Dealogic League Table Round-up Apr 7

Both Asia equity and debt capital markets were at sluggish pace this week

Equity Capital Markets

Asia (ex Japan) issuers have raised a total of $2.5 billion through 26 deals this week, considerably down compared to the $6.4 billion raised last week via 45 deals.

The largest deal of the week is China’s Zhejiang Expressway’s convertible deal for $389 million via bookrunners Bank of China, China International Capital Corp, and Citi.

Asia (ex Japan) ECM volume totals to $63.0 billion so far this year, up 13% from the same period last year. Follow-on deals lead the volume with $43.4 billion, while IPOs and convertibles follow with $13.7 billion and $5.8 billion.

China International Capital Corp leads the ECM league table with $5.9 billion in 2017 YTD. CITIC Securities and Goldman Sachs follow with $5.5 billion and $4.0 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No. %share
1 China International Capital Corp Ltd 5,876 21 9.3
2 CITIC Securities 5,534 21 8.8
3 Goldman Sachs 4,001 11 6.4
4 China Securities Co Ltd 3,545 20 5.6
5 Guotai Junan Securities Co Ltd 3,509 20 5.6
6 Haitong Securities Ltd 3,166 24 5.0
7 UBS 2,939 11 4.7
8 Huatai Securities Co Ltd 2,279 9 3.6
9 Bank of China 1,811 12 2.9
10 Citi 1,528 14 2.4

Debt Capital Markets

10 Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $6.0 billion, down from the $8.5 billion issued last week via 14 deals.

The largest deal of the week is a $3.4 billion USD-denominated investment grade corporate bond by China’s Sinopec Group Overseas Development (2017), a finance vehicle of China Petrochemical Corp, via a consortium of 15 bookrunners.

This is followed by a USD-denominated high yield corporate bond issued by India’s JSW Steel for $500 million via bookrunners JPMorgan, Deutsche Bank, BNP Paribas, Credit Suisse, and Citi.

HSBC leads the G3 DCM league table in 2017 YTD with $8.8 billion. This is followed by Citi and JPMorgan with $6.8 billion and $6.5 billion.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 8,795 59 8.3
2 Citi 6,810 44 6.4
3 JPMorgan 6,491 36 6.1
4 Standard Chartered Bank 6,398 38 6.1
5 Bank of China 4,725 35 4.5
6 Deutsche Bank 4,296 26 4.1
7 Goldman Sachs 4,143 18 3.9
8 Bank of America Merrill Lynch 4,069 28 3.9
9 Morgan Stanley 3,939 24 3.7
10 UBS 2,867 21 2.7
¬ Haymarket Media Limited. All rights reserved.
Share our publication on social media
Share our publication on social media