Equity capital markets
Volume in the Asian equity capital markets totalled $1.2 billion from 19 transactions this week, bringing volume for the year so far to $1.4 billion — the lowest start to the year for the region since 2007 ($562 million from 31 issues)
J.P. Morgan tops the bookrunner ranking with $603 million, on the back of Hyundai Heavy Industries’ $603 million follow-on, which was also the largest deal of the week. Citic Securities and Huatai Securities follow at second and third place in the ranking, respectively.
Top 10 Asia ex-Japan ECM bookrunner rankings
Debt capital markets
A total of $7.4 billion was raised from six deals in the G3 debt capital markets this week, pushing year-to-date issuance to $11.1 billion from eight trades, up from the $1.6 billion from nine trades raised during the same period last year and marking the strongest start to the year for the region on record. Five out of the eight deals completed so far this year are valued at $1 billion or above.
J.P. Morgan also leads field in the league table with $2.2 billion, boosted by Asian Development Bank’s $3 billion supranational offering completed on January 10 led by Goldman Sachs, J.P. Morgan, Morgan Stanley and RBC in what was one of the ADB’s biggest offers on record. HSBC and Goldman Sachs come in at second and third place respectively.
The second largest deal of the week was a $1.8 billion trade for Republic of Indonesia and led by HSBC, J.P. Morgan and Standard Chartered.
Top 10 Asia ex-Japan DCM bookrunner rankings