Equity Capital Markets
Asia (ex Japan) ECM volume stands at $3.0bn via 23 deals so far this week (four IPOs, 14 follow-ons and five convertible), compared to the $6.1bn via 26 deals completed in the previous week.
On May 30, Korean issuer Samsung Electronics completed a $1.2bn follow-on via JP Morgan and Goldman Sachs as bookrunners. South Korea ECM volume in 2018 YTD reached $9.3bn via 57 deals, highest level since 2010 ($9.4bn). On a year-on-year comparison, the volume jumped 33% from $7.0bn via 62 deals.
Nine Asia (ex Japan) ECM transactions are expected to price next week (five IPOs and four follow-ons), for an estimated total of $708m. The largest expected deal is Del Monte Philippines' $341m IPO via BDO Capital & Investment Corp as bookrunner.
Goldman Sachs took over the first place in the ECM league table with $10.0bn this YTD, Citi follows this with $9.4bn, and Morgan Stanley is the third with $7.4bn.
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
|---|---|---|---|---|
| 1 | Goldman Sachs | 9,971.5 | 33 | 8.98 |
| 2 | Citi | 9,376.0 | 42 | 8.44 |
| 3 | Morgan Stanley | 7,369.5 | 25 | 6.64 |
| 4 | China International Capital Corp Ltd | 6,725.3 | 16 | 6.06 |
| 5 | China Securities Co Ltd | 6,483.6 | 21 | 5.84 |
Debt Capital Markets
Asian (ex Japan) G3 DCM deal volume stands at $3.9bn (7 deals) so far this week, down 49% from the $7.6bn (15 deals) raised last week.
The largest deal of the week goes to Bank of China Ltd (London) priced a $1.0bn corporate bond with Bank of America Merrill Lynch, Bank of China, BNP Paribas, Citi, Commerzbank, Credit Agricole CIB, and HSBC as bookrunners. This is a green bond used for mixture of renewable energy, sustainable waste management, clean transportation, and sustainable waste management.
Asia (ex Japan) G3 green bond volume is at record high level with $7.2bn, fourfold increase from the $1.8bn raised in the previous year same period. Number of such deals also more than doubled from 4 deals last YTD to 10 deals this YTD.
HSBC leads Asia (ex Japan) G3 DCM league table in 2018 YTD with $11.2bn, Citi follows it with $8.4bn, and Bank of China is the third with $7.4bn.
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
|---|---|---|---|---|
| 1 | HSBC | 11,186.8 | 91 | 7.73 |
| 2 | Citi | 8,402.6 | 59 | 5.81 |
| 3 | Bank of China | 7,389.9 | 76 | 5.11 |
| 4 | Standard Chartered Bank | 5,650.8 | 52 | 3.90 |
| 5 | Goldman Sachs | 5,469.6 | 25 | 3.78 |
