Equity Capital Markets
Asia (ex Japan) issuers have raised a total of $6.2bn through 26 deals this week, up 26% from the $4.9bn raised last week via 46 deals.
On Jul 10, Netlink NBN Trust completed a $1.7bn IPO via bookrunners UBS, DBS, Morgan Stanley, Bank of America Merrill Lynch, Citi, HSBC, OCBC, and United Overseas Bank. This is the largest Asia (ex Japan) ECM transaction for the week and also the second largest ECM transaction in the region so far this year, behind State Bank of India's $2.3bn follow-on completed in June.
Southeast Asia ECM volume reached $8.6bn (142 deals) so far this year, up 37% from the $6.3bn (106 deals) raised in 2016 YTD. Singapore accounts for 31% of the total volume with $2.6bn (34 deals) so far in 2017, down from $2.7bn (26 deals) raised same time last year.
CITIC Securities leads the ECM league table with $7.69bn in 2017 YTD, followed by China International Capital Corp with $7.64bn and Goldman Sachs is third with $6.4bn.
| Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 7,697.1 | 40 | 6.28 |
| 2 | China International Capital Corp Ltd | 7,641.8 | 35 | 6.24 |
| 3 | Goldman Sachs | 6,387.5 | 24 | 5.21 |
| 4 | Guotai Junan Securities Co Ltd | 5,229.3 | 36 | 4.27 |
| 5 | China Securities Co Ltd | 5,111.7 | 28 | 4.17 |
| 6 | Citi | 4,519.0 | 33 | 3.69 |
| 7 | UBS | 4,350.3 | 22 | 3.55 |
| 8 | Morgan Stanley | 4,048.3 | 23 | 3.3 |
| 9 | Haitong Securities Ltd | 4,020.5 | 39 | 3.28 |
| 10 | GF Securities Co Ltd | 3,439.3 | 41 | 2.81 |
Debt Capital Markets
Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $10.0bn via 9 deals, almost tripled from the $3.7bn issued last week via 8 deals.
On 11 Jul, Indonesia returned to the market for the third time this year with $3.1bn USD and EUR-denominated 3-tranche issue via bookrunners BNP Paribas, Citi, Deutsche Bank, and Goldman Sachs. This is the first time the Government priced a multi-currency transaction.
Indonesian International DCM recorded $12.3bn volume via 17 deals this year-to-date. This marks the highest year-to-date volume and activities, surpassing the previous record of $10.3bn via 13 deals priced in 2013.
HSBC leads the G3 DCM league table in 2017 YTD with $17.5bn. This is followed by Citi with $14.6bn and Standard Chartered Bank with $11.1bn.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 17,467.5 | 116 | 8.88 |
| 2 | Citi | 14,570.3 | 96 | 7.4 |
| 3 | Standard Chartered Bank | 11,094.3 | 77 | 5.64 |
| 4 | Deutsche Bank | 9,367.4 | 49 | 4.76 |
| 5 | JPMorgan | 9,199.2 | 59 | 4.67 |
| 6 | Bank of China | 8,826.0 | 74 | 4.48 |
| 7 | Bank of America Merrill Lynch | 7,452.5 | 50 | 3.79 |
| 8 | Goldman Sachs | 7,221.2 | 32 | 3.67 |
| 9 | UBS | 6,063.1 | 49 | 3.08 |
| 10 | BNP Paribas | 6,032.8 | 43 | 3.07 |
