Latest corporate local currency bond news

  • Masala bonds: between a rock and a hard place

    For every step forward that the Masala bond market takes, it goes two steps backwards, with the Reserve Bank of India recently putting up barriers to keep high yield issuers out of offshore rupees. Cutting off low grade Masala issuance isn’t the worst thing to come out of the central bank’s announcement — the rules could also stifle investment grade deals.

    • 20 Jun 2017
  • Indonesia's Japfa, Lippo pull investor interest

    Japfa Comfeed Indonesia and Lippo Malls Indonesia Retail Trust wrapped up their fundraisings successfully on Monday while Soechi Lines was forced to pull its debut deal.

    • 13 Jun 2017
  • Traditional medicine company seals Panda in tough market

    China Traditional Chinese Medicine Holdings (CTCM) this week issued its second Panda bond, raising Rmb2bn ($294.2m) from a three year note amid difficult market conditions.

    • 13 Jun 2017
  • Lippo Malls trust looks for Sing dollars

    Lippo Malls Indonesia Retail Trust has opened books for a Singapore dollar perpetual non call 5.5 year offering, as two of its compatriots also hit the offshore market.

    • 12 Jun 2017
  • Traditional medicine company returns for Panda dose

    China Traditional Chinese Medicine Holdings is returning to the Panda bond market for Rmb2bn ($294.2m) three year notes, according to documents filed with Shanghai Clearing House.

    • 09 Jun 2017
  • RBI builds wall to keep out high yield Masala issuers

    The Reserve Bank of India has added restrictions to the issuance of rupee-denominated bonds, essentially cutting off the country's high yield issuers from the market.

    • 08 Jun 2017
  • Adani Ports to set sail with $1.5bn bonds

    Adani Ports and Special Economic Zone is planning to raise up to $1.5bn via a domestic or international bond offering, and is also exploring a possible issuance of equity or convertible bonds.

    • 29 May 2017
  • China downgrade to trigger repricing of bonds

    Moody’s downgrade of China triggered a slight widening of spreads on international dollar bonds from the country’s issuers on Wednesday, but the reaction was otherwise largely muted. Despite the tepid response, market watchers say the downgrade could, and should, do more to reset pricing in the offshore debt market. Morgan Davis reports.

    • 25 May 2017
  • CGIF and Surbana Jurong team up on project bonds

    Credit Guarantee & Investment Facility (CGIF) and infrastructure consulting firm Surbana Jurong are joining up to boost the use of local currency bonds in funding greenfield infrastructure projects in southeast Asia.

    • 25 May 2017
  • Daimler leads Panda issuance, CPNE debuts green RMB bond

    Germany's Daimler has rapidly returned to the Panda bond market, pricing a dual-trancher last week. Its deal was followed by China Power New Energy Development Company (CPNE)’s debut green Panda, a rarity in the renminbi market.

    • 23 May 2017

Corporate local currency bond 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.