Dealogic League Table Round-up Dec 2

Republic of Indonesia issues largest sovereign bond in Asia

Equity Capital Markets

Asia (ex Japan) issuers have raised $3.4 billion through 38 deals this week, up from $2.9 billion raised via 38 deals last week.

The largest deal of the week is a follow-on by Kaidi Ecological & Environmental Technology, a Chinese Utility & Energy company, for $618 million through bookrunners Deutsche Bank and China Galaxy Financial Holdings.

Asia (ex Japan) Utility & Energy companies have raised a total of $13.2 billion in 2016 YTD in the equity capital markets, compared to $10.4 billion raised in the same period last year. The volume is led by Chinese issuers with $10.1 billion via 25 deals.

CITIC Securities leads the ECM league table ranking with $17.0 billion in 2016 YTD. Morgan Stanley and GF Securities complete the top three with $14.0 billion and $12.2 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD
  Bookrunner Deal Value ($m) No. %share
1 CITIC Securities 16,956 70 6.9
2 Morgan Stanley 14,046 47 5.7
3 GF Securities Co Ltd 12,198 52 5.0
4 Huatai Securities Co Ltd 9,613 35 3.9
5 Deutsche Bank 9,550 43 3.9
6 China Securities Co Ltd 9,224 50 3.8
7 China International Capital Corp Ltd 9,052 40 3.7
8 Haitong Securities Ltd 8,997 58 3.7
9 Guotai Junan Securities Co Ltd 8,854 63 3.6
10 Guosen Securities Co Ltd 7,956 26 3.2

Debt Capital Markets

Eight Asia (ex Japan) issuers have tapped the G3 debt capital market for a total of $7.2 billion, almost on par with the $7.5 billion raised via 14 deals last week.

The largest deal of the week is Republic of Indonesia’s $3.5 billion USD-denominated sovereign bond through bookrunners Standard Chartered Bank, HSBC, Citi, and Bank of America Merrill Lynch. This issuance is also the largest Asia (ex Japan) sovereign bond so far this year. Including this deal, there are nine G3 sovereign bond issuances for a total of $16.8 billion in 2016 YTD, down from $18.7 billion via 12 deals in the same period last year.

HSBC leads the G3 bond league table in Asia (ex Japan) with $21.6 billion in 2016 YTD. Citi and Bank of America Merrill Lynch follow with $16.0 billion and $14.5 billion, respectively.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 21,579 146 9.8
2 Citi 15,972 103 7.3
3 Bank of America Merrill Lynch 14,476 82 6.6
4 Standard Chartered Bank 11,489 82 5.2
5 JPMorgan 11,275 72 5.1
6 Bank of China 10,054 74 4.6
7 BNP Paribas 7,815 51 3.6
8 Deutsche Bank 7,149 43 3.3
9 UBS 7,023 64 3.2
10 Morgan Stanley 6,654 51 3.0

 

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