Equity Capital Markets
Asia (ex Japan) issuers have raised a total of $4.0 billion through 38 deals this week, up from the $3.9 billion raised last week via 41 deals.
The largest deal of the week is China Railway Hi-tech Industry Corp’s follow-on for $872 million via bookrunners Morgan Stanley, UBS, Bank of China, TF Securities, and China International Capital Corp.
This is followed by another follow-on by India’s Yes Bank for $754 million via bookrunners CITIC Securities, Bank of America Merrill Lynch, IIFL Holdings, and Motilal Oswal Financial Services.
China International Capital Corp leads the ECM league table with $5.5 billion in 2017 YTD. CITIC Securities and Goldman Sachs follow with $5.5 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 | 5,547 | 18 | 9.6 |
| 2 | CITIC Securities | 5,534 | 21 | 9.5 |
| 3 | Goldman Sachs | 3,615 | 8 | 6.2 |
| 4 | China Securities Co Ltd | 3,439 | 19 | 5.9 |
| 5 | Guotai Junan Securities Co Ltd | 3,324 | 18 | 5.7 |
| 6 | Haitong Securities Ltd | 3,060 | 23 | 5.3 |
| 7 | UBS | 2,833 | 10 | 4.9 |
| 8 | Huatai Securities Co Ltd | 2,279 | 9 | 3.9 |
| 9 | Bank of China | 1,576 | 10 | 2.7 |
| 10 | Morgan Stanley | 1,430 | 7 | 2.5 |
Debt Capital Markets
14 Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $8.5 billion, down 15% from the $10.1 billion issued last week via 15 deals.
The largest deal of the week is a $2.0 billion USD-denominated investment grade corporate bond by China’s ICBCIL Finance, a subsidiary of Industrial & Commercial Bank of China – ICBC, via bookrunners Standard Chartered Bank, JPMorgan, Goldman Sachs, BNP Paribas, Industrial & Commercial Bank of China – ICBC, Bank of Communications, China Merchants Bank, and Bank of China.
Asia G3 DCM volume has reached $99.7 billion so far this year, more than double the $44.9 billion issued in the same year last year. China continues to lead the volume with $56.4 billion, followed by Philippines and South Korea with $11.5 billion and $8.8 billion, respectively.
HSBC leads the G3 DCM league table in 2017 YTD with $8.4 billion. This is followed by Citi and JPMorgan with $6.1 billion and $6.0 billion.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 8,431 | 56 | 8.5 |
| 2 | Citi | 6,072 | 37 | 6.1 |
| 3 | JPMorgan | 6,033 | 33 | 6.1 |
| 4 | Standard Chartered Bank | 6,012 | 34 | 6.0 |
| 5 | Bank of China | 4,461 | 33 | 4.5 |
| 6 | Deutsche Bank | 3,970 | 23 | 4.0 |
| 7 | Goldman Sachs | 3,917 | 17 | 3.9 |
| 8 | Bank of America Merrill Lynch | 3,843 | 26 | 3.9 |
| 9 | Morgan Stanley | 3,713 | 22 | 3.7 |
| 10 | Barclays | 2,815 | 16 | 2.8 |
