Equity Capital Markets
Asia (ex Japan) issuers have raised a total of $3.9bn through 35 deals this week, 47% up from $2.6bn raised last week via 37 deals.
On June 19, Hong Kong International Construction Investment Management Group Co Ltd completed a $1.2bn follow on via sole bookrunner China Construction Bank, marking it as the largest Asia (ex Japan) ECM transaction this week and also the second largest ECM deals completed in Hong Kong Stock Exchange so far this year.
Hong Kong Stock Exchange ECM volume stands at $16.2bn via 156 deals in 2017 YTD, up from $11.9bn via 123 deals in the same 2016 period, but still the third lowest YTD volume in 10 years ($11.9bn in 2016 and $12.8bn in 2008).
China International Capital Corp leads the ECM league table with $7.1bn in 2017 YTD, followed by CITIC Securities with $7.1bn and Goldman Sachs is third with $5.8bn.
| Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD | ||||
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | China International Capital Corp Ltd | 7,142.6 | 32 | 6.61 |
| 2 | CITIC Securities | 7,084.4 | 35 | 6.56 |
| 3 | Goldman Sachs | 5,753.3 | 20 | 5.33 |
| 4 | China Securities Co Ltd | 4,866.6 | 27 | 4.51 |
| 5 | Guotai Junan Securities Co Ltd | 4,408.0 | 29 | 4.08 |
| 6 | UBS | 3,906.3 | 18 | 3.62 |
| 7 | Citi | 3,860.6 | 29 | 3.57 |
| 8 | Morgan Stanley | 3,836.1 | 22 | 3.55 |
| 9 | Haitong Securities Ltd | 3,636.4 | 33 | 3.37 |
| 10 | GF Securities Co Ltd | 3,016.9 | 35 | 2.79 |
Debt Capital Markets
Eleven Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $8.1bn, up 173% from the $3.0bn issued last week via 8 deals.
On 21 Jun 2017, China Evergrande Group completed $3.8bn bond concurrent with $2.8bn exchange offer, totaling $6.6bn via bookrunners China CITIC Bank Corp, Credit Suisse, and Haitong Securities. The money raised marked the largest high-yield bond and largest bond from Real Estate sector on records.
Asia ex Japan Real Estate bond recorded $26.7bn volume via 79 deals this year-to-date. This mark the highest year-to-date figure on record surpassing the previous record set in 2014 ($23.3bn via 94 deals).
HSBC leads the G3 DCM league table in 2017 YTD with $15.8bn. This is followed by Citi with $13.0bn and Standard Chartered Bank with $10.4bn.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | HSBC | 15,766.1 | 103 | 8.9 |
| 2 | Citi | 12,977.5 | 87 | 7.33 |
| 3 | Standard Chartered Bank | 10,436.0 | 69 | 5.89 |
| 4 | JPMorgan | 8,426.0 | 53 | 4.76 |
| 5 | Deutsche Bank | 8,388.9 | 45 | 4.74 |
| 6 | Bank of China | 7,952.9 | 65 | 4.49 |
| 7 | Bank of America Merrill Lynch | 6,886.7 | 44 | 3.89 |
| 8 | Goldman Sachs | 5,609.5 | 27 | 3.17 |
| 9 | UBS | 5,588.7 | 43 | 3.16 |
| 10 | Credit Suisse | 5,400.7 | 33 | 3.05 |
