Equity capital markets
The Asian equity markets have raised $395 million during the past week through nine issues, down from the $3.1 billion seen last week, which brings year-to-date volume to $49.4 billion so far this year, up 11% year-on-year.
Anhui Fangxing Science & Technology’s $160 million follow-on through Guosen Securities was the largest deal of the week. Followed by Mingfeng Special Paper’s $73 million follow on through Southwest Securities.
Goldman Sachs continues to lead the league table ranking with $7 billion, followed by UBS and Morgan Stanley.
Debt capital markets
Seven issuers have tapped the Asian G3 capital markets for $6.6 billion during the past week in what is the second-busiest week so far this year behind the week of January 28 ($6.8 billion). Asian issuers have tapped the G3 markets for a total of $53.7 billion in 2013 year-to-date, up 21% on the $44.5 billion raised in the same 2012 period and marks the highest year-to-date level on record.
The biggest deal to complete last week was a $3 billion sovereign bond for the Republic of Indonesia through bookrunners Deutsche Bank, J.P. Morgan and Standard Chartered in what was the biggest G3 trade in the region in 2013 year-to-date and also the fourth-biggest G3 sovereign bond on record in Asia (ex Japan) and helps push J.P. Morgan up two notches in the league table ranking to third place.
The second-biggest deal of the week was a $2 billion trade for CNPC through bookrunners Citi, ICBC, Bank of America Merrill Lynch, Barclays, Bank of China, Credit Agricole, Deutsche Bank, HSBC, J.P. Morgan and Morgan Stanley. The deal marks the largest Chinese G3 trade so far this year and drives Chinese G3 bond volume to $14.9 billion in 2013 year-to-date, almost triple the $5.2 billion raised in the comparable 2012 period.
The top three banks remain unchanged with HSBC topping the league table ranking with $7.3 billion in 2013 year-to-date, followed by Standard Chartered and J.P. Morgan, respectively.