Issuance in the equity capital markets dropped back to $306 million from nine issues this week, bringing 2009 year-to-date volume to $6.8 billion from 31 deals û up 9% from the $6.2 billion raised in the same period 2008. Bank of America-Merrill Lynch continues to head the league table ranking with $1.9 billion from two issues, followed by UBS on $1.4 billion and Morgan Stanley and RBS sharing third place with $1.2 billion each.
Dish TV IndiaÆs $233 million fully-marketed follow-on offering was the biggest issue of the week and led by Enam Financial Consultants. The deal pushed the Indian house into fifth place in the rankings.
Deals scheduled to price next week include a $2.8 billion follow-on offering for DBS Group Holdings, led by Citi, DBS, Goldman Sachs, J.P. Morgan, Morgan Stanley and UBS.
Debt Capital Markets
The debt capital markets fell silent this week with zero trades following a handful of large transactions in the past fortnight. Deutsche Bank and HSBC continue to share the top spot in the league table ranking with $1.3 billion each.
Bank of America-Merrill Lynch and RBS climbed up a notch to sit in third place with $795 million apiece on the back of Korea Development Bank (KDB)Æs $2.0 billion trade, which they arranged jointly with BNP Paribas, Deutsche Bank and HSBC. The bond was priced late last week.