Equity Capital Markets
Asia (ex Japan) issuers have raised $6.5 billion through 21 deals this week, down 11% from the $7.3 billion via 48 deals priced in the previous week.
The two largest deals of the week were both Chinese A-share private placements: Kingray New Materials Science & Technology’s $2.2 billion deal through bookrunners China International Capital Corp and Huatai Securities, followed by SAIC Motor Corp’s $2.2 billion deal through bookrunners CITIC Securities, China International Capital Corp, and Guotai Junan Securities.
China International Capital Corp leads the ECM league table with $3.6 billion in 2017 YTD. CITIC Securities and Haitong Securities follow with $2.6 billion and $2.5 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD | ||||
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | China International Capital Corp Ltd | 3,569.57 | 6 | 14.82 |
| 2 | CITIC Securities | 2,601.54 | 9 | 10.8 |
| 3 | Haitong Securities Ltd | 2,499.34 | 14 | 10.38 |
| 4 | China Securities Co Ltd | 2,063.86 | 11 | 8.57 |
| 5 | Guotai Junan Securities Co Ltd | 1,416.91 | 4 | 5.88 |
| 6 | Bank of China | 1,375.54 | 7 | 5.71 |
| 7 | Huatai Securities Co Ltd | 1,370.19 | 2 | 5.69 |
| 8 | UBS | 1,308.82 | 4 | 5.44 |
| 9 | Deutsche Bank | 925.82 | 4 | 3.84 |
| 10 | Huarong Securities Co Ltd | 630.39 | 2 | 2.62 |
Debt Capital Markets
10 Asian issuers have tapped the G3 debt capital markets for a total of $5.0 billion, a sharp decline from the $16.0 billion via 20 deals totaled last week.
The largest deal of the week is a $1.4 billion Investment Grade corporate bond by Smithfield Foods, a US subsidiary of WH Group, a Chinese Food & Beverage firm, through bookrunners Goldman Sachs, Morgan Stanley, Barclays, Bank of China, and Bank of America Merrill Lynch. This is followed by India’s Vedanta Resources’ issuance of USD-denominated High Yield corporate bond for $1.0 billion via bookrunners Standard Chartered Bank, JPMorgan, Barclays, and Citi.
JPMorgan leads the DCM league table with $2.9 billion in 2017 YTD, followed by Citi and Goldman Sachs with $2.8 billion and $2.6 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | JPMorgan | 2,928 | 12 | 9.72 |
| 2 | Citi | 2,778 | 12 | 9.22 |
| 3 | Goldman Sachs | 2,627 | 9 | 8.72 |
| 4 | Deutsche Bank | 1,956 | 12 | 6.49 |
| 5 | Standard Chartered Bank | 1,943 | 12 | 6.45 |
| 6 | HSBC | 1,795 | 14 | 5.96 |
| 7 | Nomura | 1,147 | 4 | 3.81 |
| 8 | Barclays | 1,130 | 7 | 3.75 |
| 9 | Bank of China | 1,025 | 6 | 3.4 |
| 10 | Credit Suisse | 864 | 8 | 2.87 |
