Equity capital markets
Activity in the equity capital markets totalled $2.3 billion through 17 transactions during the past week, down from the $7.4 billion raised in the week prior.
The biggest deal of the week was Evergrande Real Estate’s 561 million top-up placement through bookrunners Bank of America Merrill Lynch, Deutsche Bank and Bank of China. The deal was also the fifth-biggest Asia (ex-Japan) ECM transaction so far this year.
Another notable deal to price this week was Shanghai Industrial’s $503 million equity-linked issue through bookrunners Bank of America Merrill Lynch, Deutsche Bank and Bank of China. It is the fourth-biggest equity-linked deal globally so far this year and was also the biggest equity-linked deal to complete in the region since Shandong Nanshan Aluminium’s $954 million deal completed in October 2012.
An estimated $390 million is expected to be raised for Chinalco Mining Corp International’s IPO, which is slated to complete next week.
Credit Suisse leads the equity capital markets league table for 2013 year-to-date with $1.7 billion, followed by Goldman Sachs and UBS, respectively.
Debt capital markets
Nine Asian borrowers raised $6.2 billion in the G3 debt capital markets during the past week, up slightly on the $6 billion raised during the same period the previous week, and brings year-to-date volume to $13.4 billion, up 12% year-on-year and already at a record year-to-date level in 2013.
Three issuers tapped the market this week for $1 billion each — they were Asian Development Bank, Korea Development Bank and Thai Oil.
Thai Oil’s $1 billion trade through bookrunners Standard Chartered, HSBC and Barclays marked the sixth-biggest G3 bond for Thailand on record.
HSBC topped the league table with $2.1 billion in 2013, UBS and Standard Chartered follow in second and third place, respectively.
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