• Chinese issuers flood offshore bond market

    Bond sales from Chinese issuers continued unabated on Thursday despite heavy supply in the first half of the week, with firms raising a combined $1.1bn from the debt market.

    • 18 Sep 2020
  • Times China presses on with refinancing with $350m outing

    Times China Holdings raised $350m from a 5.5 year bond on Tuesday as a way to get ahead of its 2021 dollar maturities.

    • 16 Sep 2020
  • Dalian Wanda, Logan widen in aftermarket

    Bonds sold on Monday by Chinese conglomerate Dalian Wanda Group Co and property developer Logan Group Co have underperformed in the secondary market.

    • 15 Sep 2020
  • ChemChina adds $3bn to coffers with five-tranche bond

    China National Chemical Corp (ChemChina) made a splash in the bond market this week with a dual currency five-tranche deal that raised close to $3bn.

    • 15 Sep 2020
  • Guangzhou Metro grabs $830m from dual-tranche outing

    Chinese local government financing vehicle (LGFV) Guangzhou Metro Group Co priced a tight dual-tranche deal on Thursday, including a 10 year tranche for the first time, in a bid to take advantage of falling yields.

    • 11 Sep 2020
  • Xinyuan sells $300m bond at initial guidance

    Chinese property developer Xinyuan Real Estate Co, whose outstanding bonds have suffered because of the Covid pandemic, opted for size over price for its $300m return this week.

    • 11 Sep 2020
  • Zhenro finds price advantage with debut green bond

    Investors rewarded Zhenro Properties Group for selling its first green bond this week, pumping orders into the $350m transaction and allowing the issuer to price the deal at its lowest coupon ever.

    • 04 Sep 2020
  • Beijing Infra ditches keepwell for tight guaranteed bond

    Beijing Infrastructure Investment Co used a direct guarantee structure for its dollar bond return instead of a keepwell agreement, just days after keepwell deals sold by Peking University Founder Group were not recognised in a debt restructuring. The move paid off for the metro operator — bolstering the rating of its deal and helping it get away with tight pricing. Alice Huang reports.

    • 03 Sep 2020
  • China South City, Kaisa focus on secondary performance

    Chinese property developers China South City Holdings and Kaisa Group Holdings offered generous premiums for their bond outings this week in a bid to ensure strong aftermarket performance.

    • 03 Sep 2020

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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