Dealogic League Table Round-up July 29

Equity Capital Markets

Asia (ex Japan) issuers have raised $5.4 billion through 29 deals so far this year, up 40% on the $4.6 billion raised in the same period last week.

Tunghsu Azure Renewable Energy’s $1.4 billion placement through Morgan Stanley and Guanzhou Securities is the largest deal of the week and the seventh largest A-share ECM transaction so far this year.

Another notable transaction this week is China Film’s $623 IPO through sole bookrunner China Securities. The deal is also the second largest A-share IPO this year, behind Bank of Jiangsu’s $1.1 billion listing on June 28^th.

A-share ECM volume has reached $89.8 billion in 2016 YTD, up 16% year-on-year while overall Asia (ex Japan) ECM volume has dropped 26% during the same period to $134.6 billion.

CITIC Securities remains at the top of league table ranking with $13.2 billion in 2016 YTD. Morgan Stanley and GF Securities complete the top three rankings with $8.9 billion and $8.2 billion, respectively.

Debt Capital Markets

Seven Asian issuers have tapped the G3 debt capital markets for a total of $3.2 billion, down from the $4.2 billion raised in the same period last week.

The largest deal this week is Export-Import Bank of India’s $1 billion trade through bookrunners Standard Chartered, JPMorgan, Barclays, Citi and Bank of America Merrill Lynch.

Another Indian issuer to tap the market is Adani Transmission’s $500 million trade which brings July issuance to $3.0 billion via five deals, the highest monthly volume for the nation since July 2014 ($5.2 billion) and highest activity since November 2014 (seven deals). Despite the increase in monthly issuance, Indian G3 bond volume is still down 19% year-on-year to $5.7 billion in 2016 so far.

HSBC leads the G3 bond league table in Asia (ex Japan) with $13.2 billion. Bank of America Merrill Lynch and Citi follow with $9.4 billion and $9.2 billion, respectively.