Equity Capital Markets
The equity capital markets raised a total of $4.0 billion from 23 deals this week, with year-to-date issuance now up 88% year-on-year to $16.6 billion. Bank of China leads the field in the league table rankings on $1.8 billion, followed by UBS on $1.6 billion and China International Capital Corp on $1.5 billion.
Bank of China raced to the top of the ranking on the back of the largest deal of the week -- China First Heavy Industries' $1.7 billion A-share IPO that the bank led on a sole basis; as well as a $327 million IPO for International Mining Machinery, which was arranged together with UBS.
UBS maintained its position in second place, having also led Esprit Holdings' $601 million bought deal.
Issues scheduled to price next week include MISC's $1.9 billion rights offer via bookrunner RHB Capital; and a $282 million A-share IPO for Befar Group led by Guosen Securities.
Debt Capital Markets
Debt capital markets activity picked up this week with six trades raising a total of $2.5 billion -- the highest weekly deal flow since late October. The top three rankings in the league table remain static with Barclays Capital on $1.6 billion, Deutsche Bank on $1.34 billion and Citi on $1.26 billion.
Korea Development Bank's $750 million bond was the largest deal of the week and led by Bank of America Merrill Lynch, BNP Paribas, Daewoo Securities, HSBC and Morgan Stanley. BNP Paribas moved into the top 10 to sit in the 10th spot with $264 million; while HSBC and Morgan Stanley advanced to fourth and ninth place respectively, having also jointly led a $500 million trade for Fita International together with J.P. Morgan.
Standard Chartered climbed into the eighth spot from 10th last week, following Rizal Commercial Banking Corp's $250 million bond, which it led together with Citi; and a $230 million deal for Altus Capital on which it acted as a joint bookrunner alongside DBS and Deutsche Bank.