Equity capital markets
Volume in the Asian equity capital markets totalled $1.4 billion from 10 transactions this week, which brings the average deal size this week to $140 million, the highest weekly average since the week of December 5 ($189 million). J.P. Morgan maintains its lead in the league table ranking with $603 million.
Gree Electric Appliances’ $517 million follow-on was the largest deal of the week and led by China Merchants Bank. The deal marks the sixth-biggest ECM transaction globally so far this year and pushes China Merchants Bank to second place in the league table ranking.
The second-biggest deal of the week was a $327 million follow-on for Xinjiang Tianshan Cement through bookrunner Hongyuan Securities, which boosted the bank to third place in the league table.
Top 10 Asia ex-Japan ECM bookrunner rankings
Debt capital markets
Three Asian borrowers raised $1.4 billion in the G3 debt capital markets this week, down from the weekly record of $7.7 billion raised through seven trades in the week prior.
The top three banks in the league table ranking remain unchanged, with J.P. Morgan taking $2.6 billion, while HSBC and Goldman Sachs follow in second and third place, respectively.
Shinhan Bank issued the biggest deal of the week, raising $698 million through bookrunners Bank of America Merrill Lynch, BNP Paribas, Deutsche Bank, HSBC and Standard Chartered. The deal also marks the second largest bond on record for the issuer. Standard Chartered moved to fifth spot on the back of this deal.
Top 10 Asia ex-Japan DCM bookrunner rankings