Equity Capital Markets
Asia (ex Japan) issuers have raised $7.3 billion through 37 deals so far this week, half the $14.6 billion raised in the same period last week.
The largest deal of the week is CPT Technology (Group)’s $1.5 billion private placement through bookrunners Guosen Securities and Industrial Securities.
China Merchant Securities is also slated to complete its estimated $1.4 billion listing today. If priced successfully, the deal will be the third largest new listing from a Chinese issuer this year.
Chinese issuers have so far raised $161.5 billion so far this year, up 11% year-on-year. In contrast, overall Asia (ex Japan) ECM volume has dropped 4% during the same period to $194.3 billion.
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 $11.2 billion and $10.9 billion, respectively.
*New listings include both primary and secondary listings
| Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 14,400 | 54 | 7.4 |
| 2 | Morgan Stanley | 11,192 | 37 | 5.8 |
| 3 | GF Securities | 10,933 | 40 | 5.6 |
| 4 | Deutsche Bank | 8,076 | 31 | 4.2 |
| 5 | China Securities | 8,028 | 41 | 4.1 |
| 6 | Haitong Securities | 7,871 | 42 | 4.1 |
| 7 | China International Capital Corp | 7,617 | 30 | 3.9 |
| 8 | Guotai Junan Securities | 7,475 | 53 | 3.9 |
| 9 | Guosen Securities | 7,175 | 23 | 3.7 |
| 10 | Huatai Securities | 6,438 | 20 | 3.3 |
Debt Capital Markets
18 Asian issuers have tapped the G3 debt capital markets for a total of $10.5 billion, compared with $9.4 billion raised in the same period last week and brings YTD issuance to $173.4 billion, the highest YTD total on record and up 8% year-on-year.
The largest deal of the week is ICBCIL Finance’s a $1.4 billion dual tranche trade through bookrunners JPMorgan, Goldman Sachs, BNP Paribas, ICBC, Bank of Communications, Shanghai Pudong Development Bank and Citi.
Chinese issuers lead G3 issuance in the region with $87.4 billion so far this year, narrowly surpassing the previous record set in 2015 YTD ($84.6 billion).
HSBC leads the G3 bond league table in Asia (ex Japan) with $17.6 billion 2016 YTD. Citi and Bank of America Merrill Lynch follow with $12.7 billion and $12.6 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 17,578 | 115 | 10.1 |
| 2 | Citi | 12,670 | 82 | 7.3 |
| 3 | Bank of America Merrill Lynch | 12,562 | 72 | 7.2 |
| 4 | JPMorgan | 9,965 | 60 | 5.8 |
| 5 | Standard Chartered Bank | 8,396 | 60 | 4.8 |
| 6 | Bank of China | 8,009 | 53 | 4.6 |
| 7 | Deutsche Bank | 6,516 | 36 | 3.8 |
| 8 | BNP Paribas | 6,175 | 38 | 3.6 |
| 9 | Goldman Sachs | 5,928 | 26 | 3.4 |
| 10 | Barclays | 5,401 | 31 | 3.1 |
