Dealogic League Table Round-up Oct 13

Asia (ex-Japan) additional tier one bonds volume reaches record high.

Equity Capital Markets

Asia (ex-Japan) ECM volume stands at $2.0bn via 23 deals this week (12 IPO and 11 follow-ons), compared to the $697m via 13 deals completed last week.

On Oct 11, Chinese issuer Caitong Securities completed a $620m IPO via CITIC Securities and UBS, this is the largest Asia (ex-Japan) ECM transaction this week.

Shanghai Stock Exchange ECM volume stands $54.3bn via 240 deals so far this year, down from $62.0bn via 193 deals in 2016 YTD. Follow-On accounts for 60% of total volume with $32.4bn via 68 deals so far in 2017, down from the $47.5bn raised in the same period last year.

CITIC Securities leads the ECM league table with $10.2bn in 2017 YTD, followed by China International Capital Corp with $8.9bn and Goldman Sachs is third with $8.4bn.

 

  Pos. Bookrunner Deal Value ($m) No. %share
  1 CITIC Securities 10,183.8 64 5.96
  2 China International Capital Corp 8,880.4 42 5.2
  3 Goldman Sachs 8,364.7 36 4.9
  4 Citi 7,240.0 51 4.24
  5 Guotai Junan Securities  6,707.6 46 3.93
  6 UBS 6,191.9 31 3.62
  7 China Securities  6,137.8 37 3.59
  8 Morgan Stanley 5,986.6 35 3.5
  9 Haitong Securities  5,200.4 54 3.04
  10 Huatai Securities  4,542.5 29 2.66

Debt Capital Markets

Asia (ex-Japan) G3 issuance surged to $3.6bn via 5 deals this week, up from $692m via 3 deals raised last week.

Two additional tier one bonds were priced this week. Bank of Zhengzhou’s $1.2bn and UOB’s 650m USD-denominated bond. The former deal is also a preferred share via a consortium of 24 bookrunners and it is the first USD-denominated bond by the issuer. Additional tier one issuance reached $15.0bn in the international market this year, up from $7.5bn raised in the same period last year and reaching highest YTD volume on record.

On October 12, 2017, Haier Group priced a $1.0bn USD-denominated bond via a consortium of 10 bookrunners. This is the first time the issuer tapped the market and the second largest deal priced this week behind Bank of Zhengzhou’s 1.2bn 2022 issue.

HSBC leads the G3 DCM league table in 2017 YTD with $22.6bn. This is followed by Citi with $18.1bn and Standard Chartered Bank with $13.8bn.

 

  Pos. Bookrunner Deal Value ($m) No. %share
  1 HSBC 22,590.1 163 8.37
  2 Citi 18,053.8 125 6.69
  3 Stndard Chartered Bank 13,765.2 104 5.1
  4 Bank of China 12,674.2 108 4.69
  5 JPMorgan 12,341.0 85 4.57
  6 Deutsche Bank 12,135.6 70 4.5
  7 Bank of America Merrill Lynch 11,378.3 71 4.21
  8 Goldman Sachs 9,480.4 47 3.51
  9 BNP Paribas 9,356.2 63 3.47
  10 UBS 9,060.4 79 3.36

 

 
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