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|
|4||China Securities Co Ltd||4,503||23||5.32|
|5||Guotai Junan Securities Co Ltd||4,120||25||4.87|
|7||Haitong Securities Ltd||3,430||28||4.05|
|9||Huatai Securities Co Ltd||2,685||11||3.17|
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|
|3||Standard Chartered Bank||7,879||50||5.48|
|6||Bank of China||6,301||50||4.38|
|7||Bank of America Merrill Lynch||5,108||34||3.55|