Dealogic League Table Round-up September 30

G3 bond markets set new record in 2016 YTD

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
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