Equity capital markets
The Asian equity markets have raised $3.7 billion through 23 transactions so far this week, up from $589 million raised during the same period last week, which brings year-to-date volume to $53.3 billion so far this year, up 8% year-on-year.
The biggest deal of the week was Shijiazhuang Baoshi Electronic Glass Co’s $807 million follow-on through bookrunner Guangzhou Securities, which is the biggest tech ECM transaction in Asia (ex Japan) so far this year.
The other notable deal in the region was LT Group’s $796 million follow-on through bookrunner UBS. It is the second-biggest ECM transaction from the Philippines on record, and could be even bigger — the deal has an overallotment option of 240,000,000 shares yet to be exercised at $0.5/share, which will bring the total value to $916 million.
Goldman Sachs continues to lead the league table ranking with $7 billion, followed by UBS and Morgan Stanley.
Debt capital markets
Four issuers have tapped the Asian G3 bond marker for $4.9 billion during the past week, down from the $7.9 billion raised in the same period last week.
Sinopec’s $3.5 billion multi-tranche bond through a consortium of 12 bookrunners is the biggest deal of the week and marks the third-largest G3 bond on record and the largest bond on record by a Chinese issuer.
Chinese issuers have already tapped the G3 bond market for a total of $18.9 billion so far this year, more than double the $7.5 billion raised in the same period last year and marking the highest year-to-date level on record.
San Miguel’s $795 million trade was the second-biggest deal of the week through bookrunners ANZ, DBS, Deutsche Bank, Bank of America Merrill Lynch and Standard Chartered. The deal marks the largest G3 trade in the region’s food and beverage sector on record. Southeast Asia G3 trade volume stands at $17.1 billion in 2013, down 12% from the $19.4 billion raised during the same period last year.
The top three banks remain unchanged with HSBC topping the league table ranking with $7.9 billion in 2013 year-to-date, followed by Standard Chartered and J.P. Morgan, respectively.
