Latest high yield news

  • Greater China corporates rush out for new deals

    Greenland Hong Kong Holdings returned to the market on Tuesday for the second time in as many weeks, as Shandong Ruyi Technology Group Co and Hong Kong conglomerate Swire Pacific also launched dollar deals.

    • 06:30 AM
  • Kaisa puts history behind with exchange/new money priced

    Kaisa Group Holdings has priced the new money portion of an exchange offer, swapping old variable rate bonds with four new sets of fixed rate notes. While bankers on the deal said that the company achieved its goals with the liability management exercise, some away from the trade said the issuance size was smaller than expected.

    • 23 Jun 2017
  • Shimao bows to market turmoil, falls short of size goal

    China’s Shimao Property Holdings braved the volatile market on Thursday to close a $450m deal, but fell short of meeting its ambitions for a larger size.

    • 23 Jun 2017
  • Jinmao goes for price over size in choppy market

    China Jinmao Holdings Group sold a senior perpetual bond in a busy market on Thursday, and against a weak market backdrop after reports that the China Banking Regulatory Commission was ordering checks on lenders' loan exposures.

    • 23 Jun 2017
  • Chinese trio to hit the road for dollar bonds

    Qinghai Provincial Investment Group Co, Guangdong Hengjian Investment Holding Co and China Logistics Property Holdings Co are expected to meet Reg S investors early next week.

    • 23 Jun 2017
  • Rare Hong Kong name plots return to dollars

    Hong Kong property company Lai Sun Development Co is planning a return to the dollar debt market after a more than four year hiatus.

    • 23 Jun 2017
  • Motherson scopes out euro bond return

    Samvardhana Motherson Automotive Systems Group is seeking €300m from a seven year bullet.

    • 23 Jun 2017
  • China duo keep liability management on the boil

    Multi-billion-dollar exchange plus new money offerings from China Evergrande and Kaisa Group took centre stage in Asia DCM this week, keeping liability management as the market's hot topic. The deals are considered a win-win for issuers, which can lock in relatively cheap funding, and for investors, which are compensated by an exchange premium, while also allowing Chinese borrowers to pre-empt regulatory hurdles, writes Addison Gong.

    • 22 Jun 2017
  • Kaisa nears finish line for exchange/new money deal

    Kaisa Group Holdings, the only Chinese developer to default on offshore debt back in 2015, started taking bids on Thursday for the new issuance portion of an exchange offer. Four sets of fixed rate notes will be sold to replace the company’s outstanding variable rate senior bonds.

    • 22 Jun 2017
  • Chinese property bonds front and centre on Thursday

    Property names China Jinmao Holdings Group and Shimao Property Holdings, along with India’s Adani Ports and Special Economic Zone, launched new dollar deals on Thursday.

    • 22 Jun 2017

High yield news archive

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 CITIC Securities 38.46
2 China Merchants Bank Co 22.73
3 China CITIC Bank Corp 19.23
4 Industrial and Commercial Bank of China (ICBC) 8.74
4 Bank of China (BOC) 8.74

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Jun 2017
1 China International Capital Corp Ltd 7,142.62 32 6.46%
2 CITIC Securities 7,084.43 35 6.40%
3 Goldman Sachs 5,862.83 22 5.30%
4 UBS 5,062.96 30 4.58%
5 China Securities Co Ltd 4,866.64 27 4.40%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Jun 2017
1 HSBC 19,498.75 114 9.27%
2 Citi 16,632.93 100 7.91%
3 JPMorgan 12,891.37 69 6.13%
4 Standard Chartered Bank 10,679.29 69 5.08%
5 Morgan Stanley 9,451.45 45 4.49%

Asian polls & awards

  • RMB internationalisation: 10 questions for the market, part 2

    Every year, our sister publication Asiamoney carries out an Offshore RMB Poll. As part of that process, the magazine asks the market for its thoughts on important renminbi topics. In this third year, we received around 2,300 valid responses, up 3% on a year ago. The ten questions included a new one on the inclusion of onshore RMB assets in global indices. Here we present the answers to the final five questions.

  • RMB internationalisation: 10 questions for the market, part 1

    Every year, our sister publication Asiamoney carries out an Offshore RMB Poll. As part of that process, the magazine asks the market for its thoughts on important renminbi topics. In this third year, we received around 2,300 valid responses, up 3% on a year ago. The ten questions included a new one on the inclusion of onshore RMB assets in global indices. Here we present the answers to the first five questions.

  • Made in China: The best banks and deals of 2016

    You know who won, now find out why. GlobalCapital Asia and Asiamoney present the extended results of our 2016 China Deals and Investment Bank of the Year awards, recognising achievement both on and offshore.

  • Asia’s standout deals

    GlobalCapital Asia and Asiamoney present the extended results for our 2016 Best Country Deals. Discover why these bond, equity and loan transactions delivered outstanding outcomes for issuers and investors.

  • Aussie award winners: The best banks and deals of 2016

    The names have been announced, now find out why they stood out from the crowd. GlobalCapital Asia and Asiamoney present the extended results for our 2016 Australia Deals and Investment Bank of the Year awards, recognising achievement in equities, bonds, loans and investment banking.