Equity Capital Markets
A total of 14 ECM transactions have been completed this week raising altogether $1.2 billion, down on the $2.3 billion raised in the same period last week and bringing the region’s total issuance to $183.6 billion in 2015 YTD, up 57% year-on-year and the highest YTD level on record.
AVIC Aircraft's $483 million follow-on offering through joint bookrunners Guotai Junan Securities and Aviation Industry Corporation of China (AVIC) is the largest transaction this week.
Total ECM volume from the Transportation sector has reached $7.8 billion via 47 deals in 2015 YTD, up 61% year-on-year and the second highest YTD level behind 2011 ($9.6 billion). China Railway Signal & Communication priced a $1.4 billion IPO on July 31 in what stands as the largest Transportation deal so far this year.
UBS leads the league table ranking with $13.5 billion in 2015 YTD, with CITIC Securities trailing closely behind with $13.3 billion and Goldman Sachs rounding off the top three with $12.7 billion.
| Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | UBS | 13,456 | 46 | 7.3 |
| 2 | CITIC Securities | 13,345 | 48 | 7.3 |
| 3 | Goldman Sachs | 12,734 | 37 | 6.9 |
| 4 | Morgan Stanley | 8,295 | 47 | 4.5 |
| 5 | Credit Suisse | 7,285 | 40 | 4.0 |
| 6 | JPMorgan | 6,652 | 31 | 3.6 |
| 7 | Guotai Junan Securities | 6,121 | 29 | 3.3 |
| 8 | Haitong Securities | 5,599 | 50 | 3.1 |
| 9 | Deutsche Bank | 5,120 | 20 | 2.8 |
| 10 | Citi | 4,219 | 31 | 2.3 |
Debt Capital Markets
Eight issuers have tapped the G3 debt capital markets this week for a total of $2.9 billion, up on the $2.2 billion raised through seven deals last week.
The largest deal of the week is Republic of Indonesia’s $806 million transaction through bookrunners Mizuho, Sumitomo Mitsui Financial Group and Nomura.
Asia (ex Japan) SSA G3 bond issuance stands at $32.4 billion in 2015 YTD, up on the $31.4 billion in the comparable 2014 period and highest YTD level on record.
HSBC continues to top the league table ranking with $15.3 billion in 2015 YTD while Citi and JPMorgan follow with $13.0 billion and $9.9 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 15,284 | 94 | 10.8 |
| 2 | Citi | 13,026 | 69 | 9.2 |
| 3 | JPMorgan | 9,870 | 52 | 7.0 |
| 4 | Deutsche Bank | 9,157 | 61 | 6.5 |
| 5 | Standard Chartered Bank | 8,120 | 46 | 5.7 |
| 6 | Bank of America Merrill Lynch | 8,087 | 55 | 5.7 |
| 7 | Morgan Stanley | 6,259 | 35 | 4.4 |
| 8 | Goldman Sachs | 5,869 | 25 | 4.2 |
| 9 | Bank of China | 4,891 | 36 | 3.5 |
| 10 | DBS | 4,617 | 29 | 3.3 |
