Equity Capital Markets
Asia (ex Japan) issuers have raised a total of $2.2 billion through 33 deals this week, compared to the $3.6 billion raised last week via 33 deals.
The largest deal of the week is Korean Airlines’ follow-on for $397 million via bookrunner Korea Investment & Securities.
Asia (ex Japan) ECM volume totals to $40.8 billion in 2017 YTD, almost on par year-on-year with $41.9 billion in 2016. Deal activity, on the other hand, has increased to 342 deals from 268 deals in the same period last year.
China International Capital Corp leads the ECM league table with $4.1 billion in 2017 YTD. CITIC Securities and Goldman Sachs follow with $3.5 billion and $2.9 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | China International Capital Corp Ltd | 4,060 | 9 | 10.0 |
| 2 | CITIC Securities | 3,469 | 14 | 8.5 |
| 3 | Goldman Sachs | 2,890 | 7 | 7.1 |
| 4 | Haitong Securities Ltd | 2,885 | 17 | 7.1 |
| 5 | Guotai Junan Securities Co Ltd | 2,789 | 13 | 6.8 |
| 6 | China Securities Co Ltd | 2,452 | 16 | 6.0 |
| 7 | UBS | 1,663 | 6 | 4.1 |
| 8 | Huatai Securities Co Ltd | 1,501 | 5 | 3.7 |
| 9 | Bank of China | 1,381 | 7 | 3.4 |
| 10 | Deutsche Bank | 1,272 | 8 | 3.1 |
Debt Capital Markets
Nine Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $7.7 billion, down 24% compared to the $10.2 billion issued last week via 17 deals.
The largest deal of the week is a $3.1 billion USD and Euro-denominated non-US agency deal by Export-Import Bank of China via bookrunners ING, Barclays, Bank of Communications, Koos Group, Mitsubishi UFJ Financial Group, Bank of China, Westpac, and Credit Agricole CIB.
This deal is followed by Lenovo Group’s $1.4 billion USD-denominated investment grade corporate bond via a consortium of 14 bookrunners.
HSBC leads the G3 DCM league table in 2017 YTD with $6.3 billion, followed by JPMorgan and Citi with $4.9 billion and $4.8 billion.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 6,282 | 44 | 8.6 |
| 2 | JPMorgan | 4,949 | 27 | 6.8 |
| 3 | Citi | 4,795 | 28 | 6.6 |
| 4 | Standard Chartered Bank | 3,806 | 26 | 5.2 |
| 5 | Bank of China | 3,485 | 24 | 4.8 |
| 6 | Morgan Stanley | 3,157 | 17 | 4.3 |
| 7 | Deutsche Bank | 2,938 | 20 | 4.0 |
| 8 | Bank of America Merrill Lynch | 2,680 | 18 | 3.7 |
| 9 | Goldman Sachs | 2,657 | 12 | 3.7 |
| 10 | Barclays | 2,520 | 12 | 3.5 |
