Dealogic League Table Round-up, September 15

Slow week for both the equity capital markets and debt capital markets amid holiday lull

Equity Capital Markets

Total ECM issuance by Asia (ex Japan) issuers has dropped to $2.7 billion through 19 deals so far this week , from $8.2 billion raised in the same period last week.

The largest deal this week is Xian Longi Silicon Materials Corp’s $446 million follow-on through sole bookrunner Guosen Securities. The deal is also the tenth largest follow-on from a Chinese Tech firm so far this year.

Chinese Tech firms have raised $29.7 billion so far this year through the equity capital markets, almost triple the $11.1 billion raised in the same period last year.

CITIC Securities continues to lead the league table ranking with $13.7 billion in 2016 YTD. Morgan Stanley and GF Securities follow with $10.8 billion and $9.1 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD
  Bookrunner Deal Value ($m) No. %share
1 CITIC Securities 13,750 48 8.0
2 Morgan Stanley 10,771 36 6.3
3 GF Securities 9,148 36 5.4
4 Deutsche Bank 7,429 27 4.4
5 Guotai Junan Securities 7,149 50 4.2
6 China Securities 7,004 37 4.1
7 Haitong Securities 6,882 38 4.0
8 China International Capital Corp 6,544 26 3.8
9 Huatai Securities 6,438 20 3.8
10 Guosen Securities 5,604 19 3.3

Debt Capital Markets

Four Asian issuers have tapped the G3 debt capital markets for a total of $3.3 billion, less than half te $7.3 billion raised in the prior week.

Industrial Bank’s $1.0 billion dual tranche trade through a consortium of 10 bookrunners is the largest deal of the week. This is the issuer’s first foray into the USD-denominated market and is the sixth largest G3 bond by a Chinese bank so far this year.

Chinese banks’ have tapped the G3 bond markets for a total of $20.9 billion so far this year, the highest total on record, narrowly surpassing the $20.7 billion raised in the same period last year.

HSBC continues its lead in the in the G3 bond league table in Asia (ex Japan) with $15.3 billion. Citi and Bank of America Merrill Lynch follow with $11.2 billion and $11.1 billion, respectively.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 15,323 103 10.0
2 Citi 11,193 72 7.3
3 Bank of America Merrill Lynch 11,134 63 7.3
4 JPMorgan 8,219 50 5.4
5 Standard Chartered Bank 7,952 55 5.2
6 Bank of China 7,108 48 4.6
7 Deutsche Bank 6,066 34 4.0
8 Barclays 5,244 30 3.4
9 BNP Paribas 5,136 31 3.4
10 Morgan Stanley 4,504 33 2.9
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