Equity Capital Markets
The first week of March saw a total of $2.5 billion raised from the equity capital markets, bringing year-to-date volume to $28.2 billion from 247 issues -- almost three times the amount raised in the same period last year.
Haitong Securities continues to top the league table ranking on $2.4 billion, with UBS narrowing the gap on $2.1 billion and Bank of China rounding out the top three at $2.0 billion.
The largest issue of the week was Vedanta Resources' $805 million convertible via bookrunners Goldman Sachs, J.P. Morgan, Morgan Stanley and UBS. J.P. Morgan moved up a notch in the ranking to seventh place with $927 million on the back of this deal.
Goldman Sachs scaled the league table to secure the sixth spot from 19th last week, having also run the books for Ctrip.com International's $236 million accelerated bookbuild on a sole basis; and a $230 million convertible for Pacific Basin Shipping together with joint bookrunner HSBC.
Deals schedule to price next week include National Mineral Development Corp's (NMDC) $3 billion follow-on offering via bookrunners Citi, Edelweiss Capital, Kotak Mahindra Finance, Morgan Stanley, RBS and UBS; and Korea Life Insurance's $1.8 billion IPO led by Credit Suisse, Daewoo Securities, Deutsche Bank, J.P. Morgan, Tong Yang Securities and Woori Finance Holdings.
Debt Capital Markets
The debt capital markets raised in excess of $1 billion for the second week in a row, with two trades totalling $1.02 billion. Barclays Capital, Deutsche Bank and HSBC take out the top three places in the league table rankings on $1.8 billion, $1.5 billion and $1.4 billion respectively.
Export-Import Bank of Korea's $1 billion bond was the largest deal of the week and led by Deutsche Bank, HSBC, J.P. Morgan, RBS and UBS. The deal enabled Deutsche Bank and HSBC to each move up a notch in the league table, and J.P. Morgan to secure the eighth spot from 13th place last week.
