Equity Capital Markets
Asia (ex Japan) issuers have raised $788 million through 12 deals so far this week, compared with $9.4 billion raised in the same period last week.
The largest deal of the week is a $572 million accelerate bookbuild by Malaysian company Sime Darby, through sole bookrunner Maybank. This is the second largest ECM deal priced in Malaysia so far in 2016, after Malaysia Building Society’s $711 million rights offer in July.
Southeast Asia ECM volume totals $11.0 billion (151 deals) so far this year, down 21% year on year and the lowest YTD level since 2005 ($9.5 billion, from 224 deals).
CITIC Securities leads the ECM league table ranking with $14.4 billion in 2016 YTD. Morgan Stanley and GF Securities complete the top three ranking with $11.3 billion and $11.0 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 14,400 | 54 | 7.3 |
| 2 | Morgan Stanley | 11,265 | 38 | 5.7 |
| 3 | GF Securities | 11,011 | 42 | 5.6 |
| 4 | Deutsche Bank | 8,164 | 33 | 4.1 |
| 5 | China Securities | 8,100 | 42 | 4.1 |
| 6 | Haitong Securities | 7,877 | 43 | 4.0 |
| 7 | China International Capital Corp | 7,617 | 30 | 3.9 |
| 8 | Guotai Junan Securities | 7,554 | 55 | 3.8 |
| 9 | Guosen Securities | 7,175 | 23 | 3.6 |
| 10 | Huatai Securities | 6,510 | 21 | 3.3 |
Debt Capital Markets
Four Asian issuers have tapped the G3 debt capital markets for a total of $2.2 billion, down from $12.2 billion raised from 21 deals in the same period last week.
The largest deal of the week is a $1.0 billion USD-denominated sovereign Islamic bond from Pakistan, through bookrunners Standard Chartered Bank, Deutsche Bank, Dubai Islamic Bank PJSC, Citi, and Noor Bank.
Islamic bond issuance from Asian issuers has reached $18.9 billion via 72 deals in 2016 YTD, compared with $14.8 billion from the same 2015 period and highest YTD volume on record.
HSBC leads the G3 bond league table in Asia (ex Japan) with $18.0 billion in 2016 YTD. Citi and Bank of America Merrill Lynch follow with $13.5 billion and $12.6 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 17,994 | 116 | 10.1 |
| 2 | Citi | 13,494 | 87 | 7.6 |
| 3 | Bank of America Merrill Lynch | 12,562 | 72 | 7.1 |
| 4 | JP Morgan | 10,065 | 61 | 5.7 |
| 5 | Standard Chartered Bank | 8,721 | 62 | 4.9 |
| 6 | Bank of China | 8,009 | 53 | 4.5 |
| 7 | Deutsche Bank | 6,816 | 38 | 3.8 |
| 8 | Goldman Sachs | 6,344 | 27 | 3.6 |
| 9 | BNP Paribas | 6,324 | 40 | 3.6 |
| 10 | Barclays | 5,401 | 31 | 3.0 |
