Equity Capital Markets
Asia (ex Japan) issuers have raised $4.0 billion through 28 deals this week, more than double the $1.7 billion raised last week via 29 deals.
The largest deal of the week is China’s Elion Clean Energy A-share private placement for $654 million via bookrunners Huaxi Securities and Chinalin Securities. This deal is the 10th largest ECM deal in the region so far this year and the second largest deal in February after HKT Trust / HKT’s $1.1 billion block trade priced last week via Goldman Sachs.
China International Capital Corp leads the ECM league table with $3.6 billion in 2017 YTD. CITIC Securities and Haitong Securities follow with $2.9 billion and $2.7 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | China International Capital Corp Ltd | 3,572 | 6 | 11.6 |
| 2 | CITIC Securities | 2,885 | 10 | 9.3 |
| 3 | Haitong Securities Ltd | 2,722 | 15 | 8.8 |
| 4 | Goldman Sachs | 2,592 | 5 | 8.4 |
| 5 | China Securities Co Ltd | 2,103 | 12 | 6.8 |
| 6 | Guotai Junan Securities Co Ltd | 1,758 | 9 | 5.7 |
| 7 | Huatai Securities Co Ltd | 1,474 | 4 | 4.8 |
| 8 | Bank of China | 1,378 | 7 | 4.5 |
| 9 | UBS | 1,309 | 4 | 4.2 |
| 10 | Deutsche Bank | 926 | 4 | 3.0 |
Debt Capital Markets
Seven Asian (ex Japan) issuers have tapped the G3 debt capital markets for a total of $5.7 billion, down 34% compared to $8.5 billion issued last week via 11 deals.
The largest deal of the week is a $2.0 billion USD-denominated corporate investment grade bond by Industrial & Commercial Bank of China (Hong Kong) via a consortium of nine bookrunners.
Despite the slowdown in volume this week, Asia G3 volume for 2017 YTD has more than doubled to $45.0 billion from $20.6 billion in the same period last year, marking the highest YTD volume on record. Volume is led by Finance sector with $25.5 billion, followed by Real Estate with $5.2 billion.
HSBC leads the G3 DCM league table in 2017 YTD with $4.2 billion, followed by JPMorgan and Citi with $4.0 billion and $3.6 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 4,230 | 26 | 9.4 |
| 2 | JPMorgan | 3,982 | 20 | 8.9 |
| 3 | Citi | 3,591 | 17 | 8.0 |
| 4 | Standard Chartered Bank | 2,709 | 18 | 6.0 |
| 5 | Goldman Sachs | 2,474 | 10 | 5.5 |
| 6 | Deutsche Bank | 2,300 | 15 | 5.1 |
| 7 | Bank of America Merrill Lynch | 2,128 | 12 | 4.7 |
| 8 | Bank of China | 2,015 | 13 | 4.5 |
| 9 | Morgan Stanley | 1,991 | 8 | 4.4 |
| 10 | UBS | 1,339 | 10 | 3.0 |
