Equity Capital Markets
The equity markets saw a flurry of activity this week, not least the long awaited deal for Link Reit, which pushed total issuance for the year so far through the $80 billion mark. Just over $2.8 billion was raised this week from 17 issues, with Goldman Sachs clinching first place in the league table rankings, followed by UBS and Morgan Stanley.
Link Real Estate Investment Trust's $2.5 billion IPO accounts for 89% of the total volume this week and was bookrun by Goldman Sachs, HSBC and UBS. The deal enabled Goldman Sachs to secure the top ranking in the league tables with $7.8 billion from 32 issues and UBS to climb two spots to second place with $7.5 billion from 34 deals.
BNP Paribas ran the books on a sole basis for a couple of issues although the French bank sits outside the top 10. China's Parkson Retail Group raised $209 million via an IPO as did Shenzhen International Group Holdings with $101 million. DBS, HSBC and ECM Libra Securities are scheduled to price a $500 million IPO for Malaysia's Starhill Real Estate Investment Trust next week.
Debt Capital Markets
The debt capital markets were kept afloat this week with a single $1 billion trade that bumped total volume for the year to date over the $40 billion barrier. Citigroup continues to sit at the head of the league table with $5.4 billion from 25 trades, while Deutsche Bank and JPMorgan round out the top three.
Citigroup, Credit Suisse First Boston and Lehman Brothers printed the $1 billion trade for Singapore's Avago Technologies Finance. Credit Suisse First Boston is currently in fifth place with $3.7 billion, while Lehman Brothers sits outside the top 10.
A number of deals are scheduled to price shortly and may see league table rankings shift. These include Bank of East Asia's $400 million trade via Citigroup and Goldman Sachs; Adaro Indonesia's $300 million deal via Goldman Sachs and JPMorgan; and Kookmin Bank's $300 million trade through bookrunners Banc of America Securities Asia, Barclays and Goldman Sachs.
To view the latest Dealogic league tables click here.
