Dealogic League Table Round-up Jun 1

South Korea ECM volume at highest level since 2010.

Equity Capital Markets

Asia (ex Japan) ECM volume stands at $3.0bn via 23 deals so far this week (four IPOs, 14 follow-ons and five convertible), compared to the $6.1bn via 26 deals completed in the previous week.

On May 30, Korean issuer Samsung Electronics completed a $1.2bn follow-on via JP Morgan and Goldman Sachs as bookrunners. South Korea ECM volume in 2018 YTD reached $9.3bn via 57 deals, highest level since 2010 ($9.4bn). On a year-on-year comparison, the volume jumped 33% from $7.0bn via 62 deals.

Nine Asia (ex Japan) ECM transactions are expected to price next week (five IPOs and four follow-ons), for an estimated total of $708m. The largest expected deal is Del Monte Philippines' $341m IPO via BDO Capital & Investment Corp as bookrunner.

Goldman Sachs took over the first place in the ECM league table with $10.0bn this YTD, Citi follows this with $9.4bn, and Morgan Stanley is the third with $7.4bn.

Asia (ex Japan) ECM Bookrunner Rankings - 2018 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 Goldman Sachs 9,971.5 33 8.98
2 Citi 9,376.0 42 8.44
3 Morgan Stanley 7,369.5 25 6.64
4 China International Capital Corp Ltd 6,725.3 16 6.06
5 China Securities Co Ltd 6,483.6 21 5.84
6 Bank of America Merrill Lynch 5,384.7 11 4.85
7 CITIC Securities 4,868.4 27 4.38
8 Credit Suisse 4,737.0 32 4.27
9 Huatai Securities Co Ltd 3,723.2 16 3.35
10 UBS 2,901.7 19 2.61
SOURCE: Dealogic

Debt Capital Markets

Asian (ex Japan) G3 DCM deal volume stands at $3.9bn (7 deals) so far this week, down 49% from the $7.6bn (15 deals) raised last week.

The largest deal of the week goes to Bank of China Ltd (London) priced a $1.0bn corporate bond with Bank of America Merrill Lynch, Bank of China, BNP Paribas, Citi, Commerzbank, Credit Agricole CIB, and HSBC as bookrunners. This is a green bond used for mixture of renewable energy, sustainable waste management, clean transportation, and sustainable waste management.

Asia (ex Japan) G3 green bond volume is at record high level with $7.2bn, fourfold increase from the $1.8bn raised in the previous year same period. Number of such deals also more than doubled from 4 deals last YTD to 10 deals this YTD.

HSBC leads Asia (ex Japan) G3 DCM league table in 2018 YTD with $11.2bn, Citi follows it with $8.4bn, and Bank of China is the third with $7.4bn.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2018 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 HSBC 11,186.8 91 7.73
2 Citi 8,402.6 59 5.81
3 Bank of China 7,389.9 76 5.11
4 Standard Chartered Bank 5,650.8 52 3.90
5 Goldman Sachs 5,469.6 25 3.78
6 JPMorgan 5,442.9 28 3.76
7 Bank of America Merrill Lynch 5,077.1 33 3.51
8 BNP Paribas 4,854.8 37 3.35
9 Deutsche Bank 4,551.7 38 3.15
10 Morgan Stanley 4,535.1 35 3.13
SOURCE: Dealogic

 

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