Latest news on RMB and Securitization

  • CCB RMBS sails through amid soaring trade tension

    China Construction Bank had no trouble selling a Rmb9.87bn ($1.4bn) residential mortgage backed securities deal on Tuesday amid rising trade concerns, thanks to support from its underwriter group.

    • 07 Aug 2019
  • CCB eyes return to RMBS with multi-tranche deal

    China Construction Bank (CCB), the largest originator of residential mortgage backed securities in China, is returning to the market with a Rmb9.87bn ($1.43bn) four tranche deal on August 6. All three senior tranches are rated triple-A by S&P Global Ratings.

    • 31 Jul 2019
  • SAIC-GMAC readies third Rmb10bn auto loan ABS

    Shanghai-based SAIC-GMAC, an auto finance company owned by SAIC Motor Corp and General Motors Company, is planning to return to the auto loan ABS market next month with a Rmb10bn ($1.45bn) three-tranche deal.

    • 30 Jul 2019
  • Ford returns to China with tighter, bigger auto ABS

    Ford Automotive Finance sold a Rmb4.776bn ($694m) four-tranche auto loan ABS on Tuesday, its biggest ABS so far, pricing the three senior tranches at tight levels.

    • 24 Jul 2019
  • Geely returns with popular auto loan ABS

    Geely Automobile Holdings has made a rapid return to China’s auto loan ABS market with a Rmb4bn ($581.5m) deal that was a hit with the onshore arms of international banks. While the class A1 tranche was priced tightly, the issuer had to pay up for the mezzanine portion.

    • 22 Jul 2019
  • BMW on funding spree with new auto loan ABS

    BMW returned to China’s auto loan ABS market on Tuesday with a Rmb8bn ($1.2bn) two-tranche deal, its largest issuance so far, and received a big thumbs-up from investors.

    • 17 Jul 2019
  • 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.

    • 16 Jul 2019
  • Geely poised to launch second auto loan ABS

    Genius Auto Finance, a joint venture between Geely Automobile and BNP Paribas Personal Finance, is planning a return to the auto loan ABS market on July 18 with a Rmb4bn ($581.6m) four-tranche deal.

    • 12 Jul 2019
  • BMW readies its biggest auto loan ABS

    After raising Rmb5.5bn ($799m) from its largest auto loan ABS deal in March, BMW’s Chinese auto finance arm is returning for more. The planned Rmb8bn deal will hit the market on July 16.

    • 10 Jul 2019
  • Updated: Dongfeng Nissan pays up for auto ABS

    Dongfeng Nissan sold its 13th Chinese auto loan ABS, a Rmb4.3bn ($621m) three-tranche note, on June 13. Both senior tranches were priced 25bp higher than the issuer's previous deal.

    • 05 Jun 2019

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GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 Bank of China (BOC) 21.07
2 Industrial and Commercial Bank of China (ICBC) 12.89
3 China Merchants Securities Co 12.45
4 Agricultural Bank of China (ABC) 7.55
5 China Securities 6.29

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 22-Aug-19 Mengniu Dairy China 1,000
2 07-Aug-19 Daimler Germany 5,000
3 31-Jul-19 Cassa Depositi e Prestiti SpA Italy 1,000
4 24-Jul-19 Semiconductor Manufacturing International Corp (SMIC) China 2,000
5 10-Jul-19 BMW Finance N.V. Germany 3,500

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 32.50
2 Credit Agricole 6.34
2 HSBC 6.34
4 Bank of China (Hong Kong) (BOCHK) 6.22
4 Bank of Communications Hong Kong Branch (BOCOM HK) 6.22

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 16-Jul-19 CIFI Holdings China 1,600
2 22-May-19 Agricultural Development Bank of China (ADBC) China 3,000
3 16-Apr-19 ICBC Singapore Branch China 1,000
4 10-Apr-19 Bank of China Macau Branch (BOC Macau) China 4,500
5 15-Mar-19 Bank of Communications Hong Kong Branch (BOCOM HK) China 2,500