Dealogic roundup

Dealogic league table roundup, July 12

Indonesia closes the biggest G3 bond deal in Asia (ex-Japan) since Vedanta Resources in May.


Equity capital markets

The Asian equity markets raised $1.4 billion through 15 transactions this week, down from the $2.2 billion raised through 20 transactions in the same period last week and brings year-to-date volume to $85 billion so far this year, up 4% year-on-year.

A $502 million follow-on for First Pacific through sole bookrunner HSBC is the biggest deal of the week and the largest deal by Asian issuers since Fubon Financial Holding’s $850 million follow-on completed on July 2.

The second-biggest deal of the week is a $283 million accelerated bookbuild for New China Life Insurance through sole bookrunner Goldman Sachs which brings total accelerated offering* volume in the region to $24.8 billion, down slightly year-on-year ($26.7bn).

The top three banks remain unchanged with Goldman Sachs topping the league table ranking with $9.7 billion in 2013 year-to-date, followed by UBS and J.P. Morgan, respectively.

*Accelerated offerings includes bookbuild and bought deals

Debt capital markets
Four issuers have tapped the Asian G3 debt capital markets for $1.9 billion so far this week, up from zero issuance the week before and marks the highest weekly volume since week of May 20 with $3.9 billion. This brings 2013 year-to-date volume to a record $95.4 billion compared to the previous year-to-date record set in 2012 ($80.6bn).

Republic of Indonesia’s $1 billion issue through bookrunners Standard Chartered, J.P. Morgan and Barclays was the biggest trade of the week and the largest G3 bond since Vedanta Resources’ $1.7 billion bond priced on May 22, 2013.

The second-largest deal of the week was a $641 million (€500m) euro-denominated bond by SPI Electricity & Gas Australia Holding through bookrunners Deutsche Bank, BNP Paribas, HSBC, Royal Bank of Scotland and Mitsubishi UFJ Financial Group. This marks the ninth euro-denominated bond by Asian issuers so far this year compared to six euro-denominated bonds completed in full year 2012.

HSBC continues to lead the league table ranking with $10.9 billion in 2013 year-to-date, while Deutsche jumps to second place with $8.1 billion. Goldman Sachs drops one spot and ranks third place, also with $8.1 billion.


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