Dealogic League Table Round-up Mar 17

Asia Equity Capital Markets picks up this week with volume more than triple of last week

Equity Capital Markets

Asia (ex Japan) issuers have raised a total of $8.3 billion through 26 deals this week, more than triple the $2.4 billion raised last week via 47 deals.

The largest deal of the week is China Everbright Bank’s convertible bond issuance for $4.3 billion via bookrunners, CITIC Securities, China International Capital Corp, UBS, Morgan Stanley, Everbright Securities, and Goldman Sachs.

This is followed by another over $1 billion deal: Air China’s $1.6 billion follow-on via bookrunners China Securities and CITIC Securities.

China International Capital Corp leads the ECM league table with $5.0 billion in 2017 YTD. CITIC Securities and Goldman Sachs follow with $5.0 billion and $3.6 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No. %share
1 China International Capital Corp Ltd 5,016 11 10.2
2 CITIC Securities 5,006 16 10.2
3 Goldman Sachs 3,615 8 7.3
4 China Securities Co Ltd 3,264 17 6.6
5 Guotai Junan Securities Co Ltd 3,097 15 6.3
6 Haitong Securities Ltd 2,936 18 6.0
7 UBS 2,387 7 4.8
8 Huatai Securities Co Ltd 1,501 5 3.0
9 Bank of China 1,381 7 2.8
10 Citi 1,297 12 2.6

Debt Capital Markets

Eight Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $4.4 billion, compared to the $9.6 billion issued last week via 12 deals.

The largest deal of the week is a $2.0 billion USD-denominated investment grade corporate bond by Azure Nova International Finance via bookrunners Haitong Securities, Standard Chartered Bank, JPMorgan, HSBC, ANZ, Bank of Communications, and China International Capital Corp.

Asia (ex Japan) G3 DCM volume totals to $181.3 billion so far this year, down 29% from $254.4 billion in 2016 YTD. Deal activity is also down from 1,213 deals in the same period last year to 758 deals in 2017 YTD.

HSBC leads the G3 DCM league table in 2017 YTD with $6.7 billion, followed by JPMorgan and Citi with $5.4 billion and $5.0 billion.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 6,661 46 8.4
2 JPMorgan 5,365 29 6.8
3 Citi 4,995 30 6.3
4 Standard Chartered Bank 4,431 28 5.6
5 Bank of China 3,860 27 4.9
6 Morgan Stanley 3,533 19 4.5
7 Goldman Sachs 2,990 13 3.8
8 Deutsche Bank 2,938 20 3.7
9 Bank of America Merrill Lynch 2,775 19 3.5
10 Barclays 2,721 14 3.4
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