Equity Capital Markets
Equity capital markets issuance spiked to $5.8 billion from 14 deals this week following two transactions above $1 billion in size. UBS now leads the league table ranking by a large margin on $4.3 billion, followed by J.P. Morgan and Goldman Sachs on $3 billion and $2.8 billion respectively.
The largest issue of the week was China Merchants Bank's $3.2 billion rights offer, which was led by Bank of America Merrill Lynch, BNP Paribas, China International Capital Corp (CICC), Goldman Sachs, J.P. Morgan and UBS. Goldman Sachs climbed into the top three from seventh place last week, having also led Yingde Gases Group's $145 million accelerated bookbuild on a sole basis; while CICC jumped a couple of notches to sit in the fourth rung on $2.7 billion.
Woori Finance Holdings' $1 billion bought deal was run by Credit Suisse, Daewoo Securities, Samsung Securities and UBS. Credit Suisse moved up a place in the rankings to take the ninth spot with $1.6 billion.
Deals scheduled to price next week include rights issues for Adani Enterprises ($375 million) via bookrunners Enam Financial Consultants, ICICI Bank and IDFC; Wanxiang Qianchao ($272 million) led by Shenyin & Wanguo Securities; and Videocon Industries ($242 million) via India Infoline and SBI Capital Markets.
Debt Capital Markets
The debt capital markets saw a single trade this week -- MagnaChip Semiconductor Corp's $250 million bond via Barclays Capital, Deutsche Bank, Goldman Sachs and Morgan Stanley. Goldman Sachs moved into the top 10 to take eighth place with $842 million on the back of this deal.
The top three rankings remain unchanged with Deutsche Bank, Barclays Capital and HSBC leading the field on $2.6 billion, $2.2 billion and $2 billion respectively.
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