Equity Capital Markets
The Asian equity markets have raised $1.3 billion via 13 deals so far this week, compared to the $3.7 billion raised in the same period last week.
The largest deal of the week is Cheung Kong Infrastructure’s $599 million follow-on through bookrunners Deutsche Bank, JP Morgan and Morgan Stanley. The deal is also the largest ECM transaction in the region so far this year.
The issuer last came to the market in July 2012 when Cheung Kong Infrastructure Holdings raised $297m via a follow-on through bookrunners Bank of China and HSBC.
UBS leads the Asia ex Japan equity capital market league table ranking with $1.1 billion. Followed by Haitong Securities and Goldman Sachs.
| Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | UBS | 1,100 | 7 | 15.7 |
| 2 | Haitong Securities | 477 | 5 | 6.8 |
| 3 | Goldman Sachs | 359 | 4 | 5.1 |
| 4 | CICC | 336 | 2 | 4.8 |
| 5 | Morgan Stanley | 335 | 4 | 4.8 |
| 6 | Deutsche Bank | 302 | 3 | 4.3 |
| 7 | China Galaxy Financial | 301 | 2 | 4.3 |
| 8 | Industrial Securities | 300 | 3 | 4.3 |
| 9 | Bank of China | 294 | 2 | 4.2 |
| 10 | Kingston Financial Group | 259 | 6 | 3.7 |
Debt Capital Markets
Five issuers have already tapped the Asian G3 debt capital markets for $3.8 billion so far this week, down from the $8 billion raised in the same period last week.
The largest deal of the week is a $1.2 billion dual-tranche trade for State Grid of Europe Development (2014) through bookrunners Deutsche Bank, Morgan Stanley, HSBC, ANZ, RBS, Barclays and Bank of China.
Another notable transaction to complete this week is a $1 billion bond for Reliance Industries through bookrunners Standard Chartered, JP Morgan, Deutsche Bank, Morgan Stanley, BNP Paribas, HSBC, ANZ, RBS, Barclays, Citi, Bank of America Merrill Lynch and Credit Agricole. The deal is the biggest Indian G3 bond since ABJA Investment raised $1.5 billion in July 2014.
Citi tops the debt capital markets league table ranking with $3.1 billion in 2015 YTD. HSBC and Standard Chartered follow in second and third place, respectively.
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