The equity capital markets picked up the pace this week with $2.9 billion raised via 22 issues û bringing year-to-date volume to $8.8 billion. UBS spearheads the league table rankings with $1.1 billion from 11 deals and is followed by Goldman Sachs and JP Morgan.
Reliance CommunicationsÆ $1 billion convertible was the largest issue of the week and the largest convertible bond out of India on record, surpassing Vedanta Finance (Jersey)Æs $725 million deal priced in January last year. Bookrunners HSBC and JP Morgan gained ground in the rankings with HSBC entering the top 10 in fifth spot, while JP Morgan moved up a spot to third place.
A $425 million convertible for Suntech Power Holdings was also priced this week. ABN AMRO Rothschild, Goldman Sachs and UBS were the bookrunners.
A number of deals are scheduled to price next week including a $236 million IPO for China Properties Group led by Merrill Lynch Far East; and a $164 IPO million for Indian Bank via bookrunners Enam Financial Consultants, ICICI Securities, Kotak Mahindra Finance and SBI Capital Markets.
Debt Capital Markets
The debt capital markets saw a total of $2.2 billion raised this week via two trades. Deutsche Bank sits at the top of the league table rankings with $2.1 billion from seven deals with Citigroup and Merrill Lynch rounding out the top three.
The $1.5 billion sovereign bond for Republic of Indonesia was the other deal of the week and led by Citigroup, Deutsche Bank and UBS. The deal enabled UBS to climb up to fourth place from 12th last week.
State Bank of IndiaÆs $700 million trade was the second deal of the week and bookrun by Barclays Capital, Citigroup, Deutsche Bank and HSBC. Barclays moved up a notch to sixth place while HSBC entered the rankings in the ninth spot.
