Equity capital markets
The Asian equity markets have raised a total of $2.3 billion so far this week through 25 deals, compared to the $4.9 billion raised during the same period last week.
Southeast Asian issuers led issuance with nine deals priced this week for a combined total of $1.1 billion, down slightly compared to the $1.7 billion raised last week. The biggest deal of the week was from Cosco Capital, a Philippines issuer, with a $397 million follow-on through bookrunners Deutsche Bank and J.P. Morgan.
The deal brings Philippines ECM volume to a record $3.3 billion from 14 deals in 2013 year-to-date, more than double the $1.5 billion raised during the comparable 2012 period.
Goldman Sachs continues to lead the league table ranking with $8.9 billion, followed by UBS and J.P. Morgan.
Debt capital markets
Korea Development Bank was the only issuer to tap the Asian G3 debt capital markets this week for $295 million through bookrunners Mizuho, Morgan Stanley, Citi and Bank of America Merrill Lynch and marks the quietest week in the G3 debt capital markets since the week of April 1 ($150 million through one deal).
South Korean issuers have tapped the G3 debt capital markets for a total of $8.6 billion so far this year, down 32% compared to the $12.7 billion raised in 2012 year-to-date. The fall in volume comes despite record issuance in Asia (ex Japan) region with $92.1 billion in 2013 year-to-date, up 27% year-on-year.
HSBC leads the league table ranking with $10.6 billion in 2013 year-to-date, followed by Goldman Sachs and Citi, respectively.