Equity Capital Markets
A total of $4.2 billion was raised from the equity capital markets this week, split on 26 issues. Goldman Sachs maintains its place at the top of the league table rankings with $1.9 billion, followed by Deutsche Bank and Morgan Stanley on $1.2 billion and $959 million respectively.
The largest deal of the week was Avago Technologies’ $694 million bought deal, which was led by Deutsche Bank and Barclays Capital. The German house moved up a notch in the league table, having also led a $500 million convertible bond for Essar Energy together with J.P. Morgan and Standard Chartered Bank.
Morgan Stanley climbed into the top three on the back of a $328 million equity-linked issue for BTS Group Holdings that the US bank rank on a sole basis; and a $169 million accelerated bookbuild for Zhongsheng Group Holdings.
Deals scheduled to price next week include a $747 million follow-on offering for Tata Steel via bookrunners Citi, Deutsche Bank, HSBC, Kotak Mahindra Bank, Royal Bank of Scotland, State Bank of India and Standard Chartered Bank; and Garuda Indonesian Airways’ $500 million IPO led by Bahana Securities, Bank Mandiri, Citi, Danareksa and UBS.
Debt Capital Markets
Issuance in the debt capital markets totalled $1.4 billion from four deals this week. Deutsche Bank continues to top the league table rankings with $683 million, followed by UBS on $422 million. Standard Chartered Bank and RBS are in equal third place with $245 million apiece.
Rural Electrification Corp issued the biggest deal of the week, raising $500 million via bookrunners Standard Chartered Bank, RBS and Credit Agricole CIB. Standard Chartered and RBS moved into third place in the league tables on the back of this deal.
Daiwa Capital Markets and Citi also printed a $424 million trade for KT Corp, and sit in equal fifth place in the rankings.
