12%
4 BofA Securities 18.70 103 4.94%
5 Standard Chartered Bank 17.89 163 4.72%

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