Dealogic League Table Round-up Dec 1

Equity Capital Markets

Asia (ex-Japan) ECM deals activity was down three consecutive weeks. This week’s volume stands at 4.4bn via 32 deals, down 20% from the $5.5bn (36 deals) raised last week.

On December 1^st, Chinese issuer Bank of Ningbo completed a $1.5bn convertible via two bookrunners CITIC Securities and China International Capital Corp, this is the largest Asia (ex-Japan) ECM transaction this week.

Asia (ex-Japan) Finance ECM volume stands at $33.3bn via 126 deals so far this year, down from $35.4bn via 109 deals in the same period last year. China accounts for 61.9% of the total issuance with $20.6bn (31 deals) in 2017 YTD. This is followed by India and Hong Kong with $7.4bn and $1.5bn, respectively.

CITIC Securities leads the ECM league table with $15.1bn in 2017 YTD, China International Capital Corp Ltd took over the second position with $10.8bn and Goldman Sachs follows this with $10.2bn.

Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD
Pos.	Bookrunner	Deal Value ($m)	No.	%share
1	CITIC Securities	15,143.5	81	6.64
2	China International Capital Corp Ltd	10,831.2	51	4.75
3	Goldman Sachs	10,242.9	47	4.49
4	China Securities Co Ltd	9,986.5	47	4.38
5	UBS	9,859.0	43	4.32
6	Citi	9,420.6	67	4.13
7	Guotai Junan Securities Co Ltd	9,342.3	55	4.1
8	Morgan Stanley	8,863.5	52	3.89
9	Deutsche Bank	6,115.3	41	2.68
10	Huatai Securities Co Ltd	6,022.2	36	2.64

SOURCE: Dealogic

Debt Capital Markets

Asia (ex-Japan) G3 issuance volume increased to $16.1bn (16 deals) this week from the $10.9bn (23 deals) raised in the previous week.

On November 29^th, Alibaba Group Holding priced a $7.0bn USD-denominated bond via bookrunners Citi, Credit Suisse, Goldman Sachs, JP Morgan, and Morgan Stanley. This is the second largest Asia (ex-Japan) USD-denominated deal priced in 2017, behind Postal Savings Bank of China’s $7.3bn deal (September 21^st). It is also the second largest DCM deal by the issuer behind its $8.0bn bond issued in 2014.

Pakistan tapped the international market twice this week, raising $2.5bn in total. The deal consists of a $1.5bn conventional tranche and a $1.0bn Sukuk tranche, and it is the largest deal by the issuer on record.

HSBC leads the G3 DCM league table in 2017 YTD with $26.3bn, followed by Citi with $24.2bn and Standard Chartered Bank with $17.4bn.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD
Pos.	Bookrunner	Deal Value ($m)	No.	%share
1	HSBC	26,319.6	193	7.82
2	Citi	24,150.7	160	7.17
3	Standard Chartered Bank	17,418.6	131	5.17
4	Bank of China	16,543.0	139	4.91
5	JPMorgan	15,564.5	101	4.62
6	Deutsche Bank	14,307.3	86	4.25
7	Bank of America Merrill Lynch	13,008.2	81	3.86
8	Goldman Sachs	11,794.7	58	3.5
9	BNP Paribas	11,747.5	79	3.49
10	Morgan Stanley	11,167.7	69	3.32

SOURCE: Dealogic