In the first half of 2024, a total of 418 new Chinese dollar bonds were issued, totaling US$92.393 billion. Compared with the same period last year, both the total number of Chinese dollar bonds issued and the total issuance scale have achieved significant growth. Among them, a total of 293 Chinese-funded US dollar financial bonds will be issued in the first half of 2024, totaling US$36.766 billion, and a total of 25 Chinese-funded US dollar green bonds will be issued in the first half of 2024, totaling US$9.585 billion.
Looking ahead to the second half of 2024, the Fed is widely expected to cut interest rates at least once. Although there is still uncertainty about the pace and magnitude of interest rate cuts, the market generally believes that the issuance cost of US dollar bonds is expected to fall, which will have a certain positive impact on the issuance scale.
How are the institutions performing in the underwriting of Chinese dollar bonds? Wind's ranking of Chinese dollar bonds in the first half of 2024 will be announced for you.
Total Underwriting Rankings
01 Ranking of Chinese dollar bond underwriting scale
In the first half of 2024, HSBC underwrote 94 bonds with a total underwriting amount of US$6.44 billion, ranking first, Bank of China underwrote 70 bonds with a total underwriting amount of US$2.41 billion, ranking second, and Deutsche Bank underwrote 15 bonds with a total underwriting amount of US$1.83 billion, ranking third.
02 Ranking of the number of Chinese dollar bond underwriting projects
In terms of the number of underwritten projects, HSBC underwrote a total of 94 Chinese-funded US dollar bonds in the first half of 2024, ranking first; China Securities underwrote a total of 93, ranking second; CITIC Securities underwrote a total of 79 stocks, ranking third.
03 Ranking of Chinese US dollar bond underwriting institutions
In terms of the distribution of its headquarters and branches, HSBC ranked first with a total underwriting amount of US$6.44 billion, CICC International ranked second with a total underwriting amount of US$1.65 billion, and Guotai Junan International ranked third with a total underwriting amount of US$1.60 billion.
04 Ranking of underwriting scale of Chinese US dollar bond banks
In terms of banks, HSBC topped the list of bank underwriting, with a total of 94 bonds underwritten with a total underwriting amount of US$6.44 billion in the first half of 2024, Bank of China underwrote 70 bonds with a total underwriting amount of US$2.41 billion, ranking second, and Deutsche Bank underwrote 15 bonds with a total underwriting amount of US$1.83 billion, ranking third.
05 Ranking of underwriting scale of Chinese US dollar bond firms
In terms of brokerages, CICC International topped the underwriting list with 73 bonds with a total underwriting amount of US$1.65 billion in the first half of 2024, Guotai Junan International underwrote 63 bonds with a total underwriting amount of US$1.60 billion, ranking second, and CSCI underwrote 93 bonds with a total underwriting amount of US$1.04 billion, ranking third.
Segment the underwriting scale ranking
06 Ranking of the underwriting scale of Chinese-funded US dollar financial bonds
HSBC topped the list of Chinese dollar financial bond underwriters, with a total of 80 bonds underwritten with a total underwriting amount of US$5.53 billion in the first half of 2024, Bank of China underwrote 44 bonds with a total underwriting amount of US$1.23 billion, ranking second, and CITIGROUP underwrote 19 bonds with a total underwriting amount of US$1.07 billion, ranking third.
07 Ranking of the underwriting scale of Chinese-funded US dollar green bonds
In the first half of 2024, Guotai Junan topped the list of Chinese dollar green bonds, with 13 bonds underwritten with a total underwriting amount of US$540 million, China CITIC Bank underwrote 18 bonds with a total underwriting amount of US$330 million, ranking second, and ICBC underwrote 9 green bonds with a total underwriting amount of US$320 million, ranking third.
Caliber Description:
1. Statistical caliber: The list includes US dollar-denominated bonds issued by Chinese issuers (including issuers in Hong Kong, Macao and Taiwan) or their overseas subsidiaries in overseas offshore markets.
2. Bond type: This list only includes fixed income and floating-rate US dollar bonds, and convertible bonds are not included in this ranking.
3. Time span: Based on the bond pricing date, the range is from January 1, 2024 to June 30, 2024.
4. Data source: The data used in this list are all from public market information. If there is no public market information, the underwriting agency needs to provide supporting documents.
5. Ranking: The participating institutions of the underwriting ranking are the JGC, JLM, JBR registered at the time of bond issuance, and are classified and ranked in the general list and the three sub-dimensions of real estate, urban investment and finance.
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