China’s Haitong to Ramp Up Asia Deals as Competition Rises
- Brokerage looks to do more non-China Asian offerings: Chen
- Haitong sees up to 20% drop in China HY bond issuance in 2021
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A top arranger for Chinese junk dollar bonds is looking elsewhere for growth opportunities, as rising competition reduces fees and heightened regulatory scrutiny weighs on the nation’s borrowers.
Haitong International Securities Group Ltd. is trying to win over more sovereign and high-yield borrowers in Asia under China’s Belt and Road umbrella, said Chen Yi, head of global capital markets, in an interview. The firm has a 7.9% share of Chinese high-yield dollar bonds issued this year, ranking it No. 1, according to data compiled by Bloomberg.