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Equity capital markets
Activity in the equity capital markets have reached $2.5 billion through 25 transactions, down 34% on the $3.8 billion raised in the same period last week.
The biggest transaction of the week was a $616 million block trade in Hyundai Motor through sole bookrunner Citi in what was the biggest South Korean ECM deal so far this year.
This pushes South Korea ECM volume to $4.8 billion in 2012 year-to-date, down 54% from the $10.4 billion raised during the same 2011 period, and marks the lowest year-to-date level since 2008 ($3.5 billion).
Ascendas Hospitality Business Trust also completed a $325 million IPO through bookrunners Nomura, Standard Chartered, HSBC and DBS, which was the second-biggest deal to price this week and brings Southeast Asian ECM volume to $15.4 billion so far this year, up from the $13.2 billion completed during the same period in 2011, marking the highest year-to-date level on record.
Sichaun Hebang Corp is slated to complete its IPO next week for an estimated $280 million.
Goldman Sachs continues to lead the league table ranking with $6.7 billion, followed by UBS and Citi.
Debt capital markets
Five Asian borrowers have raised $4 billion in the G3 debt capital markets so far this week, up from the $1.3 billion raised last week through four trades and marks the busiest level since the week of May 7 ($4.7 billion).
The biggest deal of the week was a $1.7 billion trade for Temasek through bookrunners Citi, Deutsche Bank, Goldman Sachs and UBS. The deal also helps push Citi up two notches to third place in the league table ranking.
Southeast Asian issuers have tapped the G3 market for a total of $30.9 billion in 2012 year-to-date, up 63% on the $18.9 billion raised in the comparable 2011 period, and this marks the highest year-to-date level on record.
The top three banks in the league table remain unchanged with HSBC taking $11.6 billion, followed by J.P. Morgan and Citi.
