Equity Capital Markets
A total of 27 ECM transactions have been completed this week raising a combined total of $3.3 billion so far this week, slightly lower than the $5.0 billion raised in the same period last week and brings total issuance in the region to $179.3 billion, up 64% year-on-year.
China Railway Construction Corp’s $1.6 billion follow-on through bookrunners CICC and CITIC Securities is the largest deal this week and is the second biggest Asia (ex Japan) ECM deal in the Construction sector so far this year.
With six days left till the end of the month, July ECM issuance by Asia (ex Japan) issuers has reached $13.5 billion via 119 transactions, the lowest monthly volume since October 2014 ($12.5 billion) and also down compared to $23.9 billion raised via 165 deals in July last year.
CITIC Securities leads the league table ranking with $13.3 billion in 2015 YTD, with UBS trailing closely behind with $13.27 billion and Goldman Sachs rounding off the top three with $12.6 billion.
Debt Capital Markets
Seven issuers have tapped the G3 debt capital markets this week for a total of $6.6 billion, up on the $2.9 billion raised through two deals last week and has pushed volumes to a YTD record of $135.1 billion in 2015, up 9% year-on-year.
The largest deal of the week is Bank of Communications’ $2.5 billion preferred share through bookunners JPMorgan, Goldman Sachs, Deutsche Bank, HSBC, CCB, Bank of Communications, CITIC Securities and Citi. The deal is also the fourth biggest G3 FIG deal in Asia (ex Japan) so far this year.
FIG issuers have tapped the Asia (ex Japan) G3 bond markets for $36.9 billion in 2015 YTD, the highest YTD total on record and up 38% year-on-year.
HSBC continues to top the league table rankings with $15.1 billion in 2015 YTD while Citi and JPMorgan follow with $12.8 billion and $9.5 billion, respectively.
