Equity Capital Markets
Equity capital markets issuance spiked to $5.8 billion from 14 deals this week following two transactions above $1 billion in size. UBS now leads the league table ranking by a large margin on $4.3 billion, followed by J.P. Morgan and Goldman Sachs on $3 billion and $2.8 billion respectively.
The largest issue of the week was China Merchants Bank's $3.2 billion rights offer, which was led by Bank of America Merrill Lynch, BNP Paribas, China International Capital Corp CICC, Goldman Sachs, J.P. Morgan and UBS. Goldman Sachs climbed into the top three from seventh place last week, having also led Yingde Gases Group's $145 million accelerated bookbuild on a sole...