Equity capital markets
Activity in the equity capital markets totalled $2 billion through 12 transactions this week, down 40% on the $3.3 billion raised during the same period last week.
The biggest transaction of the week was the $741 million sale of shares by Maxis Communications through bookrunners CIMB and Credit Suisse. The deal marks the fourth-biggest ECM transaction in Southeast Asia and brings all secondary accelerated offerings (including accelerated bookbuilds and bought deals) in the region to $3.5 billion from 23 transactions so far this year, up from the $1.3 billion from 10 deals completed during the same period last year and marks the highest year-to-date level on record.
Chueng Kong Infrastructure Holdings’ $297 million follow-on through bookrunners Bank of China and HSBC was the second-biggest deal of the week, followed by Sichaun Hebang Corp’s $278 million IPO through Huaxi Securities.
Goldman Sachs continues to lead the league table ranking with $6.8 billion, followed by UBS and Citi.
Debt capital markets
Six Asian borrowers have raised $2.5 billion in the G3 debt capital markets so far this week, down from the $4.2 billion raised last week
The biggest deal of the week was a $1.2 billion corporate investment grade bond for State Bank of India through bookrunners Barclays, Citi, Deutsche Bank, J.P.Morgan, Bank of America Merrill Lynch and UBS, in what was the largest G3 bond by an Indian issuer.
Indian issuers have tapped the G3 bond market for $3.3 billion so far this year, down 59% on the $8 billion raised during the same 2011 period.
The top three banks in the league table remain unchanged with HSBC taking $11.8 billion, followed by J.P. Morgan and Citi.
