• Bond market liquidity starts drying up

    Three Chinese issuers hit the market on Tuesday with dollar deals, but each saw a very different outcome. One company sealed a successful trade, another locked up a private placement style bond, while the third was forced to pull its transaction.

    • 13 Dec 2017
  • Chinese issuers continue rushing to the market

    Three Chinese issuers hit the debt market on Tuesday, launching dollar deals. While the pace of new issuance is beginning to slow down, there appears to be no end in sight for the primary bond market.

    • 12 Dec 2017
  • China Reform, CGNPC, Pearl III kick-start new deals

    China Reform Holdings Corp, China General Nuclear Power Corp (CGNPC), Hong Kong’s Pearl Holding III and Shimao Property Holdings are among the issuers in the market with new transactions on Monday.

    • 04 Dec 2017
  • Lodha uses London growth angle to bag $125m tap

    India’s Lodha Developers International netted $125m on Monday from a tap of its bonds sold back in 2015, using its recent development and growth story in the London market to hook investors.

    • 28 Nov 2017
  • Lodha Developers taps market for dollars

    India’s Lodha Developers International opened books for a tap of its existing $200m 12% 2020s on Monday, more than two years after the original notes were sold.

    • 27 Nov 2017
  • Dollar bond pipeline builds up in Asia

    The year-end bond rush is upon us, with a number of issuers from China, India and South Korea mandating banks on Tuesday for their planned dollar bonds.

    • 21 Nov 2017
  • Chinese high yield issuers rush to the market

    Chinese issuers Xinyuan Real Estate Co and Hong Yang Group Company are attracting bids for new dollar transactions, while Oceanwide Holdings Co is set to hold a two-day roadshow in Hong Kong.

    • 15 Nov 2017
  • Guangzhou R&F finds $500m success

    Guangzhou R&F secured a $500m 2023 bond on Monday, leveraging on a heavy anchor order book to seal the deal.

    • 14 Nov 2017
  • CSC, Wuhan Dangdai grab deals on choppy day

    China South City Holdings and Wuhan Dangdai Science & Technology Industries (Group) Co grabbed a total of $600m from bonds on Monday, navigating a weak market backdrop to close their deals.

    • 14 Nov 2017
  • WuHan DangDai set for debut, Xinyuan on the road

    WuHan DangDai Science & Technology Industries (Group) Co is marketing its inaugural international bond. Separately, Xinyuan Real Estate Co is meeting investors this week for its second dollar bond of the year.

    • 13 Nov 2017
  • Yango Group, Jiayuan fund at a premium

    Chinese property developers Yango Group Co and Jiayuan International Group both appeared to have coughed up for their bond sales on Thursday, ahead of expected heavy supply from the country in the coming weeks.

    • 10 Nov 2017
  • Yango, Jiayuan lay foundations for bonds

    Property developers Yango Group Co and Jiayuan International Group are marketing new dollar bonds on Thursday. The former has opted for a three year, while the latter is choosing to go short with a 364-day deal.

    • 09 Nov 2017
  • HNA's funding costs surge with new bond

    China's embattled HNA Group Co returned to the bond market with a $300m deal on Thursday. But the company was forced to stomach a sharp increase in its funding costs.

    • 03 Nov 2017
  • China Vanke, HNA Group keep bond spree going

    Property giant China Vanke Co and HNA Group Co came to the market on Thursday with dollar bonds, taking vastly different approaches. Vanke opted for a tenor of 10 years, but HNA kept it ultra-short.

    • 02 Nov 2017
  • Elion Resources digs interest for dollar debut

    Beijing-headquartered Elion Resources Group Co will sell an international bond for the first time, having mandated the joint leads to work on an Asian roadshow and the proposed issuance.

    • 16 Oct 2017
  • Geo Energy finds timing is everything for dollar debut

    Geo Energy Resources found success on Wednesday with its second attempt to sell a debut dollar bond, after waiting two months for a receptive market window.

    • 28 Sep 2017
  • Geo Energy hopes for second time lucky with bond

    Geo Energy Resources is making a second attempt at selling a dollar bond, two months after the Indonesian coal producer decided to cancel its transaction.

    • 27 Sep 2017
  • Unmet demand fuels Medco Energi’s $100m tap

    Indonesia’s Medco Energi Internasional has added $100m to its outstanding five non call three bonds from last week, bagging a total of $400m as Chinese investors continue to prove a receptive audience.

    • 17 Aug 2017
  • Indonesia's Medco navigates choppy market

    Indonesia’s Medco Energi Internasional braved a rocky market to grab $300m on Thursday, deciding to go ahead with its issuance on expectations of worse conditions further ahead.

    • 11 Aug 2017
  • Medco Energi pumps out new transaction

    Indonesia’s Medco Energi Internasional, which counts state-owned electricity generator Perusahaan Listrik Negara as one of its clients, is marketing a new dollar bond.

    • 10 Aug 2017
  • Indonesia’s Medco gauges appetite for 144A/Reg S bond

    Oil and gas exploration and production company Medco Energi Internasional is eyeing the offshore market for a senior bond, and will meet fixed income accounts in Asia, Europe and the US.

    • 31 Jul 2017
  • China firms ‘amaze’ rivals with bond market sweep

    Chinese investment banks and brokerages had a dazzling performance in Asian DCM during the first half, remaining the preferred choice for the country’s offshore issuers while also making big leaps in boosting their international client base. With their rise have also come increasing concerns around best market practices – but even these may soon be a thing of the past. Addison Gong reports.

    • 06 Jul 2017
  • Hilong slides into market with $250m debut

    Hilong Holding debuted in the bond market on Thursday with a $250m three year bullet, managing to somewhat defy concerns around its concentration in the volatile oil industry.

    • 16 Jun 2017
  • Hainan Airlines, Hilong ride on steady market post rate hike

    HNA Group company Hainan Airlines Holding Co rolled out a 364 day bond on Thursday, becoming the second issuer to seek a short-term deal recently. Meanwhile, Chinese oilfield equipment provider Hilong Holding is selling an inaugural three year note.

    • 15 Jun 2017
  • China's Hilong drills for new dollar bond

    Chinese high yield company Hilong Holding has mandated banks for a dollar bond.

    • 08 Jun 2017
  • Four vie for dollar investor attention

    The Asia ex-Japan G3 bond market saw a slew of issuers from a variety of backgrounds hit the market on Thursday, with borrowers from Greater China as well as Indonesia venturing offshore.

    • 25 May 2017
  • Sri Lanka serves up new dollar notes

    The Democratic Socialist Republic of Sri Lanka opened books for a new dollar offering on Thursday, braving a quiet week in Asia's debt capital markets.

    • 04 May 2017
  • China Oil, Yida and Citic serve up bond feast

    Chinese corporates and FIGs contributed to most of the primary supply in Asia DCM on Tuesday, with China Oil and Gas Group, Yida China Holdings and Citic Securities snapping up a combined $1.45bn.

    • 12 Apr 2017
  • Asia DCM in a frenzy as Easter holiday looms

    Asia’s primary DCM market is busy on Tuesday ahead of the long Easter weekend, with Lianyungang Port Group, China Oil and Gas Group, Yida China Holdings and Golden Wheel Tiandi Holdings Company opening books for their respective dollar bonds.

    • 11 Apr 2017
  • Greater China corps flood market with mandates

    Yida China Holdings, Peking University Founder Group Company, Red Star Macalline Group Corp and HKICIM Group are looking to hit the offshore debt market, mandating banks for their respective Reg S transactions on Monday.

    • 10 Apr 2017
  • Zheshang Bank markets AT1, Guanghui Group mandates

    China Zheshang Bank Co is out with its maiden international additional tier one, while Xinjiang Guanghui Industry Investment (Group) Co, the largest shareholder in China Grand Auto, is prepping for its offshore debut.

    • 22 Mar 2017
  • Greater Chinese aviation names fly with $810m

    Events, including a rise in the probability of a March interest rate hike and US President Donald Trump’s speech to Congress, did not hold investors back from jumping into deals from Grand China Air, China Aircraft Leasing Group (CALC) and Hong Kong Express Airways (HK Express) on Tuesday.

    • 02 Mar 2017
  • Bond deluge as corporates, FIGs hunt for deals

    The strength of the primary debt market in Asia shows no signs of abating, with a number of borrowers heading out on Thursday for fresh dollar fundraisings.

    • 02 Mar 2017
  • Greater China issuers set to flood Asia DCM

    Issuers from Greater China are set to storm the debt market soon with China Reinsurance Finance Corp, China Cinda Asset Management Co, Grand China Air Co and Pacific Century Premium Developments eyeing dollar offerings. Separately, New China Life Insurance Company has got the green light from its board to raise funds offshore.

    • 27 Feb 2017
  • Chinese corps test investor appetite for new deals

    Citic and Xinyuan Real Estate are out with their respective bonds on a busy Tuesday in the dollar debt market, as China Jinmao Holdings Group also announces a tender plus new issue as part of its liability management.

    • 21 Feb 2017

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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