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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Sun Hung Kai jumps on strong market for tap
Sun Hung Kai Properties took advantage of a favourable market backdrop and solid aftermarket performance of its latest dollar bond to return with a tap just four days after the original transaction was priced.
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BoCom puts more weight on dollars in new triple-trancher
China’s Bank of Communications came out with a $1.95bn-equivalent three-tranche deal on Thursday. It opted for a bigger dollar portion and a slimmer offshore renminbi (CNH) bond, compared with its last outing.
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Bond flurry continues but Vietnamese bank falls short
The overwhelming supply of international bonds from Asia continued on Tuesday, as issuers dashed to raise dollars, and in one case, sterling. But not every borrower was able to cross the finish line.
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New World China breaks five-year loan hiatus
New World China Land, the mainland China property business arm of Hong Kong’s New World Development Co, has returned to the offshore loan market after five years for a HK$5bn ($643m) borrowing.
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Greater China issuers flood market with dollar bonds
Seven borrowers from Greater China raised about $2bn from new dollar bonds on Monday, while Hong Kong's Cathay Pacific tapped the Singapore dollar market.
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 | 13 | 5 | 0.03 | 1 | 1.18% | 4.90% |
| Bookrunners of International Emerging Market DCM | 19 | 18 | 0.50 | 7 | 1.67% | 0.97% |
| Bookrunners of Global Structured Finance | 2 | 7 | 0.54 | 1 | 20.16% | 4.20% |
| Syndicated Loan Revenue - EMEA | 20 | 45 | 0.01 | 16 | 1.77% | 0.32% |
| All Sterling Bonds | 19 | 0.07 | 1 | 0.42% | ||
| Leveraged Syndicated Loans | 10 | 1 | 0.03 | 1 | 1.99% | 17.49% |
| European Sovereign Bonds | 15 | 0.06 | 1 | 0.55% | ||
| Bookrunners of Central and Eastern Europe: Loans | 22 | 0.56 | 3 | 1.66% | ||
| Bookrunners of Asia Pacific (ex-Japan) G3 DCM | 16 | 19 | 0.57 | 7 | 2.45% | 2.00% |
| Bookrunners of G3 Syndicated Loans (Asia Pacific ex-Japan) | 1 | 0.03 | 1 | 14.29% | ||
| Bookrunners of China Domestic DCM | 5 | 4 | 0.54 | 1 | 8.33% | 6.18% |
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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LBBW GBP500m 1.5% Jan 25 bail-in senior green
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Société Générale EUR1.5bn 0.75% Jan 27 bail-in senior
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KBC Group EUR500m 0.75% Jan 30 bail-in senior
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Banca Monte dei Paschi di Siena €500m 2.625% senior
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Erste Group EUR500m 3.375% PNC Apr 27 AT1
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EIB GBP750m 0.75% Jul 27
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CPPIB Capital GBP500m 0.875% Dec 24
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NWB EUR1bn 0.05% Jan 30
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ADB EUR1bn 0.025% Jan 30
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EIB USD1bn FRN Jan 23
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UniCredit €1.25bn 1.2% Jan 26 6NC5, €750m 1.8% Jan 30 bail-in senior
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Banca Monte dei Paschi di Siena €400m 8% 10NC5 tier two
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IDA GBP1.5bn 0.75% Dec 24
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Italy EUR7bn 2.45% Sep 50
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Belgium EUR6bn 0.1% Jun 30
All International Bonds
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | Citi | 44.89 | 154 | 8.67% |
| 2 | JPMorgan | 38.43 | 144 | 7.42% |
| 3 | BofA Securities | 30.55 | 121 | 5.90% |
| 4 | Barclays | 29.38 | 116 | 5.68% |
| 5 | Goldman Sachs | 25.17 | 88 | 4.86% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 0.69 | 5 | 12.72% |
| 2 | Goldman Sachs | 0.59 | 2 | 10.80% |
| 3 | BofA Securities | 0.52 | 4 | 9.65% |
| 4 | Credit Suisse | 0.48 | 3 | 8.80% |
| 5 | Sumitomo Mitsui Financial Group | 0.36 | 3 | 6.59% |
Bookrunners of all EMEA ECM Issuance
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | Morgan Stanley | 1.17 | 7 | 12.11% |
| 2 | JPMorgan | 1.06 | 8 | 10.99% |
| 3 | Citi | 0.98 | 7 | 10.18% |
| 4 | Goldman Sachs | 0.84 | 4 | 8.75% |
| 5 | Barclays | 0.78 | 8 | 8.05% |
