Dealogic League Table Round-up Nov 10

Indian issuers spurring Asia ex-Japan Insurance Sector ECM volume

Equity Capital Markets

Asia (ex-Japan) ECM volume decreased slightly this week from $9.1bn to $8.7bn via 31 deals this week.

The largest ECM transaction in Asia (ex Japan) this week was an IPO by New India Assurance Co Ltd in India, valued at $1.48bn.

Four Indian insurance companies have conducted IPOs so far this year, raising a total of $5.4bn. Indian ECM volume currently sits at $25.3bn, the record for a full year was noted in 2010 at $25.5bn. Total Indian IPO volume this year is now $10.2bn, which is a record ($8.8bn in 2008 full year).

Asia (ex Japan) Insurance sector ECM volume stands at $9.9bn YTD, up significantly from $2.4bn in the same 2016 period. India accounts for 58% of the total issuance with $5.7bn in 2017 YTD, followed by Hong Kong and South Korea with 26% ($2.6bn) and 15% ($1.5bn) respectively.

CITIC Securities leads the ECM league table with $12.6bn in 2017 YTD, followed by China Securities Co Ltd by $9.8bn and Goldman Sachs climbs back to third with $9.6bn.

Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 CITIC Securities 12,550.0 74 6.04
2 China Securities Co Ltd 9,847.3 46 4.74
3 Goldman Sachs 9,568.4 40 4.6
4 China International Capital Corp Ltd 9,564.8 48 4.6
5 Citi 8,650.8 59 4.16
6 Guotai Junan Securities Co Ltd 8,536.7 50 4.11
7 UBS 8,371.8 37 4.03
8 Morgan Stanley 7,859.2 45 3.78
9 Deutsche Bank 5,849.6 38 2.81
10 Haitong Securities Ltd 5,591.5 57 2.69
 
SOURCE: Dealogic

Debt Capital Markets

Asia (ex-Japan) G3 issuance volume is down this week to $5bn via 10 deals from $9.7bn during the previous week.

On November 9, China Development Bank Corp priced a $1.2bn EUR-denominated bond via a consortium of 9 bookrunners. The deal is the first green bond priced by the issuer in the international market.

Green bond issuance has reached $10.2bn in the Asia (ex Japan) international market this YTD, up from $9.3bn raised in the same 2016 period. This marks the highest YTD volume for green bonds on record.

HSBC leads the G3 DCM league table in 2017 YTD with $24.7bn, followed by Citi with $20.9bn and Standard Chartered Bank with $15.6bn.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 HSBC 24,684.9 181 8.21
2 Citi 20,934.2 143 6.97
3 Standard Chartered Bank 15,649.4 116 5.21
4 Bank of China 14,731.9 124 4.9
5 JPMorgan 13,875.0 96 4.62
6 Deutsche Bank 13,490.1 80 4.49
7 Bank of America Merrill Lynch 12,539.2 76 4.17
8 BNP Paribas 10,721.6 70 3.57
9 Goldman Sachs 9,993.8 52 3.33
10 UBS 9,451.1 85 3.15
 
SOURCE: Dealogic

 

¬ Haymarket Media Limited. All rights reserved.