Equity Capital Markets
Asia (ex Japan) issuers have raised a total of $2.4bn through 22 deals this week, down 61% from the $6.2bn raised last week via 32 deals.
The largest Asia (ex Japan) ECM transaction this week was a $1.04bn IPO by Guangzhou Rural Commercial Bank Co Ltd via eight bookrunners China International Capital Corp, China Merchant Securities, Agricultural Bank of China, China Construction Bank, AMTD Group, Bank of China, China Merchant Bank, and GF Securities.
China International Capital Corp Ltd leads the ECM league table with $7.14bn, followed by CITIC Securities with $7.08bn and Goldman Sachs is third with $5.53bn.
| Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | China International Capital Corp Ltd | 7,142.6 | 32 | 6.87 |
| 2 | CITIC Securities | 7,084.4 | 35 | 6.82 |
| 3 | Goldman Sachs | 5,532.9 | 19 | 5.32 |
| 4 | China Securities Co Ltd | 4,866.6 | 27 | 4.68 |
| 5 | Guotai Junan Securities Co Ltd | 4,408.0 | 29 | 4.24 |
| 6 | UBS | 3,906.3 | 18 | 3.76 |
| 7 | Haitong Securities Ltd | 3,636.4 | 33 | 3.5 |
| 8 | Morgan Stanley | 3,622.5 | 21 | 3.49 |
| 9 | Citi | 3,223.3 | 24 | 3.1 |
| 10 | GF Securities Co Ltd | 3,043.6 | 35 | 2.93 |
Debt Capital Markets
Eight Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $3.0bn via, down 32% from the $4.4bn issued last week via 11 deals.
On 14 Jun 2017, China Three Gorges Corp completed a $728m EUR-denominated Green bond via bookrunner Bank of China, China Construction Bank, Deutsche Bank, Industrial & Commercial Bank of China, JPMorgan, Natixis, Standard Chartered Bank, and UBS. This is the second time issuer tapped the EUR market and the first time to issue Green bond in international market. The issuer have completed $901m CNY-denominated Green bond in Aug 2016.
Asia ex Japan International High-Yield bond recorded $23.5bn volume via 67 deals this year-to-date. This mark the highest year-to-date figure on record surpassing the previous record set in 2013 ($22.0bn via 58 deals).
HSBC leads the G3 DCM league table in 2017 YTD with $15.24bn. This is followed by Citi with $13bn and Standard Chartered Bank with $9.80bn.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 15,244.8 | 98 | 8.99 |
| 2 | Citi | 12,928.6 | 86 | 7.62 |
| 3 | Standard Chartered Bank | 9,804.3 | 65 | 5.78 |
| 4 | Deutsche Bank | 8,230.5 | 44 | 4.85 |
| 5 | JPMorgan | 8,226.0 | 51 | 4.85 |
| 6 | Bank of China | 7,696.0 | 63 | 4.54 |
| 7 | Bank of America Merrill Lynch | 6,697.0 | 42 | 3.95 |
| 8 | UBS | 5,498.7 | 42 | 3.24 |
| 9 | Goldman Sachs | 5,476.7 | 25 | 3.23 |
| 10 | Morgan Stanley | 5,216.5 | 33 | 3.08 |
