Top Story

  • CSRC’s London-Shanghai connect blueprint disappoints

    China’s market regulator has released the first set of proposed rules for the long-talked-about London-Shanghai Stock Connect — but whether it represents a real opening up or simply a political manoeuvre is yet to be seen. Jonathan Breen and Paolo Danese report.

    • 06 Sep 2018

DCM - In Focus

Special Announcements

  • The results are in! GlobalRMB announces award winners

    GlobalRMB is pleased to announce the winners of its inaugural awards, honouring those banks, companies and individuals that have made the biggest contribution to bridging the gap between China and the rest of the world.

    • 04 Sep 2018

China DCM News

  • China Merchants prices fixed/floating rate combo

    China Merchants Bank Co Hong Kong branch has sold a dual-tranche transaction worth $800m, tapping into both the fixed rate and floating rate investor bases.

    • 19 Sep 2018
  • Tianjin turmoil drags down Tewoo’s bond

    China’s Tewoo Group Co was forced to pull a benchmark-sized bond from the market on Tuesday, after investors questioned the credentials of a transaction from the Tianjin province.

    • 19 Sep 2018
  • Shenzhen, Sichuan SOEs hold their own

    Two state-owned companies from Shenzhen and Sichuan managed to woo investors to their dollar bonds on Tuesday, thanks in part to the strong credentials of their respective provinces.

    • 19 Sep 2018
  • BMW drives off with chunky BavSky China ABS

    BMW Automotive Finance (China) Co priced a Rmb4.5bn ($656m) Bavarian Sky China 2018-1 securitization this week, its largest China auto ABS deal to date.

    • 19 Sep 2018
  • Hitachi snaps up Rmb600m from CNH return

    Japan’s Hitachi Capital Corp has added to the recent flurry of issuance in offshore renminbi, bagging Rmb600m ($87m) on Monday from its second CNH transaction in a year.

    • 18 Sep 2018

more China DCM

Comment

  • The struggle continues for Chinese property companies

    Chinese property companies that have been relying heavily on the country’s banks for their offshore loans should beware. The mainland bank lending tap may not be open for too long.

    • 19 Sep 2018
  • Asian IPO issuers: keep your expectations in check

    IPOs from Asian companies have painted a mixed picture, with deals continuing to get done even as the trade war between the US and China looks set to worsen. But the incredible share debuts of Nio and Qutoutiao last week are unlikely to mark a turning point. If anything, issuers should continue to tread cautiously on pricing.

    • 18 Sep 2018
  • Club-style bonds: acceptable, but within reason

    The best funding plan is one that suits an individual issuer, and if that means a club deal without a legitimate public bookbuilding process, so be it. But even so, there are some lines that shouldn’t be crossed.

    • 04 Sep 2018

Policy News

more policy news

People & Markets

more people and markets


Exclusive Data from GlobalRMB

RMB deals snapshotDatabase and customisable league tables of Panda Bonds
Database of Offshore RMB Bonds: search hundreds of deals
Regional deal volumes: compare annual dim sum issuance across the world
Offshore RMB deposits: track changes month-by-month
Cross-border trade settlement: volume graphs for Hong Kong and China
Clearing volumes for Hong Kong

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 China Merchants Securities Co 19.83
2 Industrial and Commercial Bank of China (ICBC) 14.01
3 CITIC Securities 11.86
4 Agricultural Bank of China (ABC) 10.78
5 China CITIC Bank Corp 9.70

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 20-Aug-18 ABC International (parent: Agricultural Bank of China) China 3,000
2 16-Aug-18 Daimler Germany 4,000
3 15-Aug-18 Everbright Water China 800
4 08-Aug-18 Veolia Environnement SA France 1,000
5 19-Jul-18 Beijing Enterprises Water Group China 3,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 34.30
2 HSBC 20.85
3 Societe Generale 4.33
4 Bank of Taiwan 3.71
4 Cathay United Bank 3.71

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 17-Sep-18 Hitachi Capital (UK) United Kingdom 600
2 13-Sep-18 CIFI Holdings China 1,000
3 05-Sep-18 Daimler Germany 1,000
4 03-Sep-18 First Abu Dhabi Bank PJSC United Arab Emirates 650
5 21-Jun-18 Shimao Property Holdings China 1,200