Dealogic League Table Round-up June 2

Republic of Indonesia taps Asia ex Japan bond markets after upgrade

Equity Capital Markets

Asia (ex Japan) issuers have raised a total of $930m through 15 deals this week, down 63% on the $2.5bn raised last week via 31 deals.

The largest deal of the week was Zhejiang JiHua Group Co Ltd for $252m via sole bookrunner Essence Securities Co Ltd.

This is the largest Asia (ex Japan) IPO transaction in the Chemicals sector this YTD. Asia (ex Japan) Chemicals ECM volume totals $3.7bn via 50 deals in 2017 YTD, down from $4.0bn via 30 deals in 2016 YTD. IPO accounts for $33% of total with $1.2bn via 29 deals in 2017 YTD, up significantly from $141m raised in the same 2016 period and the highest YTD volume since 2011 ($3.6bn).

CITIC Securities leads the ECM league table with $6.9bn in 2017 YTD, followed by China International Capital Corp with $6.7bn and Goldman Sachs is third with $5.4bn.

Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No. %share
1 CITIC Securities 6,893.2 33 7.31
2 China International Capital Corp Ltd 6,746.4 29 7.15
3 Goldman Sachs 5,353.0 18 5.68
4 China Securities Co Ltd 4,865.0 27 5.16
5 Guotai Junan Securities Co Ltd 4,406.3 29 4.67
6 UBS 3,587.7 16 3.8
7 Haitong Securities Ltd 3,542.2 31 3.76
8 Morgan Stanley 3,352.2 19 3.55
9 Citi 2,978.1 23 3.16
10 Huatai Securities Co Ltd 2,721.9 12 2.89

Debt Capital Markets

Six Asian (ex Japan) issuers have raised the G3 debt capital markets this week for a total of $4.0bn via 6 deals, down 47% on the $7.5bn issued last week via 14 deals.

The largest deal of the week was a $1.7bn USD-denominated bond priced by Asian Development Bank via a consortium of bookrunners.

On May 31, 2017, Republic of Indonesia priced a $898m bond this week via bookrunner Mizuho, Nomura and Sumitomo Mitsui Financial Group. It is the first deal priced after its credit rating upgrade and also the first time the issuer has tapped the Samurai market this year.

HSBC leads the G3 DCM league table in 2017 YTD with $14.7bn. This is followed by Citi with $12bn and Standard Chartered Bank with $8.9bn.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 14,733.8 90 9.14
2 Citi 12,103.3 78 7.51
3 Standard Chartered Bank 8,850.4 56 5.49
4 Deutsche Bank 8,089.5 42 5.02
5 JPMorgan 7,850.5 47 4.87
6 Bank of China 7,077.3 58 4.39
7 Bank of America Merrill Lynch 6,399.9 39 3.97
8 Morgan Stanley 5,216.5 33 3.24
9 Goldman Sachs 5,129.0 24 3.18
10 UBS 4,873.1 36 3.02
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