Equity Capital Markets
The Asian equity markets have raised a total of $2.8 billion through 13 deals this week, down slightly from the $6.0 billion raised in the same period last week.
The largest deal of the week was a $1.4 billion follow-on for China Shipbuilding Industry through bookrunner Haitong Securities, marking the second largest ECM deal in the region this year.
Chinese issuers have led the issuance so far this year with $13.0 billion, up slightly on the $12 billion raised in the same period last year, and have pushed Asia-ex Japan ECM volume to $20.7 billion in 2014 YTD, up 22% on the $17.0 billion raised in 2013 YTD.
Goldman Sachs continues to lead the league table rankings with $ 2.5 billion, followed by Haitong Securities and HSBC.
Debt Capital Markets
Two issuers have tapped the Asian G3 debt capital markets for $770 million this week, compared to the $6.1 billion raised in the same period last week. Despite the lull in activity this week, 2014 volume so far at $25.0 billion is still at a YTD record and up 13% year-on-year.
The largest deal of the week was a $750 million trade by Puma International Financing through bookrunners First Rand, Goldman Sachs, Standard Bank, ING, SG CIB and Natixis. The deal is guaranteed by Puma Energy Holdings.
The only other deal to price this week was a $20 million trade for Export-Import Bank of Korea (Kexim) through bookrunner Bank of America Merrill Lynch.
Citi leads the league table ranking with $4.6 billion in 2014 YTD, followed by Bank of America Merrill Lynch and Deutsche Bank, respectively.