Equity Capital Markets
A total of $2.6 billion was raised from 31 issues in the equity capital markets this week, bringing volume for the year so far to $56.2 billion -- more than 3.5 times the amount raised in the same period last year and still at a record year-to-date level for the region.
The league table ranking remains unchanged with UBS leading the field on $4.3 billion, followed by J.P. Morgan on $3 billion and Goldman Sachs with $2.9 billion.
The biggest issue of the week was the $303 million A-share IPO for Tianjin Lisheng Pharmaceutical, which was led by Bohai Securities. Outside of the mainland, Videocon Industries raised $261 million from a fully marketed deal via bookrunners SBI Capital Markets and India Infoline.
Deals scheduled to price next week include a $208 million follow-on offering for Taihan Electric Wire led by bookrunners Daewoo Securities, Hana Bank and Tong Yang Securities.
Debt Capital Markets
The debt capital markets saw an uptick in deal activity this week with five trades totaling $2.2 billion -- the most active week since early February. This pushed volume for the year so far to $23 billion, which is a 35% year-on-year increase and also a record year-to-date level for Asia ex-Japan.
Deutsche Bank continues to head the league table ranking on $3 billion, followed by Barclays Capital with $2.6 billion and Citi on $2.1 billion.
Bank of China (Hong Kong)'s $900 million bond was the largest deal of the week and led by Barclays Capital, Deutsche Bank and UBS. Country Garden Holdings raised $550 million via bookrunners Goldman Sachs and J.P. Morgan.
Citi climbed up a notch in the rankings on the back of a $500 million trade for Hyundai Motor Manufacturing Czech, which it led together with Bank of America Merrill Lynch, Barclays Capital, Goldman Sachs and Nomura; and a $200 million bond for Export-Import Bank of India which it arranged together with Deutsche Bank.
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