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Leading the field in Asia

Euromoney's tables were compiled using data from Capital Data Bondware and Capital Data Loanware for the period January 1 to October 31 1997. The regions covered in the rankings were north Asia, south-east Asia, the Indian subcontinent and Australasia. However, Australian and New Zealand dollar transactions were excluded from the table of Asian currency bonds. Both public and private issues, where available, were included in the tables and were correct at the time of going to press.

December 1, 1997

Only the best will survive

Asia 100 1997: Waiting for the impact

Asian 100

Japanese Top 50

ASEAN 25

Australasia top 25

Indian Sub-Continent Top 25

North Asia 25

Methodology and Definitions

Arrangers of Asian Loans
Rank Bank Amount $m No of issues Share %
1 HSBC Group 5,451.55 61 5.43
2 Citicorp 4,279.66 66 4.26
3 ABN Amro Hoare Govett 3,349.30 81 3.34
4 Bank of America 3,239.84 65 3.23
5 Chase Manhattan Bank 3,182.09 50 3.17
6 Sumitomo Bank 2,833.96 114 2.82
7 Sakura Bank 2,707.24 95 2.7
8 Bank of Tokyo-Mitsubishi 2,580.23 67 2.57
9 Sanwa Bank 2,417.34 101 2.41
10 Fuji Bank 2,387.12 92 2.38
11 Credit Suisse First Boston 2,125.21 17 2.12
12 Banque Nationale de Paris 1,925.94 54 1.92
13 Dai-Ichi Kangyo Bank 1,904.78 76 1.9
14 Union Bank of Switzerland 1,795.25 15 1.79
15 Industrial Bank of Japan 1,738.94 56 1.73
16 Development Bank of Singapore 1,728.61 47 1.72
17 Société Générale 1,723.47 60 1.72
18 Deutsche Morgan Grenfell 1,696.88 38 1.69
19 WestLB 1,670.65 42 1.66
20 JP Morgan 1,617.65 14 1.61
21 Citic Pacific 1,613.46 1 1.61
22 Standard Chartered Bank 1,521.64 35 1.52
23 Korea Development Bank 1,471.59 85 1.47
24 Crédit Lyonnais 1,348.62 51 1.34
25 ING Barings 1,303.59 35 1.3
Total of loans used in the table 100,399.20 834 100
Arrangers of Asian FRCDs
Rank Bank Amount $m No of issues Share %
1 HSBC Group 2,897.63 32 22.22
2 China Development Finance 1,425.54 4 10.9
3 Standard Chartered Bank 730.21 13 5.6
4 Schroders 515.46 11 3.95
5 Bank of Tokyo-Mitsubishi 427.08 10 3.28
6 Chase Manhattan Bank 402.58 8 3.09
7 Société Générale 396.09 15 3.04
8 Westpac Banking Corp 345.74 10 2.65
9 Fuji Bank 343.26 11 2.63
10 Sakura Bank 336.37 13 2.58
11 WestLB 332.13 16 2.55
12 Development Bank of Singapore 329 10 2.52
13 Jardine Fleming 314.02 9 2.41
14 Bayerische Landesbank 271.12 12 2.08
15 Bank of America 241.21 6 1.85
16 Dai-Ichi Kangyo Bank 238.38 12 1.83
17 ING Barings 234.35 4 1.8
18 Commonwealth Bank of Australia 210.42 6 1.61
19 ABN Amro Hoare Govett 208.33 5 1.6
20 Dresdner Bank 200 6 1.53
21 Deutsche Morgan Grenfell 192.06 3 1.47
22 JP Morgan 175.7 5 1.35
23 Merrill Lynch 174.14 3 1.34
24 LTCB 153.75 6 1.18
25 Union Bank of Switzerland 109.76 3 0.84
Total of FRCDs used in the table 13,038.76 136 100
Bookrunners of International Asian FRNs
Rank Bank Amount $m No of issues Share %
1 JP Morgan 1,423.28 6 6.7
2 SBC Warburg Dillon Read 1,384.81 7 6.6
3 Merrill Lynch 1,309.14 11 6.24
4 Peregrine Capital 1,305.77 9 6.22
5 Sanwa Bank 1,269.29 7 6.05
6 HSBC Group 1,193.07 5 5.69
7 Deutsche Morgan Grenfell 1,130.00 9 5.39
8 Morgan Stanley Dean Witter 1,062.93 8 5.07
9 ING Barings 845 5 4.03
10 Union Bank of Switzerland 800.31 6 3.81
11 BZW 755.37 6 3.6
12 Chase Manhattan Bank 690 6 3.29
13 Citicorp Group 645 9 3.07
14 Standard Chartered Bank 595 3 2.84
15 Australia&New Zealand Banking 20 3 2.48
16 Dresdner Kleinwort Benson 499.69 4 2.38
17 Société Générale 364.83 5 1.74
18 ABN Amro Hoare Govett 341.14 5 1.63
19 Credit Suisse First Boston 338 3 1.61
20 Sumitomo Bank 300 3 1.43
21 Goldman Sachs 300 1 1.43
22 DG Bank 297.07 1 1.42
23 Bank of America 267 4 1.27
24 Bank Austria 258.26 1 1.23
25 DBS Bank 210 2 1
Total of issues used in the table 20,982.92 152 100
Bookrunners of International Asian Fixed-Rate Bonds
Rank Bank Amount $m No of issues Share %
1 Merrill Lynch 2,834.45 16 13.22
2 Goldman Sachs 2,100.00 7 9.79
3 Lehman Brothers 1,957.40 6 9.13
4 Morgan Stanley Dean Witter 1,938.00 9 9.04
5 Nomura Securities 1,848.72 13 8.62
6 JP Morgan 1,300.00 6 6.06
7 Credit Suisse First Boston 1,276.56 8 5.95
8 SBC Warburg Dillon Read 932.47 5 4.35
9 Nikko Securities 824.57 11 3.85
10 HSBC Group 816.49 9 3.81
11 Hambros Bank 800.74 9 3.73
12 Salomon Brothers 664.04 3 3.1
13 Daiwa Securities 516.24 2 2.41
14 Toronto-Dominion Bank 488.88 6 2.28
15 Chase Manhattan Bank 420.77 3 1.96
16 ING Barings 300 2 1.4
17 Commonwealth Bank of Australia 287.57 5 1.34
18 Deutsche Morgan Grenfell 285.78 3 1.33
19 Union Bank of Switzerland 237.75 3 1.11
20 Long-Term Credit Bank of Japan 228.38 5 1.07
21 DG Bank 175.89 1 0.82
22 Bayerische Landesbank Girozentrale 174.53 1 0.81
23 BZW 163.16 1 0.76
24 Peregrine Capital 125 1 0.58
25 Commerzbank 111.69 1 0.52
Total of issues used in the table 21,442.88 131 100
Bookrunners of International Asian Fixed and Floating-Rate Bonds
Rank Bank Amount $m No of issues Share %
1 Merrill Lynch 4,143.59 27 9.76
2 Morgan Stanley Dean Witter 3,000.93 17 7.07
3 JP Morgan 2,723.28 12 6.42
4 Goldman Sachs 2,400.00 8 5.66
5 SBC Warburg Dillon Read 2,317.28 12 5.46
6 Lehman Brothers 2,057.40 7 4.85
7 HSBC Group 2,009.55 14 4.74
8 Nomura Securities 1,966.85 15 4.63
9 Credit Suisse First Boston 1,614.56 11 3.8
10 Peregrine Capital 1,430.77 10 3.37
11 Deutsche Morgan Grenfell 1,415.78 12 3.34
12 Sanwa Bank 1,295.18 8 3.05
13 ING Barings 1,145.00 7 2.7
14 Chase Manhattan 1,110.77 9 2.62
15 Union Bank of Switzerland 1,038.06 9 2.45
16 BZW 918.53 7 2.16
17 Salomon Brothers 841.64 4 1.98
18 Nikko Securities 824.57 11 1.94
19 Hambros Bank 800.74 9 1.89
20 Daiwa Securities 709.59 5 1.67
21 Citicorp Group 680.06 10 1.6
22 Australia&New Zealand Banking 595 4 1.4
23 Standard Chartered Bank 595 3 1.4
24 Dresdner Kleinwort Benson 499.69 4 1.18
25 Toronto-Dominion Bank 488.88 6 1.15
Total of issues used in the table 42,435.68 284 100
Issuers of International Asian Fixed and Floating-Rate Bonds
Rank Bank Amount $m No of issues Share %
1 Korea Development Bank 3,149.39 9 7.42
2 Hutchison Whampoa 2,000.00 4 4.71
3 Asia Pulp&Paper 1,988.00 6 4.6
4 Export-Import Bank of Korea 1,729.35 4 4.08
5 Westpac Banking Corp 1,629.13 5 3.84
6 Korea Electric Power 1,325.17 8 3.12
7 National Australia Bank 1,297.95 8 3.06
8 Mardon Underwriting 1,028.68 2 2.42
9 New Zealand 926.8 5 2.18
10 St George Bank 918.62 2 2.16
11 People¹s Republic of China 787.72 3 1.86
12 Industrial Finance Corp of Thailand 767.29 5 1.81
13 New South Wales Treasury 716.98 8 1.69
14 Puma Finance 700 3 1.65
15 Swire Pacific 687.22 3 1.62
16 Hopewell Holdings 600 2 1.41
17 Bank of China 535 3 1.26
18 Coca-Cola Amatil 500 2 1.18
18 Philippine Long Distance Telephone 500 2 1.18
20 Bangko Sentral ng Pilipinas 500 1 1.18
21 Commonwealth Bank of Australia 466.36 8 1.1
22 State Bank of New South Wales 455.62 5 1.07
23 Suncorp-Metway Bank 450 2 1.06
24 Malaysian Airline System 433.54 2 1.02
25 Australia&New Zealand Banking 409.79 3 0.97
Total of issues used in the table 42,435.68 284 100
Bookrunners of Asian Currency Bonds
Rank Bank Amount $m No of issues Share %
1 HSBC Group 1,078.12 10 38.12
2 Bank Austria 258.26 1 9.1
3 Citicorp Group 242.14 2 8.56
4 Grand Cathay Securities 216.33 1 7.65
5 Société Générale 200.25 3 7.08
6 SBC Warburg Dillon Read 181.64 1 6.42
7 Deutsche Morgan Grenfell 151.96 1 5.37
8 Merrill Lynch 123.31 2 4.36
9 ING Barings 113.93 1 4.03
10 Long-Term Credit Bank of Japan 113.06 4 4
11 Commonwealth Bank of Australia 83.93 2 2.97
12 Bank of Tokyo-Mitsubishi 38.78 1 1.37
13 Daewoo Securities 26.32 1 0.93
Total of issues used in the table 2,828.03 28 100
Issuers of Asian Samurai Bonds
Rank Bank Amount $m No of issues Share %
1 New South Wales Treasury 742.5 3 20.57
2 Petroliam Nasional (Petronas) 642.45 6 17.8
3 Western Australia Treasury 477.7 2 13.23
4 Korea Development Bank 252.36 1 6.99
5 Petroleum Authority of Thailand 189.75 1 5.26
6 Cheju Province 174.43 1 4.83
7 Peregrine Investment Holdings 173.36 2 4.8
8 Export-Import Bank of Korea 170.85 1 4.73
9 Dharmala Intiutama 130.78 1 3.62
10 Hainan Int’l Trust&Investment 115.5 1 3.2
11 Mosel Vitelic 107.27 1 2.97
12 Kyonggi Province 90.75 1 2.51
13 Korea Airport Construction Authority 86.68 1 2.4
Total of issues used in the table 3,610.21 26 100
Bookrunners of International Asian Equity-Linked Bonds
Rank Bank Amount $m No of issues Share %
1 Robert Fleming/Jardine Fleming 1,392.77 9 16.7
2 Goldman Sachs 1,030.00 5 12.41
3 Morgan Stanley Dean Witter 808.33 6 9.7
4 ABN Amro Hoare Govett 773 6 9.31
5 Union Bank of Switzerland 689.5 7 8.31
6 Bankers Trust 457 6 5.5
7 JP Morgan 433.33 3 5.22
8 Deutsche Morgan Grenfell 430 2 5.18
9 Credit Suisse First Boston 388.99 5 4.69
10 Merrill Lynch 338.33 3 4.08
11 BZW 288 3 3.47
12 SBC Warburg Dillon Read 275 2 3.31
13 HSBC Group 250 3 3.01
14 ING Barings 242.5 3 2.92
15 LG Securities 127 5 1.53
16 Peregrine Capital 115 1 1.39
17 Banque Paribas 100 1 1.2
18 Nomura Securities 75 1 0.9
19 Daiwa Securities 30 1 0.36
20 Daewoo Securities 27.5 1 0.33
21 Nikko Securities 17.5 1 0.21
22 Korea Development Bank 12.5 1 0.15
Total of issues used in the table 8,301.26 62 100
Bookrunners and Co-ordinators of International Asian Equities
Rank Bank Amount $m No of issues Share %
1 Goldman Sachs 2,642.00 5 13.83
2 Robert Fleming/Jardine Fleming 2,224.32 23 11.65
3 Peregrine Capital 1,464.68 20 7.67
4 ING Barings 1,396.52 9 7.31
5 Morgan Stanley Dean Witter 1,276.63 5 6.68
6 ABN Amro Hoare Govett 1,248.99 17 6.54
7 China International Capital 1,118.47 1 5.86
8 Merrill Lynch 979.39 10 5.13
9 BZW 973.87 5 5.1
10 Union Bank of Switzerland 955.67 3 5
11 HSBC Group 862.74 5 4.52
12 Nomura Securities 609.48 4 3.19
13 JB Were&Son 584.78 1 3.06
14 Crédit Lyonnais 311.14 4 1.63
15 SBC Warburg Dillon Read 263.35 3 1.38
16 Crédit Agricole Indosuez 263.15 3 1.38
17 Salomon Brothers 252.64 2 1.32
18 JP Morgan 210.82 2 1.1
19 Dresdner Kleinwort Benson 175.52 1 0.92
20 Rashid Hussain Securities 141.19 1 0.74
21 Lehman Brothers 132.9 2 0.7
22 Tai Fook Securities 131.77 1 0.69
Total of issues used in the table 19,099.71 121 100
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