• The Global RMB Poll 2018

    The Global RMB Poll 2018 runs from February 26 to March 30. Corporations, financial institutions and investors from around the world that have used renminbi services are welcome to participate.

    • 21 Feb 2018

Top Story

  • PBoC touts bond reform amid deleveraging, opening up

    The People’s Bank of China has laid out its next moves to upgrade the domestic bond markets, including better market standards, clearer default rules and further opening to foreign investors — steps that could make regulators less active in the corporate debt market.

    • 21 Feb 2018


China DCM News

  • Vivat bonds tumble as Beijing takes control

    Outstanding bonds issued by Vivat NV, the Dutch insurance group, suffered on Friday morning after its parent company Anbang Insurance Group was seized by Chinese authorities — but a sale to a European firm could provide an upside for bondholders.

    • 23 Feb 2018
  • Fund managers back Redco’s short-dated note

    Redco Properties Group priced an opportunistic transaction on Thursday, raising a larger-than-expected $300m. Unlike some other 364-day deals, its transaction saw strong support from real money accounts.

    • 23 Feb 2018
  • Far East Horizon doubles up with dollars and renminbi

    Chinese leasing firm Far East Horizon was one of the first issuers to reopen the international bond market after a lull of more than a week, raising $300m from a dual-currency transaction on Thursday. But it was forced to pay up for the dollar portion due to lingering volatility in the market.

    • 23 Feb 2018
  • Turkey marches towards Panda debut

    The Republic of Turkey is preparing to issue its first Panda bond by the end of the year, having mandated three banks to handle the deal.

    • 22 Feb 2018
  • Chinese issuers return to the bond market

    Chinese issuers are back following the Lunar New Year break. Far East Horizon and Redco Properties Group are both wooing bond investors, effectively reopening the dollar debt market in Asia.

    • 22 Feb 2018

more China DCM

Comment

  • Panda bonds aren’t fit for purpose. Time to cut the red tape.

    Panda bond issuance has so far been dominated by overseas-incorporated Chinese names. That bolsters volumes, but it does little to help the market fulfil its role of boosting RMB internationalisation. Policymakers have the chance to fix it — but only if they are bold enough to let markets play a bigger role.

    • 07 Feb 2018
  • Dim sum bonds: here today, gone tomorrow

    China’s offshore renminbi bond market has made a strong start to the year, with two foreign issuers already selling dim sum notes. The signs for a robust 2018 are there but the market’s return to form will be contingent on more than just issuer interest.

    • 16 Jan 2018
  • European equities benefit from China's Blue Sky thinking

    European stock markets have enjoyed a solid start to 2018, led by a metals and commodities rally that has been strengthening since the beginning of autumn. But the market must consider whether the good times are organic or due to temporary measures in China.

    • 09 Jan 2018

Policy News

  • PBoC touts bond reform amid deleveraging, opening up

    The People’s Bank of China has laid out its next moves to upgrade the domestic bond markets, including better market standards, clearer default rules and further opening to foreign investors — steps that could make regulators less active in the corporate debt market.

    • 21 Feb 2018
  • JPM nails world first with RMB clearing mandate

    JP Morgan has become the first non-Chinese financial institution to get an official renminbi clearing bank licence, joining Bank of China's New York branch as the second such firm in the US, the People’s Bank of China said on February 13.

    • 14 Feb 2018
  • Luxembourg ready for increased RMB flows, says fund body

    Renminbi bullishness has served Luxembourg well. The tiny country has enjoyed substantial China-related fund flows in 2017, largely thanks to a wider offering of investments, Marc Andre Bechet, director of legal and tax at the Association of the Luxembourg Fund Industry (Alfi), told GlobalRMB.

    • 30 Jan 2018

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 Industrial and Commercial Bank of China (ICBC) 35.00
2 China CITIC Bank Corp 30.00
3 China Merchants Securities Co 17.00
4 HSBC 5.00
4 Standard Chartered Bank 5.00

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 09-Feb-18 Sino-Ocean Group Holdings Hong Kong 3,000
2 06-Feb-18 Global Logistic Properties via Iowa China Offshore Holdings Hong Kong 1,200
3 05-Feb-18 China Merchants Port Holdings (CMP) Hong Kong 500
4 01-Feb-18 The Emirate of Sharjah United Arab Emirates 2,000
5 25-Jan-18 Sino-Ocean Group Holdings Hong Kong 3,000

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 64.14
2 Deutsche Bank (Taipei) 7.95
3 CLSA 7.22
3 Mitsubishi UFJ Financial Group (MUFG) 7.22
5 CTBC Bank (formerly Chinatrust Commercial Bank) 2.85

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 22-Feb-18 Far East Horizon China 630
2 08-Feb-18 Sinochem Offshore Capital Company China 1,000
3 30-Jan-18 Rabobank The Netherlands 500
4 17-Jan-18 Asian Development Bank (ADB) Philippines 100
5 17-Jan-18 Export-Import Bank of Korea (Kexim) South Korea 270