Dealogic League Table Round-up Apr 21

Deals over $1.0 billion priced this week in equity and debt capital markets.

Equity Capital Markets

Asia (ex Japan) issuers have raised a total of $4.3 billion through 29 deals this week, up 88% from the $2.3 billion raised last week via 37 deals.

The largest deal of the week is a private placement by Power Construction Corp of China for $1.7 billion via bookrunners China Securities, CITIC Securities, Guotai Junan Securities, and China International Capital Corp.

This deal is the seventh largest ECM deal in Asia (ex Japan) so far this year, and the largest ECM deal since China’s CRRC Corp’s follow-on for $1.8 billion on January 19, 2017.

China International Capital Corp leads the ECM league table with $6.5 billion in 2017 YTD. CITIC Securities and China Securities follow with $6.2 billion and $4.1 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No. %share
1 China International Capital Corp Ltd 6,515 25 9.3
2 CITIC Securities 6,201 26 8.9
3 China Securities Co Ltd 4,077 22 5.8
4 Goldman Sachs 4,001 11 5.7
5 Guotai Junan Securities Co Ltd 3,953 22 5.6
6 Haitong Securities Ltd 3,260 27 4.7
7 UBS 2,939 11 4.2
8 Huatai Securities Co Ltd 2,685 11 3.8
9 Citi 2,028 18 2.9
10 Bank of China 1,811 12 2.6

Debt Capital Markets

11 Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $7.2 billion, slightly down from the $7.6 billion issued last week via 16 deals.

The largest deal of the week is a $3.4 billion USD-denominated investment grade corporate bond by Huarong Finance 2017, a financial vehicle of China Huarong Asset Management, via a consortium of 17 bookrunners.

This is followed by another issuance over $1.0 billion, a USD-denominated investment grade corporate bond by Industrial & Commercial Bank of China (Singapore), a subsidiary of Industrial & Commercial Bank of China – ICBC, for $2.0 billion via a consortium of 11 bookrunners.

HSBC leads the G3 DCM league table in 2017 YTD with $9.9 billion. This is followed by Citi and Standard Chartered Bank with $7.5 billion each.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 9,918 68 8.2
2 Citi 7,468 53 6.2
3 Standard Chartered Bank 7,461 46 6.2
4 JPMorgan 6,614 38 5.5
5 Bank of China 5,776 46 4.8
6 Deutsche Bank 5,009 34 4.1
7 Morgan Stanley 4,497 28 3.7
8 Bank of America Merrill Lynch 4,451 32 3.7
9 Goldman Sachs 4,135 18 3.4
10 Credit Suisse 3,289 25 2.7
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