Dealogic League Table Round-up Feb 17

G3 Debt Capital Market on YTD record high despite drop in volume this week

Equity Capital Markets

Asia (ex Japan) issuers have raised $4.0 billion through 28 deals this week, more than double the $1.7 billion raised last week via 29 deals.

The largest deal of the week is China’s Elion Clean Energy A-share private placement for $654 million via bookrunners Huaxi Securities and Chinalin Securities. This deal is the 10th largest ECM deal in the region so far this year and the second largest deal in February after HKT Trust / HKT’s $1.1 billion block trade priced last week via Goldman Sachs.

China International Capital Corp leads the ECM league table with $3.6 billion in 2017 YTD. CITIC Securities and Haitong Securities follow with $2.9 billion and $2.7 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No. %share
1 China International Capital Corp Ltd 3,572 6 11.6
2 CITIC Securities 2,885 10 9.3
3 Haitong Securities Ltd 2,722 15 8.8
4 Goldman Sachs 2,592 5 8.4
5 China Securities Co Ltd 2,103 12 6.8
6 Guotai Junan Securities Co Ltd 1,758 9 5.7
7 Huatai Securities Co Ltd 1,474 4 4.8
8 Bank of China 1,378 7 4.5
9 UBS 1,309 4 4.2
10 Deutsche Bank 926 4 3.0

Debt Capital Markets

Seven Asian (ex Japan) issuers have tapped the G3 debt capital markets for a total of $5.7 billion, down 34% compared to $8.5 billion issued last week via 11 deals.

The largest deal of the week is a $2.0 billion USD-denominated corporate investment grade bond by Industrial & Commercial Bank of China (Hong Kong) via a consortium of nine bookrunners.

Despite the slowdown in volume this week, Asia G3 volume for 2017 YTD has more than doubled to $45.0 billion from $20.6 billion in the same period last year, marking the highest YTD volume on record. Volume is led by Finance sector with $25.5 billion, followed by Real Estate with $5.2 billion.

HSBC leads the G3 DCM league table in 2017 YTD with $4.2 billion, followed by JPMorgan and Citi with $4.0 billion and $3.6 billion, respectively.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 4,230 26 9.4
2 JPMorgan 3,982 20 8.9
3 Citi 3,591 17 8.0
4 Standard Chartered Bank 2,709 18 6.0
5 Goldman Sachs 2,474 10 5.5
6 Deutsche Bank 2,300 15 5.1
7 Bank of America Merrill Lynch 2,128 12 4.7
8 Bank of China 2,015 13 4.5
9 Morgan Stanley 1,991 8 4.4
10 UBS 1,339 10 3.0
¬ Haymarket Media Limited. All rights reserved.