Equity capital markets
Activity in the equity capital markets has reached $597 million through 10 transactions, down dramatically from the $2.2 billion raised through 17 deals during the same period last week and marks the lowest level of activity and deal count since the week of January 22 ($310 million through one deal). This brings year-to-date volume to $90 million, down 23% from the $116.8 billion raised in 2011 so far this year.
The biggest deal of the week was a $288 million follow-on for Henan Shenhuo Coal Industry & Electricity Power through bookrunners Central China Securities Holdings. Hainan Shuangcheck Pharmaceuticals’ $95 million IPO through bookrunner Haitong Securities was the second-largest deal of the week.
Goldman Sachs continues to lead the league table ranking with $6.8 billion, followed by UBS and Citi.
Debt capital markets
Three Asian borrowers have raised $1.4 billion in the G3 debt capital markets so far this week, down from the $2.5bn raised in the same period last week and brings total issuance to $89.2 billion in 2012 YTD, up 35% year-on-year to mark the highest year-to-date level on record.
The biggest deal of the week was a $500 million trade for Export-Import Bank of India through bookrunners Citi and Standard Chartered. Korea Finance Corp also tapped the market for $500 million this week and Shui On Development Holding raised $400 million.
The top three banks in the league table remain unchanged with HSBC taking $11.9 billion, followed by J.P. Morgan and Citi.
