Equity capital markets
The Asian equity markets have raised $188 million through nine transactions so far this week, down drastically from the $2.5 billion raised in the same period last week and marks the lowest weekly volume in 2013 year-to-date since the week of January 1 ($20 million through five deals).
With only a few days left until the end of July, Asia issuers have raised a total of $6.6 billion in the equity capital markets, slightly higher than the $6.3 billion raised in June but still below the monthly average of $15 billion recorded in the first five months of the year.
Sino Biopharmaceutical’s $70 million accelerated offering though Goldman Sachs was the week’s biggest deal, followed by a $56 million IPO for Rex International through bookrunner PrimePartners Corporate Finance.
The top three banks remain unchanged with Goldman Sachs topping the league table ranking with $9.9 billion in 2013 year-to-date, followed by UBS and J.P. Morgan, respectively.
Debt capital markets
Two issuers have tapped the Asian G3 debt capital markets for $997 million so far this week, almost on par with the $983 million raised in the same period last week.
The largest deal of the week was India Oil Corp’s $500 million trade through bookrunners Standard Chartered, Deutsche Bank and HSBC. The deal marks the first Indian corporate bond to price since Vedanta’s $1.7 billion trade priced in May, 2013.
Indian issuers have tapped the G3 bond markets for a total of $10.5 billion so far this year, more than triple the $3.3 billion raised in the comparable 2012 period and the highest year-to-date level on record.
HSBC continues to lead the league table ranking with $11 billion in 2013 year-to-date, followed by Deutsche Bank and Goldman Sachs.
