Dealogic League Table Round-up May 27

The G3 bond markets comes back to life.

Equity Capital Markets

Asia (ex Japan) issuers have raised $2.5 billion through 21 deals so far this week, down slightly on the $3.7 billion last week.

The largest deal of the week is Chongqing New Century Cruise’s $764 million follow-on through sole book Haitong Securities. The deal is also the largest Transport sector ECM transaction globally so far this year.

This deal brings A-share ECM issuance to $60.8 billion so far this year, up 34% year-on-year. Despite the increase, overall Asia (ex Japan) ECM volume is down 28% during the same period to $84.5 billion.

CITIC Securities continues its lead in the league table ranking with $6.6 billion in 2016 YTD. Followed  by GF Securities and Huatai Securities with $6.3 billion and $4.6 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD
  Bookrunner Deal Value ($m) No. %share
1 CITIC Securities 6,595 26 7.8
2 GF Securities Co Ltd 6,327 23 7.5
3 Huatai Securities Co Ltd 4,580 14 5.4
4 Haitong Securities Ltd 4,448 21 5.3
5 Guosen Securities Co Ltd 3,440 12 4.1
6 Southwest Securities Co Ltd 3,237 16 3.8
7 Guotai Junan Securities Co Ltd 3,205 22 3.8
8 Morgan Stanley 3,093 18 3.7
9 China International Capital Corp Ltd 2,996 11 3.6
10 Deutsche Bank 2,782 15 3.3

Debt Capital Markets

11 issuers have tapped the G3 debt capital markets so far this week raising a total of $10.6 billion, up from just $3.7 billion in the same period last week and the highest weekly issuance in almost a month (week of April 18th with $11.6 billion)

The increase was driven by Chinese issuers with $9.9 billion through eight deals, the highest weekly total since November 17th ($10.6 billion through four deals). China Development Bank Corp’s $2.7 billion trade is the largest deal of the week and is also the sixth biggest G3 trade in the region so far this year.

Notably, Axis Bank raised $500m in green bonds this week and pushes global green bond to $22.2 billion, almost double $12.7 billion.

HSBC remains at top of the G3 bond league table in Asia (ex Japan) with $10.0 billion. Bank of America Merrill Lynch and Citi follow with $7.3 billion and $7.0 billion, respectively.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 10,050 56 11.1
2 Bank of America Merrill Lynch 7,281 30 8.1
3 Citi 7,008 37 7.8
4 JPMorgan 5,151 29 5.7
5 Standard Chartered Bank 4,562 24 5.1
6 Bank of China 3,813 19 4.2
7 BNP Paribas 3,533 17 3.9
8 Deutsche Bank 3,297 17 3.7
9 Morgan Stanley 3,017 15 3.3
10 Goldman Sachs 2,954 12 3.3
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