The equity capital markets held steady this week with $566 million raised from eight issues. Year-to-date volume stands at $52.8 billion from 554 deals û less than half of the $108.8 billion worth of deals priced in the same period last year. Citi holds on to the top position in the league table ranking with $4.7 billion, followed by Credit Suisse and Morgan Stanley, both with $3.7 billion.
Hynix SemiconductorÆs $462 million convertible was the largest issue of the week and led by KDB and Shin Young Securities.
Deals scheduled to price next week include Hindalco IndustriesÆ $1.2 billion follow-on offering via bookrunners Citi, Deutsche Bank, Merrill Lynch, RBS and SBI Capital Markets.
Debt Capital Markets
The debt capital markets stirred back to life this week with Korea Railroad CorpÆs $200 million trade led by Citi, HSBC and Morgan Stanley. Year-to-date activity now stands at $16.2 billion, down 48% from $31.1 billion at the same time last year.
HSBC remains at the head of the league table with $2.5 billion and a 15.6% market share, followed by Deutsche Bank and Citi with $2.1 billion and $1.6 billion respectively. Morgan Stanley moved up a couple of notches on the back of KorailÆs trade, to seventh place with $1.0 billion.
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