Dealogic League Table Round-up Feb 23

$3.0bn Green Sukuk issued by Indonesian Government.

Equity Capital Markets

Asia (ex-Japan) ECM volume stands at $734m via 6 deals so far this week (6 follow-ons), compared to the $3.8bn via 26 deals completed in the previous week.

On February 20, South Korean issuer Mirae Asset Daewoo completed a $656m follow-on via KB Financial Group, Samsung Securities and SK Securities. This is the largest Asia (ex-Japan) ECM transaction this week and the second largest ECM transaction from South Korean issuers this YTD, following Kakao's $1bn follow-on in January.

South Korean ECM volume stands at $2.1bn via 21 deals so far this year, compared to $1.5bn via 23 deals in 2017 YTD. Technology accounts for 51% of the total issuance with $1.1bn via four deals in 2018 YTD, followed by Finance with $656m, and Healthcare with $141m.

Goldman Sachs leads the ECM league table with $5.1bn this YTD, Huatai Securities Co Ltd remains second on $3.4bn, and Citi keeps the third place with $2.6bn.

Asia (ex-Japan) ECM Bookrunner Rankings - 2018 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 Goldman Sachs 5,061.7 11 12.15
2 Huatai Securities Co Ltd 3,404.5 12 8.17
3 Citi 2,523.8 15 6.06
4 CITIC Securities 2,314.6 9 5.56
5 China Securities Co Ltd 2,132.0 8 5.12
6 Morgan Stanley 1,520.6 10 3.65
7 China Merchants Securities Co Ltd 1,502.7 9 3.61
8 UBS 1,280.4 8 3.07
9 China International Capital Corp Ltd 1,274.2 5 3.06
10 Guotai Junan Securities Co Ltd 1,226.0 8 2.94
SOURCE: Dealogic

Debt Capital Markets

Asia (ex-Japan) G3 DCM volume this week stands at $3.9bn via 4 deals, more than fourfold increase from last week ($459m via 4 deals).

The largest deals of the week go to Perusahaan Penerbit SBSN Indonesia III, a special purpose vehicle of Indonesia Government, priced a 2-tranche $3.0bn debut Green Sukuk Islamic bond with Abu Dhabi Islamic Bank PJSC, CIMB Group, Citi, Dubai Islamic Bank PJSC, and HSBC as bookrunners.

Southeast Asia is the most active region this week, Singapore-based OCBC and UOB issued covered bond in Euro (EUR5.0m) and British Pound Sterling (GBP3.5m, a debut currency issuance) respectively, both backed by 100% SGD-denominated Singaporean residential mortgages loans.

HSBC leads Asia (ex-Japan) G3 DCM league table in 2018 YTD with $3.8bn, Citi took over the second place with $2.64bn, followed by Bank of China with $2.61bn.

Asia (ex-Japan) G3 DCM Bookrunner Rankings - 2018 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 HSBC 3,816.4 33 7.84
2 Citi 2,637.4 18 5.42
3 Bank of China 2,614.6 20 5.37
4 Standard Chartered Bank 2,607.8 23 5.36
5 JPMorgan 2,516.4 10 5.17
6 Goldman Sachs 2,314.1 7 4.75
7 Credit Suisse 2,018.2 12 4.14
8 BNP Paribas 1,875.9 13 3.85
9 Deutsche Bank 1,711.0 13 3.51
10 Morgan Stanley 1,488.3 10 3.06
SOURCE: Dealogic
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