Equity Capital Market
The Asia ex-Japan equity capital market have raised $1.5 billion via 6 deals so far this week, down compared to the $2.2 billion raised in the same period last week and brings YTD volume to $31.6 billion, up 17% year-on-year.
The largest deal this week is a $927 million follow-on offering by TCL Corp through bookrunners Citic Securities, China Development Bank Corp, Guotai Junan Securities Co Ltd and Zhongshan Securities. The deal also stands as the fifth largest China equity market transactions so far this year.
Goldman Sachs leads the Asia ex-Japan equity capital market league table ranking with $3.3 billion, followed by UBS and Credit Suisse with $3.2 billion and $2.2 billion respectively.
Debt Capital Market
Two issuers have tapped the Asia ex-Japan G3 debt capital markets for $1.1 billion so far this week, up from the $326 million raised in the same period last week.
This week’s volume was boosted by a $900 million high-yield bond issuance from Chinese property developer Country Garden Holdings. The deal also stands as the third largest issuance in Asia-Pacific from the real estate sector in 2015 YTD.
Real estate YTD G3 bond volume fell for a second consecutive year with a total of $4.7 billion via 8 deals this year, down 49% from the $9.3 billion via 21 deals in 2014.
HSBS tops the debt capital market league table with $4.4 billion so far in 2015. Citi and Standard Chartered Bank follow in second and third place with $3.9 billion and $3.1 billion respectively.
