Dealogic League Table Round-up Nov 3

Asia ex-Japan international Metal & Steel DCM volume highest on record

Equity Capital Markets

Asia (ex-Japan) ECM volume saw an increase of 36% to $8.8bn via 38 deals this week from the previous week ($6.5bn via 42 deals).

On October 31, China Literature completed a $1.1bn IPO via a consortium of 11 bookrunners, this is the second largest Asia (ex-Japan) ECM transaction this week, behind SDIC Essence’s 1.2bn follow-on via Zhongtai Securities and Guotai Junan Securities.

Asia (ex-Japan) Technology ECM volume stands at $31.9bn via 333 deals so far this year, down from the $39.4bn via 300 deals in 2016 YTD. China accounts for 67% of the total issuance with $21.4bn via 157 deals in 2017 YTD. This is followed by South Korea and Taiwan with $3.8bn and $3.6bn, respectively.

CITIC Securities leads the ECM league table with $12.4bn in 2017 YTD, followed by China Securities Co Ltd by $9.7bn and China International Capital Corp Ltd is third with $9.3bn.

Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 CITIC Securities 12,357.0 72 6.21
2 China Securities Co Ltd 9,686.4 45 4.87
3 China International Capital Corp Ltd 9,327.1 45 4.69
4 Goldman Sachs 9,123.0 38 4.59
5 Citi 8,617.1 58 4.33
6 Guotai Junan Securities Co Ltd 8,084.5 49 4.06
7 Morgan Stanley 7,825.6 44 3.93
8 UBS 6,808.7 35 3.42
9 Deutsche Bank 5,849.6 38 2.94
10 Haitong Securities Ltd 5,551.8 56 2.79
SOURCE: Dealogic

Debt Capital Markets

Asia (ex-Japan) G3 issuance volume stands at $8.5bn via 11 deals this week, maintained similar level of G3 issuance ($8.9bn, 11 deals) from the previous week.

On October 31, China Huarong Asset Management priced a $3.393bn USD-denominated bond via a consortium of 24 bookrunners. This is the largest deal in the region for the week, and it featured a keepwell agreement. It also is the second largest deal priced among the four China AMCs (Asset Management Companies) in history, behind its $3.399bn USD-denominated bond priced on April this year.

On November 1, China Minmetals Corp priced a $1bn USD-denominated perpetual bond via a consortium of 10 bookrunners. This marked the largest transaction priced by the company and the first direct issuance by the company. Asia ex-Japan international Metal & Steel DCM market recorded $6.5bn via 10 deals this year-to-date. This marked the highest year-to-date volume on record surpassing the previous record set in 2013 with 5.5bn.

HSBC leads the G3 DCM league table in 2017 YTD with $24.4bn, followed by Citi with $20.5bn and Standard Chartered Bank with $15.2bn.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 HSBC 24,370.2 177 8.28
2 Citi 20,505.3 140 6.97
3 Standard Chartered Bank 15,172.4 112 5.16
4 Bank of China 14,438.0 120 4.91
5 JPMorgan 13,491.5 93 4.58
6 Deutsche Bank 13,027.0 76 4.43
7 Bank of America Merrill Lynch 12,389.2 75 4.21
8 BNP Paribas 10,482.9 68 3.56
9 Goldman Sachs 9,838.9 50 3.34
10 UBS 9,348.6 82 3.18
SOURCE: Dealogic
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