China deals and investment banks of the year 2016

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Asiamoney and GlobalCapital Asia award the best banks and transactions in China, on and offshore.

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Last year was a watershed for Chinese investment banking, with firms from the mainland capturing a bigger share of business from across Asia as their international peers struggled to compete. In many cases, global banks were forced to rethink their business strategies in the region, including substantial jobs cuts. 

The shift was recognized across the industry as Chinese banks combined their balance sheets, strong onshore relationships and growing sophistication to work on the region’s juiciest deals. 

The standout deals reflect the internationalization of Chinese capital markets as cross-border activity picks up and assets classes such as green bonds and securitization become more widely accepted. 

The result is that bankers continue to push the boundaries of what is possible in Chinese capital markets. Landmarks in 2016 included the first green covered bond and Asia’s first mandatory exchangeable security, which was also the biggest equity-linked transaction globally since 2010. Meanwhile, the surge in cross-border M&A provided plenty of opportunity for lenders to fund acquisitions.

Mainland banks are no longer confining themselves to their natural hunting ground of Greater China. With plans to expand operations into the rest of Asia, Europe and the United States, 2017 promises to be just as exciting. For more on these awards, visit globalcapital.com/asia.

Awards in association with GlobalCapital Asia


Best IPO Best follow-on/ABB  
     onshore     offshore     onshore     offshore
Best equity-linked deal
Best bond  
     onshore     offshore
     onshore     offshore
Best Structured Finance Transaction
Best Syndicated Loan 
     offshore     offshore
Best Leveraged Financing 
Best Equity House
     offshore     onshore     offshore
Best Bond House
Best Investment Bank      
     onshore     offshore
     onshore     offshore


Award winners


Best IPO – onshore

Shanghai Film Co Rmb10.2 billion IPO

Sole bookrunner: CICC

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Best IPO – offshore

Zhou Hei Ya International Holdings HK$2.87 billion IPO

Joint global coordinators: 

Credit Suisse and Morgan Stanley

Joint bookrunner: China Merchant Securities

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Best follow-on/ABB – onshore

China Shipbuilding Industry Group Power Co Rmb13.48 billion private placement

Financial adviser: Citic Securities

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Best follow-on/ABB – offshore

PICC Property & Casualty Co HK$9.68 billion accelerated bookbuild

Joint global coordinators: Goldman Sachs and Morgan Stanley

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Best equity-linked deal – onshore

Guangzhou Automobile Group Co Rmb4.10 billion six-year convertible bond

Joint bookrunners: CICC, Credit Suisse, Citic Securities, Goldman Sachs and Guangzhou Securities

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Best equity-linked deal – offshore

SoftBank Group Corp $6.6 billion mandatory exchangeable trust securities, due 2019

Joint bookrunners: Deutsche Bank and Morgan Stanley

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Best bond – onshore

Iowa China Offshore Holdings (Hong Kong) Rmb1.5 billion dual-tranche panda bond

Sole bookrunner: CICC

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Best bond – offshore

Bank of China (London) $500 million three-year green covered bond

Joint global coordinators: Bank of China, Citi and HSBC

Joint bookrunners: Barclays, Bank of America Merrill Lynch, China Construction Bank, Crédit Agricole, Société Générale and Standard Chartered

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Best Structured Finance Transaction – offshore

Blu Zenith Designated Activity Co $300m aircraft loan securitization

Joint bookrunners: CICC, HSBC, Jefferies and Standard Chartered

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Best Syndicated Loan – offshore

CNAC Century (HK) Co $12.7bn term loan and revolving credit

Mandated lead arrangers and bookrunners: BNP Paribas, China Citic Bank, Crédit Agricole, Credit Suisse, Industrial Bank, Natixis, Shanghai Pudond Development Bank and Unicredit

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Best Leveraged Financing – offshore

Tencent $3.5bn term loan and revolver due 2021

MLABs: ANZ, Bank of America Merrill Lynch, Bank of China, China Merchants Bank, Deutsche Bank, HSBC and Shanghai Pudong Development Bank

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Best Equity House – onshore

Citic Securities

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Best Equity House – offshore

Haitong International Securities

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Best Bond House – onshore

HSBC

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Best Bond House – offshore

BOC International

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Best Investment Bank – onshore

Citic Securities

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Best Investment Bank – offshore

CICC

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