Equity Capital Markets
A total of $892 million has been raised in the Asian equity capital markets so far this week through eight deals, down from the $2.1 billion raised in the same period last week, bringing year-to-date issuance to $52.3 billion, down 3% year-on-year.
The largest deal this week was a $310 million IPO for Pacc Offshore Services Holdings through bookrunners Bank of America Merrill Lynch, DBS and OCBC. The deal is also the biggest ECM transaction from a Singaporean issuer in 2014 YTD.
Singapore accounts for 19% of Southeast Asia ECM volume with $1.1 billion in 2014 YTD, down from the $4.2 billion raised in the same 2013 period.
Weibo Corp also priced a $286 million IPO through bookrunners Goldman Sachs and Credit Suisse and is the biggest tech IPO in the region in 2014 YTD
The tech sector leads Asia ex-Japan ECM issuance with a record $12.8 billion so far this year, more than quadruple the $3.9 billion raised in the comparable 2013 period.
Goldman Sachs continues to lead the league table ranking with $4.3 billion, followed by China Securities and Credit Suisse.
Debt Capital Markets
Five issuers have tapped the Asia ex-Japan G3 bond markets for $2.7 billion, down from the $8.2 billion raised in the same period last week, pushing the regional G3 issuance to a record $61.4 billion in 2014 YTD, up 6% year-on-year.
KT Corp’s $1.0 billion trade was the largest deal this week through bookrunners Goldman Sachs, Deutsche Bank, HSBC, Citi and BofA Merrill.
South Korean issuers have tapped the G3 capital markets for a total of $12.2 billion in 2014 YTD, surpassing the previous record of $11.3 billion raised in 2011 YTD and more than double the $5.1 billion raised in the comparable period last year.
HSBC has taken the top spot in the league table ranking with $8.1 billion with Citi following closely behind and BofA Merrill taking third place.
