Equity Capital Markets
Asia (ex Japan) issuers have raised a total of $2.0bn through 23 deals this week, on par with the $5.1bn raised last week via 42 deals.
The largest deal of the week was a follow-on by Suzhou Dongshan Precision Manufacturing Co Ltd for $653m via sole bookrunner TF Securities.
This is the largest Asia (ex Japan) transaction in the Metal & Steel sector this YTD, and volume is up from $2.1bn via 29 deals in 2016 YTD to $5.2bn via 45 deals so far this year. Chinese issuers account for 85% of total volume with $4.4bn via 32 deals so far in 2017, up from the $2.0bn raised in the same 2016 period
CITIC Securities leads the ECM league table with $6.8bn and $6.7b in 2017 YTD, followed by China International Capital Corp with $6.7 and Goldman Sachs is third with $5.4bn.
| Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 6,837.5 | 32 | 7.36 |
| 2 | China International Capital Corp Ltd | 6,746.4 | 29 | 7.26 |
| 3 | Goldman Sachs | 5,353.0 | 18 | 5.76 |
| 4 | China Securities Co Ltd | 4,746.3 | 26 | 5.11 |
| 5 | Guotai Junan Securities Co Ltd | 4,406.3 | 29 | 4.74 |
| 6 | UBS | 3,587.7 | 16 | 3.86 |
| 7 | Haitong Securities Ltd | 3,542.2 | 31 | 3.81 |
| 8 | Morgan Stanley | 3,236.0 | 18 | 3.48 |
| 9 | Citi | 2,861.8 | 22 | 3.08 |
| 10 | Huatai Securities Co Ltd | 2,721.9 | 12 | 2.93 |
Debt Capital Markets
Twelve Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $7.4bn via 12 deals, up 65% on the $4.5bn issued last week via 16 deals.
Nanyang Commercial Bank and China Construction Bank both priced a $1.2bn USD-denominated bond this week via consortiums of bookrunners.
There were three debut issuers this week, totaling $1.1bn. Notably, debut issuance has reached $16.2bn in 2017 YTD, up 34% in the same 2016 period ($12.1bn) and it is the third highest YTD volume behind 2015 ($17.5bn) and 2013 ($32.9bn).
HSBC leads the G3 DCM league table in 2017 YTD with $14.0bn. This is followed by Citi with $12bn and Standard Chartered Bank with $8.9bn.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 13,968.4 | 87 | 8.89 |
| 2 | Citi | 11,903.3 | 76 | 7.58 |
| 3 | Standard Chartered Bank | 8,850.4 | 56 | 5.63 |
| 4 | Deutsche Bank | 8,089.5 | 42 | 5.15 |
| 5 | JPMorgan | 7,850.5 | 47 | 5 |
| 6 | Bank of China | 7,034.5 | 57 | 4.48 |
| 7 | Bank of America Merrill Lynch | 5,667.9 | 37 | 3.61 |
| 8 | Morgan Stanley | 5,216.5 | 33 | 3.32 |
| 9 | Goldman Sachs | 5,129.0 | 24 | 3.26 |
| 10 | UBS | 4,873.1 | 36 | 3.1 |
