Equity Capital Markets
Asia (ex Japan) issuers have raised a total of $4.0bn through 33 deals this week, on par with the $4.0bn raised last week via 43 deals.
The largest deal of the week was a follow-on by Kotak Mahindra Bank Ltd for $905m via bookrunners BAML, Kotak Mahindra Bank Ltd, and Morgan Stanley.
Asia (ex Japan) Finance volume stands at $16.6bn so far this year, up 51% from the $10.9bn raised in 2016 YTD. India accounts for 14% of the total volume with $2.4bn via 11 deals so far in 2017, up significantly from $795m raised same time last year and the highest volume since 2012.
CITIC Securities climbs over China International Capital Corp Ltd to lead the ECM league table with $6.8bn and $6.7b in 2017 YTD, respectively. Goldman Sachs is third with $5.0bn.
| Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 6,812.1 | 31 | 7.62 |
| 2 | China International Capital Corp Ltd | 6,737.3 | 29 | 7.54 |
| 3 | Goldman Sachs | 4,965.9 | 17 | 5.55 |
| 4 | China Securities Co Ltd | 4,703.5 | 25 | 5.26 |
| 5 | Guotai Junan Securities Co Ltd | 4,406.3 | 29 | 4.93 |
| 6 | UBS | 3,587.7 | 16 | 4.01 |
| 7 | Haitong Securities Ltd | 3,507.5 | 30 | 3.92 |
| 8 | Citi | 2,861.8 | 22 | 3.2 |
| 9 | Huatai Securities Co Ltd | 2,684.6 | 11 | 3 |
| 10 | Morgan Stanley | 2,492.6 | 17 | 2.79 |
Debt Capital Markets
Eight Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $4.4bn via 12 deals, down 45% on the $8.0bn issued last week via 11 deals.
Industrial & Commercial Bank of China priced two deals this week, with a $700m USD-denominated bond and $552m EUR-denominated bond. Both deals were via the same bookrunners BNP Paribas, Citi, Credit Agricole CIB, Industrial & Commercial Bank of China, and Standard Chartered Bank.
This is the first time the issuer has tapped the EUR-denominated market since its $3.7bn bond priced on December 3, 2014.
HSBC leads the G3 DCM league table in 2017 YTD with $13.5bn. This is followed by Citi and Standard Chartered Bank with $11.3bn and $8.3bn, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 13,546.3 | 84 | 9.06 |
| 2 | Citi | 11,335.2 | 70 | 7.58 |
| 3 | Standard Chartered Bank | 8,295.7 | 53 | 5.55 |
| 4 | Deutsche Bank | 7,864.5 | 40 | 5.26 |
| 5 | JPMorgan | 7,579.5 | 43 | 5.07 |
| 6 | Bank of China | 6,517.3 | 52 | 4.36 |
| 7 | Bank of America Merrill Lynch | 5,408.1 | 35 | 3.62 |
| 8 | Goldman Sachs | 4,961.9 | 23 | 3.32 |
| 9 | Morgan Stanley | 4,954.1 | 30 | 3.31 |
| 10 | UBS | 4,648.1 | 34 | 3.11 |
