Equity Capital Markets
The Asian equity capital markets have raised a total of $632 million through 11 deals so far this week, up slightly on the $568 million raised in the same period last week.
Seven out of the 11 deals this week were follow-on transactions – the largest of which was a $235 million follow-on for China Spacesat through bookrunner China Securities. Jinxi Axle raised $209 million via a follow-on through Guotai Junan Securities in what was the second biggest transaction this week.
Follow-on volume in the region has reached $66.3 billion in 2013 for the year to date, up 5% year-on-year. In contrast, IPO volume has fallen 37% during the same period to $16.0 billion while equity-linked volume has risen 59% to $9.4 billion.
Goldman Sachs continues to lead the league table ranking with $9.9 billion in 2013 YTD, followed by UBS and JPMorgan, respectively.
Debt Capital Markets
Two Asian borrowers have tapped the G3 debt capital markets for $846 million this week, the first week since July 23rd when less than $1 billion has been raised ($983 million through four trades).
Despite the slow pace of activity this week, the G3 debt capital markets have raised $100.9 billion in 2013 for the year to date, breaching the $100 billion mark for the first time on record on a YTD period and up 10% year-on-year.
The largest deal of the week was a $500 million trade for Korea Finance Corp through bookrunners UBS, Deutsche Bank, KDB, Citi and Bank of America Merrill Lynch.
HSBC continues to lead the league table ranking with $11.3 billion followed by Citi and Goldman Sachs, respectively.
