Equity capital markets
Activity in the equity capital markets totalled $398 million through nine transactions so far this week, down from the $1.6 billion raised from 17 deals in the prior week and bringing the 2012 year-to-date volume to $135.6 billion, down from the $141.5 billion raised in 2011 year-to-date.
The biggest transaction of the week was a $268 million IPO for South Korean issuer CJ HelloVision through bookrunners Daewoo Securities, HI Investment & Securities and J.P. Morgan in what was the second-biggest IPO by a South Korean issuer so far in 2012, and the country's 10th biggest ECM deal of the year.
South Korea ECM volume stands at $7.1 billion so far this year, down 41% from the $12.1 billion recorded in the same 2011 period.
The top three banks in the league table remain unchanged with Goldman Sachs taking $10.1 billion, followed by UBS and Citi.
Debt capital markets
Three Asian borrowers have raised a total of $1.6 billion in the G3 debt capital markets so far this week and brings the total G3 issuance in the region to $121.6 billion in 2012 year-to-date, up 64% from the $73.6 billion raised in the same 2011 period and surpasses the $120 billion barrier for the first time on record.
The biggest deal of the week was a $1 billion high-yield bond from Soho China through bookrunners Standard Chartered, Goldman Sachs, Morgan Stanley, HSBC and Barclays, and represents the biggest G3 DCM deal in the real estate sector in the region so far this year.
The Soho deal pushes G3 issuance from the real estate sector to $15.9 billion so far this year, up from the $7.2 billion raised in the comparable 2011 period. Property ranks second among Asian G3 sectors, behind the finance industry with a record $47.3 billion in 2012 year-to-date, up from $29.4 billion raised in 2011 year-to-date.
HSBC leads the Asia (ex-Japan) G3 DCM bookrunner ranking with $16.1 billion, followed by J.P. Morgan and Citi with $12.2 billion and $11.8 billion, respectively.
