hong kong capital markets - bloomberg finance l.p
TRANSCRIPT
HONG KONG CAPITAL MARKETSLEAGUE TABLESQ1 2020
The Bloomberg Capital Markets Tables represent the top arrangers, bookrunners and advisors across a broad array of deal types including loans,
bonds, equity and M&A transactions; according to Bloomberg standards.
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Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg
Professional Service.
MANAGER RANKINGS
HONG KONG CAPITAL MARKETS
DATA SUBMISSIONS AND QUERIES
Contact EmailPhone
Q1 2020
Equities
Fixed Income
Loans
Irene Huang
Dave Lin
Soomi Oh
+86 21 6104 3057
+852 2974 3196
+65 6231 3428
© 2020 Bloomberg Finance L.P. All rights reserved.
Bloomberg HongKongCapitalMarkets|Q12020
BloombergLeagueTableReports Page1
HongKongDollarBonds
Q12020 Q12019
Firm RankMkt
Share(%)Volume(HKD
Mln)DealCount
PrevRank
PrevMktShare(%)
MktShareChg(%)
HSBC 1 34.571 18,745 43 2 15.698 18.873
MizuhoFinancial 2 14.234 7,718 14 4 7.677 6.557
CreditAgricoleCIB 3 11.178 6,061 17 5 6.203 4.975
Citi 4 6.038 3,274 8 8 4.126 1.912
MitsubishiUFJFinancialGroupInc
5 4.963 2,691 6 11 2.044 2.919
StandardCharteredBank 6 3.227 1,750 4 3 11.201 -7.974
DBSGroup 7 3.068 1,664 5 13 1.593 1.475
DZBank 8 2.398 1,300 2 - - 2.398
CommonwealthBankAustralia 9 2.099 1,138 4 7 4.551 -2.452
BankofChina 10 1.770 960 3 6 4.727 -2.957
BNPParibas 11 1.475 800 4 19 0.819 0.656
AgriculturalBankofChina 12 1.383 750 2 25 0.395 0.988
DeutscheBank 12 1.383 750 3 29 0.356 1.027
JPMorgan 12 1.383 750 2 16 1.043 0.340
NatWestMarkets 15 1.199 650 2 20 0.662 0.537
GuotaiJunanSecurities 16 1.107 600 2 - - 1.107
Scotiabank 16 1.107 600 3 9 4.059 -2.952
XiamenInternationalBank 16 1.107 600 2 - - 1.107
ANZBankingGroup 19 0.922 500 1 10 2.450 -1.528
GoldmanSachs 20 0.778 422 1 31 0.166 0.612
TOTAL 100% 54,222 121 100%
Thistableconsistsofdebt&preferredsecuritiesdenominatedinHongKongDollars.Thisexcludesasset-backedsecurities,bondswithwarrants,andconvertiblesecurities.Thereisaminimumthresholdof12monthsformaturities,callorputperiodsandHKD350MMminimumamountforself-ledsecurities.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.
Financials72%
Government20%
Others8%
HongKongDollarBonds:ManagerRankingsHistory
HongKongDollarBonds:IndustryBreakdown
72%
20%
8%
HSBC
MizuhoFinancial
CreditAgricoleCIB Ci
ti
MitsubishiUFJFinancialGroupInc
StandardCharteredBank
10
20
30
Marke
tSha
re(%
)
0
35
2020 2019 2018
Bloomberg HongKongCapitalMarkets|Q12020
BloombergLeagueTableReports Page2
OffshoreCNYBonds
Q12020 Q12019
Firm RankMkt
Share(%)Volume(CNY
Mln)DealCount
PrevRank
PrevMktShare(%)
MktShareChg(%)
HSBC 1 19.848 7,650 13 1 32.693 -12.845
CreditAgricoleCIB 2 11.688 4,505 11 2 25.285 -13.597
SocieteGenerale 3 5.591 2,155 2 - - 5.591
Natixis 4 5.189 2,000 2 - - 5.189
BankofChina 5 4.605 1,775 4 - - 4.605
StandardCharteredBank 6 4.006 1,544 5 3 14.406 -10.400
BNPParibas 7 3.892 1,500 2 5 2.407 1.485
DeutscheBank 8 3.305 1,274 4 13 1.000 2.305
Nomura 9 3.028 1,167 2 - - 3.028
E.SunCommercialBank 10 2.866 1,104 6 - - 2.866
CentralWealthSecuritiesInvestmentLtd
11 2.724 1,050 1 - - 2.724
BofASecurities 12 2.594 1,000 1 - - 2.594
Citi 12 2.594 1,000 1 - - 2.594
FirstAbuDhabiBankPJSC 12 2.594 1,000 1 20 0.556 2.038
GoldmanSachs 12 2.594 1,000 1 - - 2.594
JPMorgan 12 2.594 1,000 1 - - 2.594
LandesbankBaden-Wuerttemberg 12 2.594 1,000 1 - - 2.594
DBSGroup 18 1.946 750 2 14 0.991 0.955
TDSecurities 18 1.946 750 2 12 1.111 0.835
MizuhoFinancial 20 1.720 663 5 7 1.407 0.313
TOTAL 100% 38,543 66 100%
ThistableconsistsofDimSum&FormosasecuritiesdenominatedinChineseRenmimbi.Thisexcludesasset-backedsecurities,bondswithwarrants,creditlinkednotesandconvertiblesecurities.Thereisaminimumthresholdof12monthsformaturities,callorputperiods,andCNY300MMminimumamountforself-ledsecurities.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.
Government58%
Financials42%
OffshoreCNYBonds:ManagerRankingsHistory
OffshoreCNYBonds:IndustryBreakdown
58%
42%
HSBC
CreditAgricoleCIB
SocieteGenerale
Natixis
BankofChina
StandardCharteredBank
10
20
30
Marke
tSha
re(%
)
0
35
2020 2019 2018
Bloomberg HongKongCapitalMarkets|Q12020
BloombergLeagueTableReports Page3
OffshoreChinaBonds
Q12020 Q12019
Firm RankMkt
Share(%)Volume(USD
Mln)DealCount
PrevRank
PrevMktShare(%)
MktShareChg(%)
BankofChina 1 6.507 3,606 53 4 5.042 1.465
UBS 2 5.425 3,006 26 5 4.216 1.209
CreditSuisse 3 4.892 2,711 33 10 3.337 1.555
HSBC 4 4.304 2,385 45 1 6.512 -2.208
Industrial&CommBankofChina
5 3.894 2,158 38 17 2.528 1.366
StandardCharteredBank 6 3.610 2,001 29 11 3.139 0.471
BofASecurities 7 3.608 1,999 14 27 1.244 2.364
HaitongSecurities 8 3.436 1,904 48 2 6.316 -2.880
ChinaCiticBank 9 3.394 1,881 40 7 3.646 -0.252
GuotaiJunanSecurities 10 3.263 1,808 50 8 3.492 -0.229
BankofCommunications 11 3.043 1,686 39 3 5.840 -2.797
CreditAgricoleCIB 12 2.723 1,509 19 13 3.082 -0.359
DBSGroup 13 2.521 1,397 29 19 2.204 0.317
TFInternational 14 2.493 1,382 9 - - 2.493
Barclays 15 2.456 1,361 24 37 0.626 1.830
ChinaConstructionBank 16 2.373 1,315 37 18 2.369 0.004
ChinaMerchantsBank 17 2.301 1,275 41 16 2.566 -0.265
CITICSecurities 18 2.230 1,236 30 24 1.536 0.694
DeutscheBank 19 2.163 1,199 13 12 3.127 -0.964
Citi 20 2.111 1,170 14 29 1.050 1.061
TOTAL 100% 55,416 137 100%
Thistableconsistsofdebt&preferredsecuritiesissuedbyChineseissuersinallcurrenciesexceptCNY.Thisexcludesasset-backedsecurities,bondswithwarrants,certificatesofdeposit,convertiblesecurities,andcredit-linkednotes.Thereisaminimumthresholdof18monthsformaturitiesandUSD100MMminimumamountissued.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.
Financials73%
Industrials13%
Others14%
OffshoreChinaBonds:ManagerRankingsHistory
OffshoreChinaBonds:IndustryBreakdown
73%
13%
14%
BankofChina
UBS
CreditSuisse
HSBC
Industrial&CommBankofChina
StandardCharteredBank
2
4
6
8
Marke
tSha
re(%
)
0
10
2020 2019 2018
Bloomberg HongKongCapitalMarkets|Q12020
BloombergLeagueTableReports Page4
HongKongEquity&RightsOfferings
Q12020 Q12019
Firm RankMkt
Share(%)Volume(USD
Mln)DealCount
PrevRank
PrevMktShare(%)
MktShareChg(%)
MorganStanley 1 39.482 2,770 9 2 16.643 22.839
HSBC 2 9.157 642 7 3 13.127 -3.970
GoldmanSachs 3 6.366 447 4 1 18.157 -11.791
Citi 4 5.010 351 1 14 2.081 2.929
BofASecurities 5 4.286 301 2 36 0.286 4.000
ChinaInternationalCapitalCorp 6 4.096 287 7 8 2.593 1.503
ChinaMerchantsBank 7 3.584 251 8 19 0.842 2.742
UBS 8 2.930 206 3 6 3.274 -0.344
HaitongSecurities 9 2.906 204 12 13 2.134 0.772
Jefferies 10 1.773 124 1 - - 1.773
GuotaiJunanSecurities 11 1.568 110 7 5 5.188 -3.620
CITICSecurities 12 1.384 97 1 16 1.150 0.234
BankofCommunications 13 1.149 81 9 10 2.349 -1.200
ChinaMerchantsSecurities 14 0.820 58 2 15 1.601 -0.781
ChinaConstructionBank 15 0.788 55 3 7 2.598 -1.810
ShanghaiPudongDevelopmentBank
16 0.787 55 5 48 0.187 0.600
GetNiceHoldingsLtd 17 0.648 45 1 - - 0.648
ZhongtaiSecurities 18 0.564 40 4 45 0.188 0.376
ChinaGalaxyFinancialHoldings 19 0.551 39 3 23 0.590 -0.039
SilkRoadInternationalCapitalLtd 20 0.483 34 3 35 0.312 0.171
TOTAL 100% 7,016 80 100%
Thistableconsistsofequity&rightsofferingssyndicatedinHongKong.Thisexcludesself-ledofferings.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.
Financials42%
HealthCare30%
ConsumerDiscretionary13%
Others16%
HongKongEquity&RightsOfferings:ManagerRankingsHistory
HongKongEquity&RightsOfferings:IndustryBreakdown
42%
30%
13%
16%
MorganStanley
HSBC
Goldm
anSachs Ci
ti
BofASecurities
ChinaInternationalCapitalCorp
10
20
30
Marke
tSha
re(%
)
0
40
2020 2019 2018
Bloomberg HongKongCapitalMarkets|Q12020
BloombergLeagueTableReports Page5
HongKongEquityIPO
Q12020 Q12019
Firm RankMkt
Share(%)Volume(USD
Mln)DealCount
PrevRank
PrevMktShare(%)
MktShareChg(%)
ChinaMerchantsBank 1 12.895 234 6 17 1.933 10.962
ChinaInternationalCapitalCorp 2 10.005 181 5 2 5.958 4.047
HaitongSecurities 3 5.468 99 11 7 4.903 0.565
GuotaiJunanSecurities 4 5.254 95 6 10 3.626 1.628
MorganStanley 5 4.545 82 1 1 9.894 -5.349
BankofCommunications 6 4.447 81 9 3 5.398 -0.951
ChinaMerchantsSecurities 7 3.172 58 2 8 3.679 -0.507
ChinaConstructionBank 8 3.051 55 3 4 5.347 -2.296
ShanghaiPudongDevelopmentBank
9 3.046 55 5 46 0.429 2.617
GoldmanSachs 10 2.272 41 1 12 3.022 -0.750
UBS 10 2.272 41 1 8 3.679 -1.407
ChinaGalaxyFinancialHoldings 12 2.133 39 3 22 1.357 0.776
IndustrialSecurities 13 1.851 34 4 20 1.537 0.314
GFSecurities 14 1.798 33 2 - - 1.798
ZhongtaiSecurities 15 1.710 31 3 42 0.433 1.277
ChinaMinshengBankingCorp 16 1.675 30 4 - - 1.675
GlamCapitalLtd 17 1.499 27 5 - - 1.499
AMTDGlobalMarketsLtd 18 1.393 25 2 11 3.270 -1.877
GuosenSecurities 19 1.374 25 3 - - 1.374
BankofChina 20 1.327 24 1 16 2.095 -0.768
TOTAL 100% 1,813 37 100%
ThistableconsistsofInitialPublicOfferingssyndicatedinHongKong.Thisexcludesself-ledofferings.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.
ConsumerDiscretionary32%
Financials18%
HealthCare16%
Industrials12%
Communications11%
Technology7%
Others4%
HongKongEquityIPO:ManagerRankingsHistory
HongKongEquityIPO:IndustryBreakdown
32%
18%16%
12%
11%
7%
4%
ChinaMerchantsBank
ChinaInternationalCapitalCorp
HaitongSecurities
GuotaiJunanSecurities
MorganStanley
BankofCommunications
5
10
Marke
tSha
re(%
)
0
15
2020 2019 2018
Bloomberg HongKongCapitalMarkets|Q12020
BloombergLeagueTableReports Page6
HongKongEquityOfferings
Q12020 Q12019
Firm RankMkt
Share(%)Volume(USD
Mln)DealCount
PrevRank
PrevMktShare(%)
MktShareChg(%)
MorganStanley 1 40.385 2,770 9 2 16.763 23.622
HSBC 2 9.127 626 6 3 13.222 -4.095
GoldmanSachs 3 6.512 447 4 1 18.288 -11.776
Citi 4 5.124 351 1 14 2.096 3.028
BofASecurities 5 4.384 301 2 35 0.288 4.096
ChinaInternationalCapitalCorp 6 4.189 287 7 7 2.612 1.577
ChinaMerchantsBank 7 3.426 235 7 19 0.848 2.578
UBS 8 2.997 206 3 6 3.298 -0.301
HaitongSecurities 9 2.972 204 12 13 2.149 0.823
Jefferies 10 1.813 124 1 - - 1.813
CITICSecurities 11 1.416 97 1 16 1.158 0.258
GuotaiJunanSecurities 12 1.389 95 6 5 5.225 -3.836
BankofCommunications 13 1.176 81 9 9 2.366 -1.190
ChinaMerchantsSecurities 14 0.839 58 2 15 1.613 -0.774
ChinaConstructionBank 15 0.807 55 3 10 2.344 -1.537
ShanghaiPudongDevelopmentBank
16 0.805 55 5 47 0.188 0.617
ChinaGalaxyFinancialHoldings 17 0.564 39 3 23 0.595 -0.031
IndustrialSecurities 18 0.489 34 4 21 0.674 -0.185
CreditSuisse 19 0.477 33 1 4 6.185 -5.708
GFSecurities 20 0.475 33 2 - - 0.475
TOTAL 100% 6,859 71 100%
ThistableconsistsofequityofferingssyndicatedinHongKong.Thisexcludesrightsofferings,andself-ledofferings.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.
Financials37%
HealthCare33%
ConsumerDiscretionary13%
Communications5%
Others12%
HongKongEquityOfferings:ManagerRankingsHistory
HongKongEquityOfferings:IndustryBreakdown
37%
33%
13%
5%
12%
MorganStanley
HSBC
Goldm
anSachs Ci
ti
BofASecurities
ChinaInternationalCapitalCorp
10
20
30
40
Marke
tSha
re(%
)
0
45
2020 2019 2018
Bloomberg HongKongCapitalMarkets|Q12020
BloombergLeagueTableReports Page7
HongKong/MacauLoans(Bookrunner)
Q12020 Q12019
Firm RankMkt
Share(%)Volume(USD
Mln)DealCount
PrevRank
PrevMktShare(%)
MktShareChg(%)
ChinaMerchantsBank 1 15.520 2,355 7 19 2.191 13.329
BankofChina 2 10.701 1,624 9 3 5.967 4.734
HSBC 3 8.967 1,361 12 1 10.020 -1.053
StandardCharteredBank 4 6.094 925 6 2 9.384 -3.290
ShanghaiPudongDevelopmentBank
5 5.560 844 5 33 0.702 4.858
ChinaConstructionBank 6 5.333 809 6 17 2.446 2.887
DBSGroup 7 5.144 781 4 6 4.449 0.695
MizuhoFinancial 8 4.767 723 5 4 5.179 -0.412
Industrial&CommBankofChina 9 4.642 704 5 7 3.571 1.071
BankofCommunications 10 3.277 497 3 16 2.587 0.690
SumitomoMitsuiFinancial 11 3.269 496 3 12 2.998 0.271
JPMorgan 12 2.030 308 3 23 1.823 0.207
AgriculturalBankofChina 13 1.832 278 2 15 2.620 -0.788
BankofEastAsia 14 1.706 259 2 25 1.715 -0.009
ChinaMinshengBankingCorp 15 1.365 207 2 27 1.548 -0.183
DeutscheBank 15 1.365 207 2 5 4.650 -3.285
ChinaCindaAssetManagement 17 1.359 206 2 21 1.829 -0.470
BofASecurities 18 1.214 184 2 23 1.823 -0.609
Citi 18 1.214 184 2 9 3.008 -1.794
GoldmanSachs 18 1.214 184 2 - - 1.214
TOTAL 100% 15,176 27 100%
ThistableconsistsofloanswithamarketofsyndicationasHongKongorMacau.Thisexcludesbilateralloans.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.
Financials68%
ConsumerStaples8%
Materials6%
Communications6%
Others12%
HongKong/MacauLoans:BookrunnerRankingsHistory
HongKong/MacauLoans(Bookrunner):IndustryBreakdown
68%
8%
6%
6%
12%
ChinaMerchantsBank
BankofChina
HSBC
StandardCharteredBank
ShanghaiPudongDevelopmentBank
ChinaConstructionBank
5
10
15
Marke
tSha
re(%
)
0
20
2020 2019 2018
Bloomberg HongKongCapitalMarkets|Q12020
BloombergLeagueTableReports Page8
HongKong/MacauLoans(MandatedLeadArranger)
Q12020 Q12019
Firm RankMkt
Share(%)Volume(USD
Mln)DealCount
PrevRank
PrevMktShare(%)
MktShareChg(%)
HSBC 1 8.819 1,810 24 3 6.763 2.056
BankofChina 2 7.854 1,612 14 1 7.938 -0.084
DBSGroup 3 6.010 1,233 10 2 6.928 -0.918
ChinaMerchantsBank 4 5.243 1,076 11 20 1.758 3.485
ShanghaiPudongDevelopmentBank
5 4.840 993 12 19 1.818 3.022
ChinaConstructionBank 6 4.284 879 12 14 2.571 1.713
Industrial&CommBankofChina 7 4.004 822 7 4 5.904 -1.900
MizuhoFinancial 8 3.775 775 9 8 4.164 -0.389
StandardCharteredBank 9 3.762 772 10 7 4.276 -0.514
BankofCommunications 10 3.407 699 9 5 5.487 -2.080
Oversea-ChineseBankingCorp 11 3.346 687 7 13 2.600 0.746
BofASecurities 12 3.076 631 5 32 0.733 2.343
ChinaMinshengBankingCorp 13 2.913 598 6 10 3.273 -0.360
ChinaEverbrightBank 14 2.344 481 6 40 0.480 1.864
ChongHingBank 15 2.202 452 6 22 1.456 0.746
ChinaCiticBank 16 2.184 448 6 36 0.726 1.458
AgriculturalBankofChina 17 2.118 435 5 6 5.125 -3.007
SumitomoMitsuiFinancial 18 2.081 427 4 12 2.786 -0.705
ChinaCindaAssetManagement 19 1.868 383 4 16 2.436 -0.568
Scotiabank 20 1.730 355 2 - - 1.730
TOTAL 100% 20,524 41 100%
ThistableconsistsofloanswithamarketofsyndicationasHongKongorMacau.Thisexcludesbilateralloans.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.
Financials68%
ConsumerStaples8%
Materials6%
Communications6%
Others12%
HongKong/MacauLoans:MandatedLeadArrangerRankingsHistory
HongKong/MacauLoans(MandatedLeadArranger):IndustryBreakdown
68%
8%
6%
6%
12%
HSBC
BankofChina
DBSGroup
ChinaMerchantsBank
ShanghaiPudongDevelopmentBank
ChinaConstructionBank
2
4
6
8
Marke
tSha
re(%
)
0
10
2020 2019 2018
Bloomberg HongKongCapitalMarkets|Q12020
BloombergLeagueTableReports Page9
HongKongBorrowerLoans(Bookrunner)
Q12020 Q12019
Firm RankMkt
Share(%)Volume(HKD
Mln)DealCount
PrevRank
PrevMktShare(%)
MktShareChg(%)
ChinaMerchantsBank 1 15.436 9,867 4 23 1.811 13.625
BankofChina 2 12.559 8,027 7 12 3.675 8.884
StandardCharteredBank 3 7.896 5,047 3 2 6.637 1.259
DBSGroup 4 7.292 4,661 3 3 6.208 1.084
MizuhoFinancial 5 6.606 4,222 3 6 5.354 1.252
BankofCommunications 6 6.059 3,873 3 12 3.675 2.384
Industrial&CommBankofChina 6 6.059 3,873 3 8 4.499 1.560
SumitomoMitsuiFinancial 8 5.148 3,291 2 5 5.383 -0.235
HSBC 9 4.126 2,637 4 1 9.351 -5.225
ChinaConstructionBank 10 3.248 2,076 2 18 2.308 0.940
ShanghaiPudongDevelopmentBank
10 3.248 2,076 2 24 1.368 1.880
BofASecurities 12 2.240 1,431 2 - - 2.240
Citi 12 2.240 1,431 2 18 2.308 -0.068
GoldmanSachs 12 2.240 1,431 2 - - 2.240
JPMorgan 12 2.240 1,431 2 - - 2.240
ChongHingBank 16 1.887 1,206 2 12 3.675 -1.788
SamsungSecuritiesCoLtd 17 1.862 1,190 1 - - 1.862
AgriculturalBankofChina 18 1.104 706 1 22 2.191 -1.087
ChinaCindaAssetManagement 18 1.104 706 1 17 3.077 -1.973
ChinaCiticBank 18 1.104 706 1 - - 1.104
TOTAL 100% 63,919 11 100%
ThistableconsistsofloanswithborrowersthathaveacountryofriskasHongKongandwithamarketofsyndicationintheAPACregion.Thisexcludesbilateralloans.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.
Financials75%
Communications11%
Industrials6%
Utilities6%
Others3%
HongKongBorrowerLoans:BookrunnerRankingsHistory
HongKongBorrowerLoans(Bookrunner):IndustryBreakdown
75%
11%
6%
6% 3%
ChinaMerchantsBank
BankofChina
StandardCharteredBank
DBSGroup
MizuhoFinancial
BankofCommunications
Industrial&CommBankofChina
5
10
15
Marke
tSha
re(%
)
0
20
2020 2019 2018
Bloomberg HongKongCapitalMarkets|Q12020
BloombergLeagueTableReports Page10
HongKongBorrowerLoans(MandatedLeadArranger)
Q12020 Q12019
Firm RankMkt
Share(%)Volume(HKD
Mln)DealCount
PrevRank
PrevMktShare(%)
MktShareChg(%)
BankofChina 1 10.003 8,808 10 5 5.033 4.970
HSBC 2 8.273 7,285 12 1 6.978 1.295
DBSGroup 3 6.830 6,015 6 2 6.844 -0.014
Industrial&CommBankofChina 4 6.052 5,329 5 7 4.855 1.197
ChinaMerchantsBank 5 5.633 4,960 5 23 1.504 4.129
BankofCommunications 6 4.819 4,244 7 9 4.487 0.332
BofASecurities 7 4.687 4,127 4 - - 4.687
Oversea-ChineseBankingCorp 8 4.302 3,788 4 4 5.105 -0.803
ShanghaiPudongDevelopmentBank
9 3.951 3,480 5 18 2.667 1.284
StandardCharteredBank 10 3.667 3,229 4 12 3.661 0.006
MizuhoFinancial 11 3.518 3,098 3 3 5.888 -2.370
SumitomoMitsuiFinancial 12 3.130 2,756 3 6 4.899 -1.769
Scotiabank 13 3.128 2,755 2 - - 3.128
ChongHingBank 14 3.010 2,650 4 15 3.105 -0.095
ChinaConstructionBank 15 2.823 2,486 5 14 3.226 -0.403
ChinaCiticBank 16 2.192 1,930 4 35 0.294 1.898
ChinaEverbrightBank 17 2.027 1,785 3 - - 2.027
MorganStanley 18 1.962 1,728 1 - - 1.962
ChinaMinshengBankingCorp 19 1.781 1,568 2 26 1.294 0.487
SamsungSecuritiesCoLtd 20 1.351 1,190 1 - - 1.351
TOTAL 100% 88,060 20 100%
ThistableconsistsofloanswithborrowersthathaveacountryofriskasHongKongandwithamarketofsyndicationintheAPACregion.Thisexcludesbilateralloans.PleaseseeLeagueTableStandardsandGuidelinesforfurtherdetails.
Financials75%
Communications11%
Industrials6%
Utilities6%
Others3%
HongKongBorrowerLoans:MandatedLeadArrangerRankingsHistory
HongKongBorrowerLoans(MandatedLeadArranger):IndustryBreakdown
75%
11%
6%
6% 3%
BankofChina
HSBC
DBSGroup
Industrial&CommBankofChina
ChinaMerchantsBank
BankofCommunications
5
10
Marke
tSha
re(%
)
0
15
2020 2019 2018
Bloomberg – League Tables Criteria
Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service.
General Guidelines
Credit is based on the total amount of the offering sold to the public. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers; unless full, explicit breakdown of bookrunning is provided by an involved party. Regional and local tables are identifiedbased on factors such as currency, market of issuer and/or country of risk/incorporation.
Fixed Income
All transactions must have a maturity/call/put option of minimum 18 months. Make-whole call and provisional call/put are exempted from this rule. Note: Criteria may vary for some local and/or regional tables. USD denominated 144A/REG S issues are credited 100% to the 144A tranche and 0% to the REG S tranche. Non-USD denominated 144A/REG S issues are credited 100% to the REG S tranche and 0% to the 144A tranche. Self-led transactions are included. New money portions of exchange offers are eligible for credit.
Exclusions: Accredited investor tranches, asset-backed issues, auction note agencies, collateralized bond obligations, collateralized loan obligations, commercial paper, municipal bonds, mortgage-backed issues, remarketed issues, repackaged bonds, government borrowing scheme retained bonds, variable principal redemption issues, variable interest equity-linked issues, and credit linked notes, selling group agency issues, strips, units, warrants, self-led under USD 50 million. Note: Criteria may vary for some local and/or regional tables.
Equities-Linked
Equity-linked transactions: Convertible bonds, convertible preferred stock and exchangeable bonds. Only issues that mature and are callable/puttable in 12 months or longer are included. Make-whole call, provisional call and provisional put are exempted from this rule. Convertible bondswith attached warrants are included. These are defined as synthetic convertibles with the combination of a fixed income instrument and warrants which can be converted into shares. The embedded warrant can be detachable or non-detachable but the bond and the warrant must be sold as a unit, i.e. there cannot be separate book building for the warrant and the bond.
Exclusions: Redemption-linked instruments, reverse convertibles or similar instruments, synthetics convertibles, issues convertible into participation in an underlying fund or investment trust, pre-IPO convertible instruments, certain lower hierarchy titles, i.e. Jr Bookrunner.
Equities
Equity market transactions: Initial public offerings, additional offerings of common stocks, units, and depositary receipts (ADRs, GDRs, etc) and rights offerings.
Exclusions: Non-underwritten/best efforts, privately placed transactions, funds, self-led, preferred offerings, pre-negotiated offerings, certain lower hierarchy titles, i.e. Jr Bookrunner. Note: Criteria may vary for some local and/or regional tables.
Bloomberg – League Tables Criteria
Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service.
Loans
Includes executed syndicated loans transactions. Full credit is awarded to the banks satisfying the highest of the titles. Full credit is awarded to the sole bookrunning manager or split equally among joint bookrunning managers. Credit is allocated to amended or amended and restated transactions, where each modification is 100% at the lender’s option and not as a result of events already built into the original credit agreement. Credit is awarded for the following structural changes only: maturity extensions of three months or more, incremental basis for increased in deal size, reduction in pricing, full release of security.
Exclusions: Bilateral transactions, transactions with a maturity of less than three months, loans withdrawn prior to signing, amended orrestated securitizations, receivable and guarantee facilities.
US Municipals
Standard published tables will award deal credit based on true economic credit as reported by the issuer or the bookrunner. In absence ofreported economic credit, 100% will be assigned to the bookrunner.
Dollar value of credit will be assigned based on the percentage allocation reported for economic credit (or designated by the user in a custom table) and applied against the total par value of the bonds issued. Zero coupon bonds (CABS) or intermediate appreciation bonds (convertible CABs) will be included at the market value (accreted value) on the interest accrual date.
All debt issued by municipal issuers will be eligible for league credit. Taxable and tax-exempt debt is eligible for league credit unless a table includes specific tax type criteria. “Tax-exempt” is defined as federally tax-exempt and includes bonds subject to AMT and bonds designated as Bank Qualified.
Each table is provided in three formats. “Economic Credit” displays rankings based on true economic credit allocations of applicable deals. “Left Lead” assigns 100% credit to the bookrunner and 0% to all other syndicate participants. “Deal Count” displays rankings based on deal quantity rather than aggregate economic credit amounts. A “deal” refers to the aggregate series within an issuance led by a particular underwriter or syndicate. For example: a $50 million issuance is split into three series- a $10 million Series A, a $20 million Series B, and a $20 million Series C. Bank 1 is the underwriter of Series A & B, while Bank 2 is the underwriter of Series C. Bank 1 would have one “deal” worth $30 million, and Bank 2 would have one “deal” worth $20 million.
Exclusions: Derivatives, private placements, variable rate preferred securities, municipal commercial paper, and remarketings are excluded from municipal league table eligibility.
The full version of Bloomberg’s League table Standards & Guidelines can be accessed and subscribed to on the Reports tab on
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