Equity Capital Markets
A total of $1.6 billion has been raised in the Asian equity capital markets through 16 deals so far this week, down on the $2.4 billion raised in the same period last week.
Huadian Power International’s $1.1 billion follow-on was the largest deal of the week through bookrunners CITIC Securities, UBS and Chuancai Securities.
The deal is also the second biggest ECM transaction from the Utility & Energy sector in 2015 YTD.
Asia (ex Japan) Utility & Energy sector ECM volume has reached a record $9.1 billion so far this year, up 41% year-on-year.
CITIC Securities leads the league table ranking with $14.7 billion. UBS and Goldman Sachs follow with $13.8 billion and $12.7 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 14,694 | 50 | 7.5 |
| 2 | UBS | 13,834 | 47 | 7.1 |
| 3 | Goldman Sachs | 12,736 | 37 | 6.5 |
| 4 | Morgan Stanley | 8,290 | 47 | 4.2 |
| 5 | Credit Suisse | 7,295 | 41 | 3.7 |
| 6 | Guotai Junan Securities | 7,270 | 35 | 3.7 |
| 7 | JP Morgan | 6,643 | 31 | 3.4 |
| 8 | Haitong Securities | 5,946 | 53 | 3.0 |
| 9 | China Merchants Securities | 5,468 | 32 | 2.8 |
| 10 | Deutsche Bank | 5,394 | 21 | 2.8 |
Debt Capital Markets
Four Asia (ex Japan) issuers have tapped the G3 bond market for a total of $2.4 billion so far this week, up from just $504 million through three issues in the same period last week.
The largest deal this week is a $1.0 billion trade for Avi Funding, an SPV for Export-Import Bank of China through bookrunners JP Morgan, HSBC, ANZ, ING, Barclays, Bank of Communications, Mitsubishi UFJ Financial Group, Bank of China and Westpac and brings regional SSA issuance to $36.3 billion in 2015 YTD, the highest YTD level on record and up 4% year-on-year.
HSBC continues to top the league table ranking with $15.7 billion in 2015 YTD while Citi and JPMorgan follow with $13.5 billion and $10.9 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 15,712 | 99 | 10.5 |
| 2 | Citi | 13,503 | 75 | 9.1 |
| 3 | JP Morgan | 10,945 | 57 | 7.3 |
| 4 | Deutsche Bank | 9,194 | 62 | 6.2 |
| 5 | Bank of America Merrill Lynch | 8,878 | 59 | 6.0 |
| 6 | Standard Chartered Bank | 8,564 | 50 | 5.8 |
| 7 | Goldman Sachs | 6,616 | 28 | 4.4 |
| 8 | Morgan Stanley | 6,259 | 35 | 4.2 |
| 9 | Bank of China | 5,116 | 39 | 3.4 |
| 10 | DBS | 4,709 | 31 | 3.2 |
