Equity Capital Markets
The equity capital markets raised a total of $1.6 billion this week from 18 issues, bumping year-to-date volume above the $25 billion mark -- which is up 163% year-on-year.
Haitong Securities continues to top the league table ranking on $2.4 billion, followed by UBS with $1.9 billion and Bank of China on $1.8 billion.
The largest deal of the week was Rural Electrification Corp's $755 million fully-marketed issue led by Bank of America Merrill Lynch, ICICI Bank, JM Financial, Kotak Mahindra Finance and RBS. Kotak Mahindra Finance moved up a notch in the ranking to sit in sixth place with $905 million, having also run the books for Mahindra Forgings' $38 million accelerated bookbuild together with Anand Rathi Securities.
UBS slipped into second place from third last week on the back of a $69 million bought deal for Lenovo Group, which the Swiss house ran on a sole basis.
Deals scheduled to price next week include Malaysian Airline System's $888 million rights offer via bookrunners CIMB Group, Maybank Investment Bank and RHB Capital; and a $222 million rights issue for Wing On Travel (Holdings) led by Emperor Securities.
Debt Capital Markets
Debt capital markets volume recorded an up-tick this week, with $1 billion raised from two trades. The top three league table standings remain unchanged with Deutsche Bank, Barclays Capital and Citi leading the field on $1.9 billion, $1.7 billion and $1.4 billion respectively.
Republic of the Philippines' $1.0 billion sovereign bond was the biggest trade of the week and led by Daiwa Capital Markets, Mitsubishi UFJ Financial Group and Nomura. The deal enabled Nomura to move into the top 10 to sit in tenth place with $455 million.
The other deal of the week was Hongkong & Shanghai Banking Corp's $547 million medium-term note. It was led by HSBC, which remains in fourth place in the rankings.
