Equity Capital Markets
Asia (ex Japan) issuers have raised a total of $3.2 billion through 34 deals this week, down 23% from $4.1 billion raised last week via 35 deals.
The largest deal of the week is China Aerospace Times Electronics’ follow-on for $328 million via bookrunner Guotai Junan Securities.
Asia (ex Japan) ECM volume is at $34.3 billion so far this year, down 5% from $36.0 billion in the same period last year. Finance leads the volume with $5.8 billion, followed by Auto/Truck and Technology with $4.3 billion and $3.7 billion, respectively.
China International Capital Corp leads the ECM league table with $3.8 billion in 2017 YTD. CITIC Securities and Haitong Securities follow with $3.0 billion and $2.8 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | China International Capital Corp Ltd | 3,764 | 7 | 11.2 |
| 2 | CITIC Securities | 3,002 | 12 | 8.9 |
| 3 | Haitong Securities Ltd | 2,767 | 16 | 8.2 |
| 4 | Goldman Sachs | 2,592 | 5 | 7.7 |
| 5 | China Securities Co Ltd | 2,121 | 13 | 6.3 |
| 6 | Guotai Junan Securities Co Ltd | 1,798 | 10 | 5.4 |
| 7 | Huatai Securities Co Ltd | 1,474 | 4 | 4.4 |
| 8 | Bank of China | 1,379 | 7 | 4.1 |
| 9 | UBS | 1,309 | 4 | 3.9 |
| 10 | Deutsche Bank | 1,081 | 6 | 3.2 |
Debt Capital Markets
Nine Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $6.4 billion, up 6% compared to $6.0 billion issued last week via 10 deals.
The largest deal of the week is a $1.5 billion USD-denominated Non-US Agency bond by Korea Development Bank - KDB via bookrunners ANZ, Credit Suisse, Commerzbank Group, Citi, Bank of America Merrill Lynch, Credit Agricole CIB, and Korea Development Bank – KDB.
CITIC’s issuance follows with a $1.3 billion USD-denominated corporate investment grade bond through bookrunners, UBS, Deutsche Bank, HSBC, CITIC Securities, Bank of China, and China CITIC Bank Corp.
HSBC leads the G3 DCM league table in 2017 YTD with $5.0 billion, followed by JPMorgan and Citi with $4.0 billion each.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 4,977 | 30 | 9.6 |
| 2 | JPMorgan | 4,002 | 21 | 7.7 |
| 3 | Citi | 3,964 | 19 | 7.7 |
| 4 | Standard Chartered Bank | 3,243 | 21 | 6.3 |
| 5 | Deutsche Bank | 2,756 | 18 | 5.3 |
| 6 | Goldman Sachs | 2,557 | 11 | 4.9 |
| 7 | Bank of America Merrill Lynch | 2,368 | 14 | 4.6 |
| 8 | Bank of China | 2,336 | 16 | 4.5 |
| 9 | Morgan Stanley | 2,059 | 10 | 4.0 |
| 10 | UBS | 1,822 | 13 | 3.5 |
