The equity capital markets had a bumper week on the back of China Merchants BankÆs follow-on with $3.5 billion raised from 17 issues and pushing year-to-date volume over the $68 billion mark. Goldman Sachs and UBS continue to sit in first and second place while JPMorgan ousted Citigroup from third place in the league table rankings.
China International Capital Corp, JPMorgan and UBS ran the books for China Merchants BankÆs $2.4 billion fully marketed deal. JPMorgan also led a $31 million accelerated bookbuild for SingaporeÆs Ascott Residence Trust.
Deutsche Bank climbed up a notch to sixth place in the rankings with $3.5 billion from 31 issues. The German house ran the books for Ayala CorpÆs $210 million bought deal on a sole basis.
A handful of deals are scheduled to price next week, including Shui On LandÆs $834 million IPO bookrun by Deutsche Bank, HSBC and JPMorgan; and Raffleasia CapitalÆs $450 million convertible led by CIMB, HSBC and UBS.
Debt Capital Markets
The debt capital markets held steady this week with $546 million raised from two trades. Morgan Stanley sits at the top of the league tables with $3.5 billion from 11 deals, leading Deutsche Bank by a margin of $345 million.
JPMorgan, Deutsche Bank and UBS printed a $506 million trade for Korea Highway Corp, the largest deal for the week. JPMorgan nudged Citigroup from fourth place while UBS continues to sit in sixth position.
