Equity Capital Markets
The equity capital markets raised $1.7 billion from 16 issues this week, tipping year-to-date volume over the $72 billion mark. Deal value is still down 5% year-on-year, while the deal flow of 693 issues is up 5% over the comparable period last year.
The league table rankings remain static this week with China International Capital Corp, Morgan Stanley and UBS sitting at the top with $7.6 billion, $7.2 billion and $6.6 billion respectively.
NHPC's $1.2 billion IPO was the biggest issue of the week - accounting for 70% of total weekly issuance -- and led by Enam Financial Consultants, Kotak Mahindra Finance and SBI Capital Markets. The deal marks India's largest listing since Reliance Power's $3.0 billion IPO in January 2008.
A clutch of deals are expected to price next week, including KB Financial Group's $875 million rights issue led by Goldman Sachs, Korea Investment & Securities, Morgan Stanley and Samsung Securities.
Debt Capital Markets
It was a silent week in the debt capital markets with zero trades. Deutsche Bank leads the league table ranking on $4.9 billion, followed by HSBC with $4.4 billion and Citi with $4.3 billion.