Equity Capital Markets
A total of $6.3 billion has been raised in the Asian equity capital markets so far this week through 29 deals, down slightly on the $6.9 billion raised in the prior week.
China Fortune Land Development’s $1.1 billion follow-on through bookrunners CITIC Securities and Huatai Securities is the largest deal of the week and also the ninth largest ECM transaction globally so far this year
A-share ECM issuance has reached $21.9 billion so far this month, surpassing the previous monthly record of $21.7 billion raised in September 2007. Follow-ons account for the bulk of the A-share issuance with $19.3 billion, up significantly from the $3.4 billion raised in the same period last year.
GF Securities leads the league table bookrunner ranking with $3.5 billion in 2016 YTD while CITIC Securites and Guosen Securtiies follow with $2.2 billion and $2.1 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | GF Securities | 3,529 | 8 | 13.3 |
| 2 | CITIC Securities | 2,151 | 7 | 8.1 |
| 3 | Guosen Securities | 2,137 | 6 | 8.1 |
| 4 | Haitong Securities Ltd | 1,910 | 9 | 7.2 |
| 5 | China International Capital Corp | 1,662 | 7 | 6.3 |
| 6 | Sinolink Securities | 1,587 | 2 | 6.0 |
| 7 | Guotai Junan Securities | 1,250 | 9 | 4.7 |
| 8 | Industrial Securities | 1,028 | 5 | 3.9 |
| 9 | Deutsche Bank | 1,024 | 5 | 3.9 |
| 10 | Huatai Securities | 949 | 4 | 3.6 |
Debt Capital Markets
Six issuers have tapped the G3 debt capital markets in Asia (ex Japan) for $3.0 billion so far this week, up slightly from the $2.5 billion raised in the same period last week.
The largest deal of the week is a $1.1 billion trade for China Development Bank Corp through bookrunners Deutsche Bank, ICBC, CCB, Bank of Communications, Bank of China and Credit Agricole.
The deal brings G3 SSA issuance bond volume has reached $7.4 billion so far this month, the highest monthly volume since $11.3 billion was raised in January.
HSBC leads the G3 DCM bookrunner ranking in 2016 YTD with $2.3 billion while Bank of America Merrill Lynch and Morgan Stanley follow with $1.7 billion and $909 million, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 2,258 | 11 | 14.5 |
| 2 | Bank of America Merrill Lynch | 1,687 | 5 | 10.9 |
| 3 | Morgan Stanley | 909 | 2 | 5.9 |
| 4 | Bank of China | 816 | 4 | 5.3 |
| 5 | TD Securities Inc | 810 | 1 | 5.2 |
| 6 | JPMorgan | 635 | 5 | 4.1 |
| 7 | Credit Suisse | 567 | 4 | 3.7 |
| 8 | Citi | 520 | 4 | 3.4 |
| 9 | CITIC Securities | 496 | 1 | 3.2 |
| 10 | Barclays | 449 | 4 | 2.9 |
