ICBC top stories-
S&P breaks new ground with first Chinese domestic rating
Six months after receiving the licence to rate Chinese domestic issuers and their issuance programmes, S&P Global (China) Ratings has provided its first rating in the Mainland.
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People moves in brief
ING’s Boekhout to head Commerz corporate biz — ICBC loan syndication head resigns — Ex-Barclays’ Wright joins S&P
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ICBC loses head of global loan syndication
The London-based head of global loan syndication at Industrial & Commercial Bank of China has resigned, GlobalCapital understands.
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China market round-up: ICBC given new chairman, first quarter GDP indicates recovery, seven funds ready for Shanghai tech board
In this round-up, former Bank of China chairman Chen Siqing has been moved to be chairman of Industrial and Commercial Bank of China, China’s gross domestic product (GDP) grew 6.4% and the first batch of funds keen to invest in Shanghai tech board listing have received approval to do so
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ICBC seeks approval for perpetual
Industrial and Commercial Bank of China (ICBC) and China Citic Bank are eyeing a total of Rmb120bn ($17.9bn) perpetual bonds, adding heavy supply to a market opened by Bank of China in January.
Latest market news
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Trafigura returns for annual dual-currency outing
Singaporean commodities company Trafigura has returned to the loan market for its annual borrowing, seeking a smaller $1bn-equivalent as it tests the market's appetite for the deal.
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Ford kicks off 2019 China auto ABS series
Ford Automotive Finance is set to join the Chinese auto loan ABS issuance spree with a Rmb4.776bn ($695m) four-tranche deal on July 23. After this transaction, the originator will have raised a chunky Rmb31.6bn from the market since its debut five years ago.
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AB InBev’s Asia unit pulls jumbo HK IPO
Budweiser Brewing Company Apac shelved what could have been the largest float globally so far this year and the biggest in nearly a decade in Hong Kong after investors rejected its punchy valuation target, dealing a blow to the city’s IPO market.
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Budweiser yet to price Hong Kong IPO
Budweiser Brewing Apac has delayed pricing its jumbo float on the Hong Kong Stock Exchange, according to a source at the company.
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Bonds news in brief: Mengniu Dairy, LGFVs rush out post Powell hearing
A wave of issuers — mostly Chinese — including China Mengniu Dairy Co and local government financing vehicle Guangzhou Development District Financial Holdings flooded the bond market on Thursday, riding the positive sentiment after the US Federal Reserve chairman Jerome Powell signalled a rate cut later this month.
ICBC In The Key League Tables
| Asset | Rank | STLY | Amount $m | No of issues | Share % | STLY Share % |
|---|---|---|---|---|---|---|
|
|
||||||
| Bookrunners of International Emerging Market DCM | 19 | 15 | 4,816.54 | 61 | 1.18% | 1.90% |
| Bookrunners of Global FIG | 21 | 23 | 10,401.82 | 55 | 1.19% | 1.02% |
| All Corporate Bonds | 20 | 20 | 17,244.80 | 133 | 1.28% | 1.21% |
| Bookrunners of Central and Eastern Europe: Loans | 6 | 23 | 773.42 | 4 | 4.95% | 1.04% |
| Bookrunners of Asia Pacific (ex-Japan) G3 DCM | 18 | 14 | 4,204.51 | 56 | 1.72% | 1.91% |
| Bookrunners of G3 Syndicated Loans (Asia Pacific ex-Japan) | 22 | 11 | 739.74 | 5 | 1.18% | 3.10% |
| Bookrunners of China Domestic DCM | 4 | 5 | 24,328.51 | 128 | 5.65% | 5.72% |
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Bank Profiles
Latest news by market and league table performance
Bond Comments
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L-Bank USD2bn 2% Jul 24
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Land NRW USD1.5bn 1.875% Jul 22
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IADB USD1bn 1.875% Jul 21, USD1.5bn 2% Jul 26
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Greece EUR2.5bn 1.875% Jul 26
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Banca Monte dei Paschi di Siena EUR300m 10.5% Jul 29 tier two
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Royal Bank of Canada EUR1bn 0.125% Jul 24
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Tunisia EUR700m 6.375% Jul 26
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EFSF EUR2bn 0.05% Jul 29, EUR1bn 1.75% Jul 53 tap
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UK GBP2.5bn 0.125% Aug 41 linker tap
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Italy EUR3bn 2.8% Mar 67
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Banco de Sabadell EUR1bn 0.875% Jul 25
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Saudi Arabia €1bn 0.75% Jul 27, €2bn 2% Jul 39
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KfW USD4bn 1.75% Aug 22
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EIB GBP400m 2.50% Oct 22 tap
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MuniFin EUR500m 0.05% Sep 29 green bond
All International Bonds
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | JPMorgan | 227,365.29 | 1021 | 8.28% |
| 2 | Citi | 211,590.92 | 883 | 7.70% |
| 3 | Bank of America Merrill Lynch | 176,561.36 | 736 | 6.43% |
| 4 | Barclays | 164,503.56 | 674 | 5.99% |
| 5 | HSBC | 136,422.24 | 745 | 4.97% |
Bookrunners of All Syndicated Loans EMEA
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | BNP Paribas | 27,431.07 | 110 | 7.85% |
| 2 | Credit Agricole CIB | 25,823.81 | 106 | 7.39% |
| 3 | JPMorgan | 21,834.93 | 53 | 6.25% |
| 4 | Bank of America Merrill Lynch | 21,382.31 | 54 | 6.12% |
| 5 | SG Corporate & Investment Banking | 16,786.71 | 79 | 4.80% |
Bookrunners of all EMEA ECM Issuance
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Morgan Stanley | 7,509.08 | 37 | 9.67% |
| 2 | JPMorgan | 7,363.27 | 46 | 9.48% |
| 3 | Goldman Sachs | 6,842.44 | 35 | 8.81% |
| 4 | Citi | 5,763.97 | 41 | 7.42% |
| 5 | UBS | 4,691.07 | 23 | 6.04% |
