Deutsche Bank China fully licenced as foreign lead underwriter in the China interbank bond market

Deutsche Bank China fully licenced as foreign lead underwriter in the China interbank bond market

(PRESS RELEASE) FRANKFURT AM MAIN, 3-Sep-2019 — /EuropaWire/ — Deutsche Bank has announced it has received the Type-A Lead Underwriting Licence (Foreign Banks) by the China’s National Association of Financial Market Institutional Investors (NAFMII). This type of license is the most comprehensive for a foreign bank to underwrite in the bond market and permits bond underwriting for domestic corporate onshore issuance. It allows the bank to deal with Debt Financing Instruments by Non-Financial Enterprises in the China Interbank Bond Market and is as well applicable for underwriting debt issuance by both local and foreign corporates (Panda bonds). It covers all debt instruments such as Medium Term Notes, Commercial Paper, Private Placement and Asset Backed Notes.

Deutsche Bank is in fact only one of the two foreign banks operating in China to receive approval for the Type-A Lead Underwriting Licence (Foreign Banks), which is the most comprehensive underwriting licence to be granted to a foreign bank. In China, Deutsche Bank already holds a licence as Lead Underwriter for sovereign, quasi-sovereign and financial issuers. The bond market in China has already reached the staggering CNY 93.2 trillion, which is the equivalent of €11.8 trillion as of 2 Sep 2019.

Commenting on the approval, Deutsche Bank Chief Executive Officer Asia Pacific and Member of the Management Board, Mr. Werner Steinmueller, said:

“Deutsche Bank has been an enduring partner for China’s economic and financial development since 1872, enabling investment and trade flows between Europe and China for over a century. Today, we actively support China’s capital market development, from internationalisation of the RMB to foreign investor access to the onshore bond market, where we are one of the most active foreign banks. Receiving NAFMII’s approval for this Type-A Lead Underwriting Licence is testament to the strength of our onshore capabilities and our ability to connect China with the rest of the world by structuring and distributing China solutions across our global platform.”

Rose Zhu, President of Deutsche Bank (China) Co., Ltd., added further:

“Deutsche Bank is proud to become a fully licenced foreign lead underwriter in the China interbank bond market. As a global bank with house strength in financing, debt markets and fixed income, we welcome the opportunity to widen our service offering to onshore clients through this new licence.”

Commenting on the Deutsche Bank’s leadership in the region, Haitham Ghattas, APAC Head of Capital Markets at Deutsche Bank, said:

“China is a key focus of our capital markets franchise in the region. Being granted a Type A licence recognises Deutsche Bank’s leadership in the debt markets and our commitment to this business.”

SOURCE: Deutsche Bank AG