Equity Capital Markets
Few deals were completed this week, with the markets gearing up for the holiday season. Just seven transactions were priced - well below the average of 21 per week.
Only two of the offerings were in excess of $100 million, a $149 million follow on for Jih Sun Financial through Industrial Bank of Taiwan and a $140 million deal run by DBS Bank. Neither transaction had any impact on the top ten, with DBS Bank down in 17th and Industrial Bank of Taiwan sitting outside the top 20.
This leaves Goldman Sachs heading the equity capital markets table, over $1 billion ahead of Morgan Stanley in second. UBS, Merrill Lynch and JP Morgan round out the top five houses.
There are few deals in the pipeline although Great Eagle Holdings will price a placement next week. ABN Amro is running the books.
Debt Capital Markets
After bumper issuance last week, the debt capital markets slumped this week. No deals were completed, although the $750 million 10 year trade for Export-Import Bank of China is due to be priced late this evening in New York.
The bookrunners on this transaction are leaders Citigroup and second placed Deutsche Bank along with HSBC and Goldman Sachs.
This will have little effect in the top five, but will push Goldman Sachs up to eighth with $832 million from four deals.
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