Equity Capital Markets
Asia (ex Japan) issuers have raised $2.2 billion through 28 deals in the equity capital markets so far this week, down from $6.3 billion (40 deals) raised last week.
The largest deal priced this week is Kunlun Energy’s convertible bond via joint bookrunners Goldman Sachs and CICC, for a total of $501 million, on July 13 on the Hong Kong Stock Exchange.
Asia (ex Japan) Utility & Energy ECM issuance stands at $8.9 billion (24 deals) in 2016 YTD, up from $7.0 billion in 2015 YTD and the highest level for the period on record. Chinese issuers account for 81% of the region’s total so far this year, with 15 deals totaling $7.3 billion.
CITIC Securities remains at the top of the league table ranking with $12.8 billion in 2016 YTD. Morgan Stanley and GF Securities follow with $8.1 billion and $8.0 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 12,784 | 39 | 10.4 |
| 2 | Morgan Stanley | 8,128 | 29 | 6.6 |
| 3 | GF Securities Co Ltd | 8,025 | 28 | 6.5 |
| 4 | Deutsche Bank | 6,600 | 23 | 5.4 |
| 5 | Southwest Securities Co Ltd | 5,460 | 22 | 4.4 |
| 6 | Huatai Securities Co Ltd | 5,396 | 16 | 4.4 |
| 7 | Haitong Securities Ltd | 4,809 | 30 | 3.9 |
| 8 | China International Capital Corp Ltd | 4,337 | 17 | 3.5 |
| 9 | Guotai Junan Securities Co Ltd | 4,182 | 34 | 3.4 |
| 10 | Guosen Securities Co Ltd | 3,684 | 13 | 3.0 |
Debt Capital Markets
Ten Asian issuers have tapped the G3 debt capital markets for a total of $6.0 billion, on a par with $5.9 billion last week.
On July 11, Sri Lanka priced a $1.5 billion USD-denominated sovereign bond via bookrunners Standard Chartered Bank, Deutsche Bank, HSBC and Citi, in what is the largest G3 deal in the region this week. Overall Asia (ex Japan) G3 SSA issuance has reached a new YTD record high in 2016 with $44.7bn (46 deals), up 49% on the previous record of $30.0 billion in 2015.
HSBC continues to lead the G3 bond league table in Asia (ex Japan) with $12.4 billion. Bank of America Merrill Lynch and Citi follow with $8.8 billion and $8.6 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 12,359 | 72 | 10.4 |
| 2 | Bank of America Merrill Lynch | 8,795 | 40 | 7.4 |
| 3 | Citi | 8,618 | 47 | 7.2 |
| 4 | JPMorgan | 6,213 | 33 | 5.2 |
| 5 | Standard Chartered Bank | 5,731 | 34 | 4.8 |
| 6 | Bank of China | 5,304 | 28 | 4.4 |
| 7 | Deutsche Bank | 4,881 | 23 | 4.1 |
| 8 | BNP Paribas | 4,537 | 25 | 3.8 |
| 9 | Barclays | 3,901 | 18 | 3.3 |
| 10 | Goldman Sachs | 3,714 | 16 | 3.1 |
