Equity Capital Markets
Asia (ex-Japan) ECM volume stands at $2.6bn via 26 deals so far this, on par with the $2.6bn via 28 deals completed in last week.
On August 7, Zhejiang Satellite Petrochemical completed a $446m follow on via sole bookrunner Guosen Securities, this is the largest Asia (ex-Japan) ECM transaction this week.
Asia (ex-Japan) ECM volume has reached $144.9bn via 1,263 deals in 2017 YTD, down 4% from the $150.3bn via 1,061 deals in the same period last year. Follow-ons account for 63% of total volume with $91.1bn, the lowest YTD volume since 2014 ($84.0bn); while IPOs account for 29% of total volume with $42.1bn, the highest YTD volume since 2011 ($55.8bn).
CITIC Securities leads the ECM league table with $8.1bn in 2017 YTD, followed by China International Capital Corp with $7.8bn and Goldman Sachs is third with $7.3bn.
| Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 8,081.9 | 46 | 5.87 |
| 2 | China International Capital Corp Ltd | 7,824.4 | 37 | 5.68 |
| 3 | Goldman Sachs | 7,274.8 | 27 | 5.29 |
| 4 | Guotai Junan Securities Co Ltd | 5,991.3 | 40 | 4.35 |
| 5 | Citi | 5,733.6 | 38 | 4.17 |
| 6 | China Securities Co Ltd | 5,372.1 | 32 | 3.9 |
| 7 | UBS | 5,005.0 | 24 | 3.64 |
| 8 | Morgan Stanley | 4,364.9 | 25 | 3.17 |
| 9 | Haitong Securities Ltd | 4,336.2 | 43 | 3.15 |
| 10 | GF Securities Co Ltd | 3,981.7 | 48 | 2.89 |
Debt Capital Markets
Asia (ex-Japan) G3 DCM volume totaled $2.2bn via 9 deals this week, down 72% from the $8.0bn raised last week via 14 deals.
On August 7, 2017, Export-Import Bank of India priced a $400m USD-denominated bond via a sole bookrunner Standard Chartered Bank. This is the second largest deal priced this week in the international market, also the second Formosa bond priced by an Indian issuer in history since Reliance Industries’ $200m bond raised in May 18, 2015.
Notably, China Huiyuan Juice Group priced a $150m USD-denominated bond on August 10, 2017 via bookrunners Bank of China and China Everbright Bank. It is the first USD-denominated bond priced by the issuer in the international market. Food and Beverage industry volume has reached $4.2bn this YTD in the Asia (ex-Japan) International market, up from $1.8bn raised in the same period last year it is the highest YTD volume on record.
HSBC leads the G3 DCM league table in 2017 YTD with $19.4bn. This is followed by Citi with $15.8bn and Standard Chartered Bank with $12.3bn.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 19,372.5 | 136 | 8.84 |
| 2 | Citi | 15,787.8 | 107 | 7.21 |
| 3 | Standard Chartered Bank | 12,342.7 | 90 | 5.63 |
| 4 | Deutsche Bank | 10,761.3 | 58 | 4.91 |
| 5 | JPMorgan | 10,652.0 | 71 | 4.86 |
| 6 | Bank of China | 9,965.7 | 89 | 4.55 |
| 7 | Bank of America Merrill Lynch | 8,324.1 | 57 | 3.8 |
| 8 | Goldman Sachs | 7,563.7 | 37 | 3.45 |
| 9 | UBS | 6,847.5 | 62 | 3.13 |
| 10 | Morgan Stanley | 6,635.9 | 46 | 3.03 |
