Equity Capital Markets
Asia (ex Japan) issuers have raised a total of $4.3 billion through 29 deals this week, up 88% from the $2.3 billion raised last week via 37 deals.
The largest deal of the week is a private placement by Power Construction Corp of China for $1.7 billion via bookrunners China Securities, CITIC Securities, Guotai Junan Securities, and China International Capital Corp.
This deal is the seventh largest ECM deal in Asia (ex Japan) so far this year, and the largest ECM deal since China’s CRRC Corp’s follow-on for $1.8 billion on January 19, 2017.
China International Capital Corp leads the ECM league table with $6.5 billion in 2017 YTD. CITIC Securities and China Securities follow with $6.2 billion and $4.1 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | China International Capital Corp Ltd | 6,515 | 25 | 9.3 |
| 2 | CITIC Securities | 6,201 | 26 | 8.9 |
| 3 | China Securities Co Ltd | 4,077 | 22 | 5.8 |
| 4 | Goldman Sachs | 4,001 | 11 | 5.7 |
| 5 | Guotai Junan Securities Co Ltd | 3,953 | 22 | 5.6 |
| 6 | Haitong Securities Ltd | 3,260 | 27 | 4.7 |
| 7 | UBS | 2,939 | 11 | 4.2 |
| 8 | Huatai Securities Co Ltd | 2,685 | 11 | 3.8 |
| 9 | Citi | 2,028 | 18 | 2.9 |
| 10 | Bank of China | 1,811 | 12 | 2.6 |
Debt Capital Markets
11 Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $7.2 billion, slightly down from the $7.6 billion issued last week via 16 deals.
The largest deal of the week is a $3.4 billion USD-denominated investment grade corporate bond by Huarong Finance 2017, a financial vehicle of China Huarong Asset Management, via a consortium of 17 bookrunners.
This is followed by another issuance over $1.0 billion, a USD-denominated investment grade corporate bond by Industrial & Commercial Bank of China (Singapore), a subsidiary of Industrial & Commercial Bank of China – ICBC, for $2.0 billion via a consortium of 11 bookrunners.
HSBC leads the G3 DCM league table in 2017 YTD with $9.9 billion. This is followed by Citi and Standard Chartered Bank with $7.5 billion each.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 9,918 | 68 | 8.2 |
| 2 | Citi | 7,468 | 53 | 6.2 |
| 3 | Standard Chartered Bank | 7,461 | 46 | 6.2 |
| 4 | JPMorgan | 6,614 | 38 | 5.5 |
| 5 | Bank of China | 5,776 | 46 | 4.8 |
| 6 | Deutsche Bank | 5,009 | 34 | 4.1 |
| 7 | Morgan Stanley | 4,497 | 28 | 3.7 |
| 8 | Bank of America Merrill Lynch | 4,451 | 32 | 3.7 |
| 9 | Goldman Sachs | 4,135 | 18 | 3.4 |
| 10 | Credit Suisse | 3,289 | 25 | 2.7 |
