Equity Capital Markets
Asia (ex Japan) issuers have raised $2.5 billion through 26 deals this week, compared with $4.1 billion raised in the same period last week.
The largest deal of the week is China’s Zhejiang Daily Media Group’s $280 million follow-on through sole bookrunner, Xinhu Holding Co Ltd.
APAC (ex Japan) Retail sector ECM volume reached $9.3bn via 50 deals in 2016 YTD, up 112% from $4.4bn via 50 deals in the same period last year and the highest YTD total on record. Follow-ons account for 88% of volume with $8.2bn via 34 deals and up 280% from 2015 YTD ($2.1bn via 24 deals.
CITIC Securities leads the ECM league table ranking with $17.6 billion in 2016 YTD. Morgan Stanley and GF Securities complete the top three with $14.4 billion and $12.3 billion, respectively.
Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD | ||||
Bookrunner | Deal Value ($m) | No. | %share | |
1 | CITIC Securities | 17,664 | 75 | 6.87 |
2 | Morgan Stanley | 14,491 | 51 | 5.63 |
3 | GF Securities Co Ltd | 12,335 | 55 | 4.79 |
4 | Deutsche Bank | 9,991 | 49 | 3.88 |
5 | China Securities Co Ltd | 9,634 | 53 | 3.74 |
6 | Huatai Securities Co Ltd | 9,613 | 35 | 3.74 |
7 | China International Capital Corp Ltd | 9,367 | 42 | 3.64 |
8 | Haitong Securities Ltd | 9,282 | 63 | 3.61 |
9 | Guotai Junan Securities Co Ltd | 9,035 | 67 | 3.51 |
10 | Guosen Securities Co Ltd | 8,845 | 35 | 3.44 |
Debt Capital Markets
Four Asian issuers have tapped the G3 debt capital markets for a total of $614 million, just under half of the $1.3 billion raised via six deals in the same period last week.
The largest deal of the week is a $285 million high yield bond by China’s CIFI Holdings (Group) Co Ltd through a consortium of 4 bookrunners.
Chinese real estate companies dominate Asia (ex Japan) G3 volume this week, with total issuing of $585 million via 3 deals, accounting for over 95% of weekly volume.
HSBC leads the G3 bond league table in Asia (ex Japan) with $22.4 billion in 2016 YTD. Citi and Bank of America Merrill Lynch follow with $16.0 billion and $14.5 billion, respectively.
Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD | ||||
Bookrunner | Deal Value ($m) | No. | %share | |
1 | HSBC | 22,465 | 152 | 9.91 |
2 | Citi | 16,059 | 104 | 7.08 |
3 | Bank of America Merrill Lynch | 14,576 | 83 | 6.43 |
4 | Standard Chartered Bank | 11,806 | 84 | 5.21 |
5 | JPMorgan | 11,484 | 74 | 5.06 |
6 | Bank of China | 10,522 | 79 | 4.64 |
7 | BNP Paribas | 7,928 | 53 | 3.5 |
8 | UBS | 7,271 | 67 | 3.21 |
9 | Deutsche Bank | 7,189 | 44 | 3.17 |
10 | Goldman Sachs | 6,807 | 35 | 3 |