Equity Capital Markets
Despite over $1.5 billion being raised from some 35 offerings last week, the league table positions remained largely unaffected. Goldman Sachs, Merrill Lynch and Citigroup maintained their top three spots. UBS leapfrogged over Groupe Credit Agricole/Lazard into fourth after running the books on a $200 million convertible for Siliconware Precision Industries Co.
Other movement saw JP Morgan move up into sixth after working on the $121.5 million convertible deal for Wistron Corp. Morgan Stanley remains outside the top 10 even though the US house completed the largest IPO of the year last week - the $193 million offering for Shanghai Forte.
Debt Capital Markets
UBS, Citigroup and Barclays cashed in on the largest deal of the year so far, the $1 billion issue for Export Import Bank of Korea. This pushed the three bookrunners into the top three positions on the G3 league table.
This was the only trade to be completed last week - although Woori Bank was set to price its $400 million transaction late on Friday. Although activity has sporadic so far this year, there are plenty of deals in the pipeline. These include a host of Korean banks, as well as Pakistan, which are all set to price in the near future.
