Dealogic League Table Round-up June 17

Asia (ex Japan) Chemicals ECM at highest YTD level on record.

Equity Capital Markets

A total of $2.2 billion has been raised in the equity capital markets so far this week through 23 deals, down from the $4.1 billion raised in the same period last week.

The largest deal of the week is Tongkun Group’s $457 million follow-on through sole bookrunner Citic Securities and brings Asia (ex Japan) Chemicals sector ECM volume to $6.0 billion so far this year, the third consecutive YTD increase and the highest YTD volume on record.

Asia (ex Japan) ECM volume has reached $100.3 billion so far this year, down 30% from $144.1 billion raised last YTD. Chinese issuance accounts for 82% of the total volume, marking the highest percentage on record.

Citic Securities is leading the ECM bookrunner ranking with $7.2 billion in 2016 YTD, while Morgan Stanley and GF Securities follow with $7.1 billion and $6.7 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD
  Bookrunner Deal Value ($m) No. %share
1 CITIC Securities 7,209 28 7.2
2 Morgan Stanley 7,125 24 7.1
3 GF Securities Co Ltd 6,711 26 6.7
4 Deutsche Bank 6,467 20 6.5
5 Southwest Securities Co Ltd 4,672 19 4.7
6 Huatai Securities Co Ltd 4,580 14 4.6
7 Haitong Securities Ltd 4,450 22 4.4
8 Guotai Junan Securities Co Ltd 3,543 26 3.5
9 Guosen Securities Co Ltd 3,440 12 3.4
10 Citi 3,026 18 3.0

Debt Capital Markets

Five issuers have tapped the Asia (ex Japan) G3 debt capital markets so far this week for a total of $2.8 billion, down from $8.9 billion raised in the previous week.

Republic of Indonesia’s $943 million trade through bookrunners Mizuho, Sumitomo Mitsui Financial Group and Morgan Stanley is the largest deal of the week. This is also the fourth largest Samurai bond priced by an Asian issuer, behind Export-Import Bank of Korea’s $1.3 billion and $994 million issuance in May 2012 and June 2011 and also Republic of the Philippines’s $1.0 billion Samurai bond priced in February 2010.

G3 issuance in the region has reached $105.6 billion, down slightly on the $116.4 billion raised in the same period last year.

HSBC remains at the top of the league table with $10.9 billion while Bank of America Merrill Lynch and Citi follow with $7.9 billion and $7.7 billion respectively. 

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 10,921 63 10.5
2 Bank of America Merrill Lynch 7,925 34 7.6
3 Citi 7,727 42 7.4
4 JPMorgan 6,288 32 6.0
5 Standard Chartered Bank 4,612 25 4.4
6 Bank of China 4,356 23 4.2
7 Deutsche Bank 4,288 20 4.1
8 Barclays 3,801 17 3.6
9 BNP Paribas 3,768 19 3.6
10 Goldman Sachs 3,465 14 3.3
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