Dealogic roundup

Dealogic league table roundup, Feb 15

KB Financial Group completes biggest follow-on by a Korean Issuer this year.

Equity capital markets
Activity in Asian equity markets reached $905 million through six deals during the past week, down from the $7.2 billion raised through 28 deals in the previous week, bringing year-to-date volume to $27.2 billion.

ING’s $669 million sale of its stake in KB Financial Group was the biggest deal of the week and led by sole bookrunner Bank of America Merrill Lynch. This deal marks the biggest follow-on from a Korean issuer so far this year and also the 10th-largest Asia (ex-Japan) follow-on so far in 2013. The deal pushes Korea ECM volume to $1.4 billion, lifting the country to third in the regional ranking, behind China with $16.6 billion and India with $4.5 billion.

India ECM volume was boosted by a $185 million follow-on priced this week for an Indian company, WNS Holdings, through bookrunners Bank of America Merrill Lynch and Wells Fargo Securities which is the second-biggest deal of the week.

Goldman Sachs continues to lead the league table ranking with $6.2 billion so far in 2013, followed by UBS and Credit Suisse.

Debt capital markets
Flextronics International was the only Asian issuer to tap the G3 debt capital markets so far this week, raising $1 billion from joint bookrunners Citi, BNP Paribas, Deutsche Bank, HSBC, Royal Bank of Scotland, Bank of America Merrill Lynch, J.P. Morgan and Scotiabank.

This pushes G3 issuance from Singapore issuers to $1.6 billion in 2013 YTD compared to zero issuance in the same 2012 period, and brings YTD issuance in Asia (ex Japan) to $25.9 billion.

The top three banks in the league table remain unchanged, with HSBC taking $3.7 billion this year, followed by USB and Standard Chartered, respectively.

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