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Equity capital markets
Activity in the equity capital markets have totalled $5 billion through 19 issues so far this week, almost triple the $1.7 billion raised in the same period last week.
The largest deal of the week was Temasek Holdings’ $1 billion selldown in Singapore Telecommunications through an accelerated offering (which includes both accelerated bookbuilds and bought deals) with bookrunners Citi and Morgan Stanley in what is the largest ECM transaction in Singapore so far this year. This deal helps push Singapore ECM volume to $3.9 billion, up 15% year-on-year and marks the highest year-to-date volume since 2009 ($7.9 billion).
Cairn Energy also sold a $929 million block in Cairn India through an accelerated offering handled by bookrunner Citi, in what was third-biggest Indian ECM deal so far this year.
Another notable transaction of the week was a $500 million equity-linked deal for Hong Kong Exchanges & Clearing through bookrunners Deutsche Bank, HSBC and UBS, which brings equity-linked volume in September so far to $1.9 billion, the highest monthly volume since August 2011 ($2.1 billion)
Goldman Sachs leads the league table ranking with $10 billion in 2012 year-to-date, followed closely by UBS and Citi.
Debt capital markets
Six issuers tapped the Asian G3 debt capital markets this week for $3.5 billion, almost on par with the $3.4 billion raised during the previous week.
The biggest deal of the week was a $1 billion trade for Hyundai Capital America through bookrunner Citi, J.P. Morgan and Morgan Stanley.
South Korean issuers have tapped the G3 DCM markets for a total of $23 billion so far this year, up 21% year-on-year and marking the highest year-to-date level on record.
The top three banks in the league table remain unchanged with HSBC taking $14.3 billion, followed by J.P. Morgan and Citi.
