Bank of China top stories-
China property bond surge brings in more than $3bn
Three Chinese property companies battled in the primary market on Monday with competing supply. While high yield issuers have been able to sell bonds at ultra-tight prices of late, the weight of supply has started to force issuer’s to pay more to borrow.
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Peking Founder makes quick return for $200m
Peking University Founder Group Co priced a $200m bond tap on Friday, getting ahead of a disappointing non-farm payroll report..
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Chexim returns to euro market for blowout transaction
The Export-Import Bank of China raised €1bn from a three year bullet on Wednesday, bringing home more cash than expected thanks to overwhelming orders from eager investors.
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China property bond spree continues despite widening
When will the supply of Chinese property bonds end? Bankers detected hints of indigestion after a rush of deals last week, but that does not appear to have slowed down the mass of supply. Five more companies turned to dollar bond investors on Monday.
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Great wall of supply: China property bond spree continues
China property names continued their bombardment of the dollar market on Tuesday, as four more bond issuers raised a combined total of $2bn.
Latest market news
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CDB Aviation lands first unsecured syndicated loan
Ireland’s CDB Aviation has signed its first unsecured syndicated loan, as the aircraft leasing company continues its drive to diversify its funding sources.
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BMW innovates with auto lease ABN
Through its majority-owned subsidiary, Herald International Financial Leasing, BMW Group debuted its first asset backed note (ABN) in China, bagging Rmb2.5bn ($387m) through a three tranched fixed rate deal.
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Mercedes-Benz sizes up first 2019 China auto ABS
Mercedes-Benz Auto Finance is on track to price its largest ABS trade under the Silver Arrow China series. The originator, having previously turned to Moody’s and Fitch for international ratings, switched to S&P and gained an AAA rating for its deal.
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Formosa China, Vietnam units make loan comeback
Two subsidiaries of Taiwan’s Formosa Plastics Corp are in the syndicated loan market raising a China onshore facility and an offshore deal respectively.
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BMW gears up for Rmb2.5bn auto lease ABN
BMW Automotive Finance (China) is on track to launch its debut auto lease receivables-backed securitization. The company is expecting to close the Rmb2.5bn ($373m) Bavarian Sky China Leasing 2019-1 asset backed note later this week.
Bank of China In The Key League Tables
| Asset | Rank | STLY | Amount $m | No of issues | Share % | STLY Share % |
|---|---|---|---|---|---|---|
|
|
||||||
| Bookrunners of Global DCM | 23 | 28 | 24,437.30 | 136 | 1.10% | 0.83% |
| Global Syndicated Loan Volume | 17 | 13 | 13,202.05 | 52 | 1.50% | 2.56% |
| Bookrunners of Global ECM | 15 | 58 | 2,658.90 | 9 | 1.48% | 0.23% |
| Bookrunners of International Emerging Market DCM | 14 | 10 | 5,095.19 | 60 | 2.05% | 2.54% |
| Bookrunners of Global FIG | 13 | 21 | 11,397.57 | 35 | 2.32% | 1.00% |
| Syndicated Loan Revenue - EMEA | 20 | 45 | 9.33 | 16 | 1.77% | 0.32% |
| All Corporate Bonds | 21 | 19 | 9,953.41 | 86 | 1.29% | 1.32% |
| Leveraged Syndicated Loans | 9 | 10 | 10,065.71 | 41 | 3.15% | 3.57% |
| Bookrunners of Asia Pacific (ex-Japan) G3 DCM | 12 | 8 | 4,507.49 | 54 | 3.03% | 3.71% |
| Bookrunners of Asia-Pac (ex-Japan) ECM | 8 | 30 | 2,658.90 | 9 | 3.98% | 0.62% |
| Bookrunners of G3 Syndicated Loans (Asia Pacific ex-Japan) | 1 | 2 | 2,625.19 | 5 | 8.27% | 6.18% |
| Bookrunners of China Domestic DCM | 1 | 3 | 18,835.23 | 72 | 8.61% | 6.11% |
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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La Banque Postale EUR750m 1.375% Apr 29 green
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Wells Fargo EUR1bn 0.5% Apr 24
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SFIL USD1.25bn 2.625% Apr 22
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KfW USD3bn 2.375% Mar 21
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IsDB USD1.5bn 2.843% Apr 24 sukuk
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Toronto-Dominion Bank EUR1.5bn 0.375% Apr 24
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BNG EUR600m 0.875% Oct 35
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Manitoba USD1bn 2.60% Apr 24
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L-Bank USD1.5bn 2.375% Apr 21
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IADB AUD500m 1.95% Apr 24 EYE bond
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AfDB NOK500m 1.5% Apr 22 social bond, SEK1.25bn 0.375% Apr 24 green bond
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GTLK USD500m 6.125% Apr 25
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KfW EUR1bn 0.875% Jul 39
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Basque EUR600m 1.125 % Apr 29 sustainability bond
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Yorkshire Building Society GBP275m 3% Apr 25 non-preferred
All International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 133,055.39 | 550 | 8.27% |
| 2 | Citi | 126,084.22 | 495 | 7.84% |
| 3 | Bank of America Merrill Lynch | 105,557.29 | 418 | 6.56% |
| 4 | Barclays | 100,688.34 | 389 | 6.26% |
| 5 | HSBC | 81,359.70 | 426 | 5.06% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Bank of America Merrill Lynch | 11,525.35 | 30 | 7.19% |
| 2 | BNP Paribas | 8,639.54 | 48 | 5.39% |
| 3 | UniCredit | 8,606.13 | 45 | 5.37% |
| 4 | Deutsche Bank | 8,298.69 | 30 | 5.18% |
| 5 | Commerzbank Group | 7,837.68 | 40 | 4.89% |
Bookrunners of all EMEA ECM Issuance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Morgan Stanley | 4,430.39 | 19 | 11.21% |
| 2 | Goldman Sachs | 4,006.06 | 15 | 10.14% |
| 3 | Citi | 3,532.95 | 22 | 8.94% |
| 4 | JPMorgan | 2,809.08 | 19 | 7.11% |
| 5 | UBS | 2,241.39 | 12 | 5.67% |
