Bank of China top stories-
People news in brief: February 28, 2019
HKEX makes several hires — JPM poaches Olympian from GS for Aus ECM — BOC’s Sebastian Ha resurfaces at Chinese rival
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BOC’s Ha resurfaces at Chinese rival
Former Bank of China syndicate head Sebastian Ha has joined SPDB International as its head of fixed income.
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PBoC opens first central bank bills swap
The People’s Bank of China (PBoC) made good on its promise to swap perpetual bonds for government bills on Wednesday, kicking off a Rmb1.5bn ($222m) swap that forced the central bank to start issuing bills again after a long hiatus.
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Onshore perps still out of reach for small Chinese banks
Bank of China’s Rmb40bn ($5.9bn) perpetual bond has opened up a possible path for other banks with similar funding needs, but smaller banks may still find it hard to attract investors, said analysts and bankers this week. Widening the scope of perpetual bonds so that insurance companies can purchase them will be key to solving the problem.
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BOC loses debt syndicate head in Hong Kong
Bank of China’s Hong Kong-based debt syndicate head Sebastian Ha is leaving the firm next month.
Latest market news
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Sanctioned Avic pays premium for bond
China's Avic International Holding Corp had to offer investors a premium for its latest dollar bond, to compensate them for the risk associated with its inclusion on a US sanctions list.
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ADB readies long-awaited Panda return
The Asian Development Bank (ADB) has hired banks to arrange a roadshow for its first Panda bond in over a decade, to be launched after Chinese New Year.
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SJM gets $10bn book for $1bn bond debut
Macau casino operator SJM Holdings generated a $10bn-plus book for its $1bn debut bond this week, despite tight pricing and the lack of US investors. Its credit profile, the transaction’s timing and a comprehensive marketing strategy worked in its favour.
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Chinese borrowers keep up bond flow
Chinese companies were undeterred from selling bonds last Friday, usually a quiet day of the week for deal flow, with four borrowers raising funds.
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Everbright Water seals Rmb1bn Panda
Frequent Panda bond issuer China Everbright Water priced a three year deal on Thursday, meeting its maximum size target of Rmb1bn ($155m).
Bank of China In The Key League Tables
| Asset | Rank | STLY | Amount $bn | No of issues | Share % | STLY Share % |
|---|---|---|---|---|---|---|
|
|
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| Global Syndicated Loan Volume | 12 | 19 | 44.46 | 223 | 2.43% | 1.58% |
| Bookrunners of International Emerging Market DCM | 16 | 13 | 1.30 | 17 | 2.06% | 2.14% |
| Syndicated Loan Revenue - EMEA | 20 | 45 | 0.01 | 16 | 1.77% | 0.32% |
| Leveraged Syndicated Loans | 6 | 7 | 33.38 | 183 | 4.50% | 3.01% |
| European Sovereign Bonds | 17 | 21 | 0.11 | 1 | 0.36% | 0.16% |
| Bookrunners of Central and Eastern Europe: Loans | 17 | 16 | 0.45 | 3 | 2.56% | 1.91% |
| Bookrunners of Asia Pacific (ex-Japan) G3 DCM | 11 | 9 | 1.06 | 15 | 2.82% | 3.02% |
| Bookrunners of G3 Syndicated Loans (Asia Pacific ex-Japan) | 9 | 4 | 1.86 | 13 | 3.64% | 5.21% |
| Bookrunners of China Domestic DCM | 25 | 6 | 0.07 | 1 | 0.77% | 4.34% |
| Bookrunners of Singapore dollar DCM | 1 | 0.20 | 1 | 25.38% | ||
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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Land NRW EUR1.5bn 0.2% Jan 51
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UK GBP6.5bn 0.875% Jan 46
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Cades GBP1.5bn 0.125% Dec 25 social bond
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France EUR7bn 0.5% May 72
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NWB EUR500m 0% Feb 37
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EIB EUR1bn FRN Jan 28
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AIIB USD3bn 0.5% Jan 26 sustainable development bond
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Banque Fédérative du Crédit Mutuel GBP400m 0.875% Dec 27
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Erste Group Bank EUR500m 0.25% Jan 31
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SNCF SA EUR1.5bn 1% Jan 61
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Spain EUR10bn 0.1% Apr 31
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CEB EUR1bn 0% Jan 31
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World Bank EUR2bn 0.2% Jan 61
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NIB USD1.25bn 0.5% Jan 26
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EFSF EUR3bn 0% Jan 31, EFSF EUR2bn 0.05% Jan 52
All International Bonds
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 28.16 | 118 | 8.09% |
| 2 | Citi | 27.35 | 87 | 7.86% |
| 3 | BofA Securities | 20.32 | 74 | 5.84% |
| 4 | BNP Paribas | 19.76 | 67 | 5.68% |
| 5 | HSBC | 19.56 | 72 | 5.62% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | BNP Paribas | 60.87 | 123 | 14.06% |
| 2 | Credit Agricole CIB | 28.59 | 93 | 6.60% |
| 3 | Santander | 25.41 | 90 | 5.87% |
| 4 | JPMorgan | 23.88 | 61 | 5.52% |
| 5 | UniCredit | 21.51 | 103 | 4.97% |
Bookrunners of all EMEA ECM Issuance
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | Morgan Stanley | 0.94 | 4 | 13.47% |
| 2 | Goldman Sachs | 0.78 | 5 | 11.09% |
| 3 | Credit Suisse | 0.67 | 3 | 9.64% |
| 4 | HSBC | 0.61 | 3 | 8.77% |
| 5 | BofA Securities | 0.61 | 2 | 8.70% |
