Dealogic League Table Round-up May 12

Highest number of AT1 bonds priced in AeJ YTD since 2009

Equity Capital Markets

Asia (ex Japan) issuers have raised a total of $3.3bn through 33 deals this week, up 225% from the $1.0bn raised last week via 16 deals.

The largest deal of the week was a follow-on by Melco Resorts & Entertainment Limited for $336m via bookrunners Deutsche Bank, UBS, and Morgan Stanley.

This ECM transaction is the largest Asia (ex Japan) transaction in the Leisure & Recreation sector this YTD. Volume stands at $847m via 16 deals so far this year. Macao accounts for 68% of total volume with $573m via four deals so far in 2017, its highest YTD volume on record.

China International Capital Corp leads the ECM league table with $6.7 billion in 2017 YTD. CITIC Securities follows and Goldman Sachs leapfrogs into third with $6.3 billion and $4.5 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No. %share
1 China International Capital Corp Ltd 6,721 28 7.94
2 CITIC Securities 6,336 27 7.49
3 Goldman Sachs 4,547 15 5.37
4 China Securities Co Ltd 4,503 23 5.32
5 Guotai Junan Securities Co Ltd 4,120 25 4.87
6 UBS 3,588 16 4.24
7 Haitong Securities Ltd 3,430 28 4.05
8 Citi 2,862 22 3.38
9 Huatai Securities Co Ltd 2,685 11 3.17
10 Morgan Stanley 2,013 14 2.38

Debt Capital Markets

Eight Asian (ex Japan) issuers have tapped the G3 debt capital markets this week for a total of $6.6bn, up 213% on the $2.1bn issued last week via 3 deals.

The largest deal of the week is a $2.0bn USD-denominated investment-grade bond by PT Perusahaan Listrik Negara from Indonesia, via 2 bookrunners: HSBC and Citi.

In anticipation of the US Federal Reserve raising rates again, two banks in AeJ priced USD-denominated AT1 bonds this week, including Woori Bank in South Korea and Bank of East Asia in Hong Kong, for $500m each.  

HSBC leads the G3 DCM league table in 2017 YTD with $13.1bn. This is followed by Citi and Standard Chartered Bank with $10.9bn and $7.9bn, respectively.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD
  Bookrunner Deal Value ($m) No %share
1 HSBC 13,183 81 9.17
2 Citi 10,868 66 7.56
3 Standard Chartered Bank 7,879 50 5.48
4 JPMorgan 7,580 43 5.27
5 Deutsche Bank 7,160 39 4.98
6 Bank of China 6,301 50 4.38
7 Bank of America Merrill Lynch 5,108 34 3.55
8 Morgan Stanley 4,904 29 3.41
9 Goldman Sachs 4,825 21 3.36
10 UBS 4,561 33 3.17
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