Equity capital markets
Activity in the equity capital markets has reached $3.6 billion through 26 issues so far this week, up slightly on the $3.4 billion raised in the week prior.
IHH Healthcare completed a $2 billion IPO on July 12 through bookrunners CIMB, Deutsche Bank, Bank of America Merrill Lynch, Credit Suisse, Goldman Sachs, DBS and Maybank in what was the biggest deal of the week and also the third-biggest IPO in the world this year. The deal helped CIMB to jump to the 10th spot in the league table, the first time it has made it into the top 10 since 2001.
Ayala Land’s $323 million accelerated offering (including accelerated bookbuilds and bought deals) through bookrunners Goldman Sachs, J.P. Morgan and UBS was the second-biggest deal of the week and pushes the total volume of accelerated offerings in the region this year to $26.7 billion, up from the $17.7 billion issued in the comparable 2011 period — the highest year-to-date level on record.
Goldman Sachs continues to lead the league table ranking with $6.7 billion, followed by UBS and Citi.
Debt capital markets
Three Asian borrowers have raised $1.2 billion in the G3 debt capital markets so far this week, up from the $500 million raised last week through a sole issuer. This brings total G3 issuance in the region to $80.7 billion, up 30% on the $62.1 billion achieved in the same period last year to reach the highest year-to-date level on record.
The biggest deal of the week was a $500 million trade for Korea East West Power through bookrunners Citi, HSBC, Bank of America Merrill Lynch, Morgan Stanley and UBS.
G3 issuance from the utility and energy sector stands at $1.8 billion so far in 2012, up from the $1.6 billion raised during the same period in 2011 and ranks fourth on the Asian G3 sector ranking. Finance remains the busiest sector with a record $21.5 billion of issuance, followed by the property sector, which saw volume increase to $4.9 billion from just $40 million raised at this point in 2011.
The top three banks in the league table remain unchanged with HSBC taking $11.3 billion, followed by J.P. Morgan and Standard Chartered.
