Equity capital markets
Activity in the Asian equity markets reached $5.1 billion through 21 deals during the past week, the busiest weekly level since February 4 ($7.2 billion through 28 deals) and more than triple the $1.3 billion raised during the same period during the previous week.
Volume was pushed by China Minsheng Banking’s $3.2 billion equity-linked deal through bookrunners Haitong Securties and UBS. It is the third-biggest global ECM transaction so far this year and the fourth-largest equity-linked transaction in Asia ex-Japan on record. Haitong Securities has jumped to fifth place on the back of its work on the deal, up from 16th place.
Goldman Sachs continues to lead the league table ranking with $7 billion, followed by UBS and J.P. Morgan.
Debt capital markets
Two issuers tapped the G3 debt capital markets during the past week for a total of $799 million, down markedly from the $4.8 billion raised last week.
IDBI Bank’s $499 million trade through bookrunners HSBC and Standard Chartered was the biggest deal of the week and brings India GDCM volume to $4.5 billion this year, more than double the $2 billion raised during the comparable 2012 period and the highest year-to-date level on record.
The other deal to complete this week was a $300 million trade for Filinvest Development through bookrunners UBS and HSBC in what is the largest G3 trade in the Philippines so far this year.
The top three banks remain unchanged with HSBC topping the league table ranking with $6.1 billion in 2013 year-to-date, followed by Standard Chartered and Citi, respectively.
