Equity Capital Markets
Asia (ex Japan) ECM volume stands at $470m via 10 deals so far this week compared to the $2.4bn via 22 deals completed in the previous week.
South Korean issuer Lotte Tour Development completed a $191 follow-on via Mirae Asset Daewoo in what is the largest Asia (ex Japan) ECM transaction this week.
South Korea listed ECM volume stands at $12.7bn via 114 deals in 2018 YTD, a fifth consecutive year-on-year increase since 2013 ($5.5bn) and the second highest YTD volume on record, behind 2010 ($12.7bn). Despite increase in volume, activity has dropped for the second consecutive YTD, from 123 deals in 2016 YTD to 114 deals in 2018 YTD.
Goldman Sachs leads Asia (ex Japan) ECM market with $15.0bn, followed by Citi with $12.1bn and Morgan Stanley with $11.3bn.
Debt Capital Markets
Asia (ex Japan) international DCM totaled $4.5bn via 7 deals this week, compared to $1.1m via 3 deals in the previous week.
The largest deal of the week goes to Chinese government USD-denominated bond with $3bn proceeds via Bank of China, Bank of Communications, China Construction Bank, China International Capital, Credit Agricole, CTBC Bank, CB, GS, HSBC< JPM, Mizuho Securities, and Standard Chartered.
In Asia (ex Japan) International DCM, this is the largest and seventh bond issuance by Chinese government on record. Last USD denominated bond issuance by Chinese government in this market was in 2001.
HSBC leads the Asia (ex Japan) international DCM league with $21.6bn. This is followed by Citi with $15.2bn and Standard Chartered Bank with $11.9bn.
