Latest China DCM news

  • Luye Pharma boosts convertible to $300m

    Hong Kong-listed Luye Pharma Group sealed a convertible bond on Monday night, pocketing $300m from the upsized deal.

    • 11:15 AM
  • CGNPC reaps rewards of IG status

    China General Nuclear Power Corp (CGNPC) raked in $600m on Monday from its third green bond sale, benefitting from investors’ eagerness for investment grade paper.

    • 11:00 AM
  • Fosun locks in funding for tender, Kaisa tap raises $500m

    Fosun International has raised a larger-than-expected $700m to help fund a tender offer that will close next week, while Kaisa Group Holdings was in and out of the market with a $500m tap of two existing bonds.

    • 09:15 AM
  • Zhongyuan Yuzi puts past behind with strong bond comeback

    Local government financing vehicle (LGFV) Zhongyuan Yuzi Investment Holding Group Co priced a $500m deal that was nearly six times covered, a year after cancelling a planned issuance, thanks to a combination of prudent execution strategy as well as improved sentiment on the sector.

    • 06:30 AM
  • Maybank’s second BRI Panda gets warm welcome

    Maybank completed its second Rmb2bn ($291.5m) Belt and Road Panda trade on Thursday, pricing both tranches at the bottom of the price range.

    • 21 Jun 2019
  • CRCC sets benchmark for Chinese SOE sub perps

    China Railway Construction Corp has priced an unusual $1bn subordinated perpetual bond, with more issuers expected to adopt a similar structure in the wake of new guidelines on accounting treatment for corporate perps.

    • 21 Jun 2019
  • Bonds news in brief: Chinese issuers take centre stage

    Chinese local government financing vehicles (LGFVs) and property developers took advantage of positive sentiment after dovish comments from the Federal Reserve to flood the offshore market with bonds.

    • 21 Jun 2019
  • Trump tweet helps YY CB draw surge in risk appetite

    Chinese video-based social media platform YY pocketed $850m from a well-timed dual-tranche convertible bond. The deal — launched after repeated indications of interest in US-listed stocks — landed on a burst of risk appetite that followed US president Donald Trump’s tweet confirming his meeting with Chinese leader Xi Jinping at the G20 gathering in Japan next week. Jonathan Breen reports.

    • 20 Jun 2019
  • LGFV bond bonanza as supply forecast dims

    China’s recent measures to curb local government debt by restricting new offshore issuance from their financing vehicles led to one of the busiest weeks for the sector, as companies raced to beat the June 30 deadline when their regulatory quotas expire, writes Addison Gong.

    • 20 Jun 2019
  • China MoF completes first auction of the year

    China’s Ministry of Finance has sold its first offshore renminbi bond of 2019, raising Rmb5bn ($729m) on Thursday.

    • 20 Jun 2019

China DCM news archive

GlobalRMB Panda Bonds league table

Rank Arranger Share % by Volume
1 Bank of China (BOC) 21.85
2 China Merchants Securities Co 14.67
3 Industrial and Commercial Bank of China (ICBC) 14.44
4 Agricultural Bank of China (ABC) 8.89
5 China Securities 7.41

Panda Bond Database

Pricing Date Issuer Country Size Rmb (m)
1 20-Jun-19 Maybank Malaysia 2,000
2 30-May-19 Portugal Portugal 2,000
3 17-May-19 Trafigura The Netherlands 540
4 16-May-19 CITIC Pacific China 1,000
5 15-May-19 Republic of the Philippines Philippines 2,500

Offshore RMB Bond Top Bookrunners

Rank Bookrunner Share % by Volume
1 Standard Chartered Bank 25.05
2 Credit Agricole 7.04
2 HSBC 7.04
4 Bank of China (Hong Kong) (BOCHK) 6.90
4 Bank of Communications Hong Kong Branch (BOCOM HK) 6.90

Latest Offshore RMB Bonds

Pricing Date Issuer Country Size Rmb (m)
1 22-May-19 Agricultural Development Bank of China (ADBC) China 3,000
2 16-Apr-19 ICBC Singapore Branch China 1,000
3 10-Apr-19 Bank of China Macau Branch (BOC Macau) China 4,500
4 15-Mar-19 Bank of Communications Hong Kong Branch (BOCOM HK) China 2,500
5 13-Mar-19 Daimler International Finance Germany 1,000