IFR Magazine – January 20, 2018

EMERGING MARKETS ASIA-PACIFIC

Pricing steps NIP (bp) Book size Ratings Bookrunners Distribution

• 
  
  
  
  • 
    
    
    
    • Aa3/AA-/AA- StChTaiwan/CA-CIB -
    
    
    
    
  
  
  
  

6.25% area,

6% (+/-5)

• US$1.45bn Ba1 CCBI/CEB Intl/ICBCA/Guotai Junan/
  DBS/Miz/Natx/GF Sec/CMBCHK/
  Founder Sec/Central Wealth

Asia 98%, Eur 2%. Bks 43%, FM/Ins

41%, PB/Other 16%.

4.85% area - - - DBS/HLBank/HSBC/OCBC/StCh -

3mL+90 +/-3,

3mL+87

• US$892m A2/A CA/HSBC Taiwan 79%, HK 11%, SG 6%, Other 4%.
  Bks 61%, Securities 22%, FM 16%, PB/
  Other 1%.
  5.875% area - US$650m B1/B+ Guotai Junan/HSBC/StCh/ABCI/
  Citi/CitiC-CLSA/CS/DB/GF Sec/GS/
  Haitong

Asia 90%, Eur 10%. FM/Securities 50%,

PB 31%, Bks 19%.

T+185 area - US$9.1bn Baa2 Citi/UBS/BNPP Asia 80%, EMEA 20%. FM 72%, Ins/SWF

13%, Bks 12%, PB/Other 3%.

8.50% - US$400m -/BB- Huatai/DBS/BOCOMI/VTB/Miz/

Cinda Intl

Asia 97%, Eur 3%. FM 52%, PB 40%, Bks

6%, Corp/Other 2%.

8.125% area - US$1.1bn B1/-/B+ Citi/BNPP/CIMB Asia 90%, EMEA 10%. FM 89%, PB 7%,

Bks 3%, Other 1%.

8.25% area - - -/BB-/BB- BAML/BOCI/EverbrightHK -

4.375% area,

4.125% (+/-12.5),

3.95%

-20 >US$1bn, >100 acs Ba1/BBB-/BB+ GCs BAML/Citi/JPM/Sber/VTB, JBs

RBI/RenCap/SG/UBS/Uni

US 41%, UK 23%, Eur 19%, Switz 9%,

Russia 7%, Asia/ME 1%. AM 83%, Bks/

PB 10%, Other 7%.

Low/mid 6%s,

6% (+/-5bp),

5.95%

Ba3/-/BB BAML/Itau/MS/BB/Santan -

6.25% area,

6.125% (+/-12.5),

6%

• 
  

  
  

  US$500m -/-/BB- ABC/Citi/ICBCStandard/StCh -

  
  

  
  

MS+95 area,

MS+80 (+/-3)

• 
  

  
  

  €1.4bn A1 GCs BNPP/CA, JBs ICBC/HSBC/
  StCh/ABCHK

  
  

  
  

EMEA 60%, Asia 40%. FM 47%, Bks

41%, Ins/PF/OI 10%, PB/Other 2%.

Low 8% area,

8% (+/-12.5)

25 >US$9bn -/B-/B CS/DB/JPM -

5.8% area,

5.6% area,

5.6%

12 - Ba2/BB-/BB Citi/HSBC/MS -

T+215 area - US$1.8bn -/-/BBB CCBI/CMBC/Guotai Junan/SG/

ICBCI/SPDBI

Asia 90%, Eur 10%. Bks 49%, FM 36%,

HF/PB/Securities 10%, Ins 5%.

High 7% area - - -/B-/B UBS/Guotai Junan/HSBC/AMTD/

BAML/CMSHK/DBS/GF Sec/Haitong

4.875% area,

4.5% (+/-5)

• US$1.4bn -/BB-/- ANZ/BAML/Barc/BNPP/Citi/CA-CIB/
  DBS/DB/1ADB/HSBC/ING/JPM/MS/
  SG/SMBCNikko/StCh

Asia 53%, EMEA 43%, Offshore US 4%.

FM/AM 41%, Bks 35%, Corp/Ins 10%,

Sov 8%, Other 6%.

5.875% area,

5.5% (+/-5)

• US$3.3bn -/BB-/- ANZ/BAML/Barc/BNPP/Citi/CA-CIB/
  DBS/DB/1ADB/HSBC/ING/JPM/MS/
  SG/SMBCNikko/StCh

EMEA 56%, Asia 42%, Offshore US 2%.

FM 58%, Bks 26%, Corp/Ins 6%, Other

10%.

5.05% area,

4.7% (+/-5)

• US$2.2bn Unrated BoC/DBS/Barc/Founder Sec HK 64%, SG 28%, Eur/Other 8%. FM/
  AM 62%, Bks 20%, PB 15%, Ins/Other
  3%.
  5.65% area,
  5.35%/5.4%


• US$3.2bn Unrated BoC/DBS/Barc/Founder Sec HK 55%, SG 30%, Eur/Other 15%. FM/
  AM 60%, Bks 23%, PB 15%, Ins/Other
  2%.
  3.30% area,
  3%/3.05%


• 
  
  
  
  • Baa2/BBB/BBB Citi/CS/DB/MS/StCh/UBS -
  
  
  
  

T+150 area - US$800m -/BBB-/- Barc/BNPP/DB/UBS Eur 54%, Asia 46%. AM/FM 41%, Ins/

Pens/SWF 27%, Bks 20%, PB 12%.

T+160 area,

T+135-140

• US$1.1bn -/A-/A BoCom/BOCOMI/ABCHK/BNPP/
  CICC/HSBC/MUFG/WBC

Asia 90%, Eur 10%. FM 65%, Bks 29%,

Corp/Ins/SWF 5%, PB 1%.

T+165 area,

T+145 +/-2.5

• US$3bn -/A-/A BoCom/BOCOMI/ABCHK/BNPP/
  CICC/HSBC/MUFG/WBC

Asia 90%, Eur 10%. FM 65%, Bks 29%,

Corp/Ins/SWF 5%, PB 1%.

T+175 area,

T+150/155

• US$575m -/A-/A BoCom/BOCOMI/ABCHK/BNPP/
  CICC/HSBC/MUFG/WBC

Asia 94%, Eur 6%. FM 52%, Bks 35%,

Ins 8%, Corp 4%, PB 1%.

5.75% area - - - Haitong/Orient/Fortune Sec/Victory

Sec

7.5% area - US$1.7bn Ba3/-/BB- CitiC-CLSA/Mandiri Asia 98%, Eur 2%. FM/Securities firms

97%, Bks/PB 2%, SWF 1%.

100.05 - - -/B/B Cicc/Orient/Huatai -

6.25% area,

6.125% area,

6%

• 
  
  
  
  • B1/-/B GS/JPM/Citi/SG/VTB -
  
  
  
  

Pricing steps NIP (bp) Book size Ratings Bookrunners Distribution