Dealogic League Table Round-up December 11

China Overseas Finance Investment (Cayman) V Ltd completes largest equity-linked deal in 2015 YTD

Equity Capital Markets

A total of $7.5 billion has been raised in the equity capital markets in Asia (ex Japan) so far this week through 52 deals, up 28% on the $5.9 billion raised in the same period last week.

China Overseas Finance Investment (Cayman) V Ltd’s $1.5 billion equity-linked deal through boorkunners Citi, Goldman Sachs, HSBC, Bank of America Merrill Lynch, BNP Paribas, Bank of China and China International Capital Corp is the largest deals of the week.

The deal is also the largest equity-linked deal in Asia (ex Japan) since Zhejiang Zheneng Electric Power’s $1.6 billion priced in October 2014.

Asia (ex Japan) equity-linked issuance has reached $11.1 billion in 2015 YTD, down 43% year-on-year and the lowest YTD level since 2012 ($10.3 billion)

CITIC Securities remains at the top league table ranking with $17.2 billion. Goldman Sachs and UBS follow with $15.2 billion and $14.2 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD
  Bookrunner Deal Value ($m) No. %share
1 CITIC Securities 17,246 68 7.2
2 Goldman Sachs 15,165 54 6.3
3 UBS 14,207 52 5.9
4 Morgan Stanley 11,303 64 4.7
5 Guotai Junan Securities 9,183 46 3.8
6 Credit Suisse 8,454 50 3.5
7 JP Morgan 7,956 37 3.3
8 Haitong Securities 7,448 69 3.1
9 Deutsche Bank 6,505 29 2.7
10 China Merchants Securities 6,048 43 2.5

Debt Capital Markets

Four issuers have tapped the Asia (ex Japan) G3 capital markets for a total of $3.2 billion so far this week, down from the $6.1 billion raised in the same period last week.

Volume was primarily driven by China Construction Bank Corp’s $3.5 billion preferred share through bookrunners Standard Chartered Bank, JPMorgan, UBS, Morgan Stanley, HSBC, China Construction Bank Corp and Bank of Communications and Citi.

G3 FIG bond issuance in the region has reached $52.3 billion so far this year, down 12% on from the record $59.7 billion raised in 2014 YTD. China accounts for 76% of total volume with $40.0 billion, the highest YTD level on record and up 16% year-on-year.

HSBC continues to lead the league table rankined with $20.4 billion in 2015 YTD while Citi and Bank of America Merrill Lynch follow with $17.4 billion and $13.0 billion, respectively.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 20,427 122 10.8
2 Citi 17,401 93 9.2
3 Bank of America Merrill Lynch 12,960 80 6.8
4 JPMorgan 12,416 68 6.5
5 Deutsche Bank 11,046 72 5.8
6 Standard Chartered Bank 10,870 63 5.7
7 Morgan Stanley 7,877 45 4.2
8 Goldman Sachs 7,758 36 4.1
9 Bank of China 6,538 55 3.4
10 BNP Paribas 6,076 45 3.2

 

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