Equity Capital Markets
A total of $3.3 billion was raised from 19 issues in the equity capital markets this week, pushing year-to-date volume over the $130 billion mark. Citic Securities now sits at the top of the league table rankings with $7.8 billion, displacing Goldman Sachs to second place with $7.5 billion and China International Capital Corp to the third spot with $7.3 billion.
Adani Enterprises' $851 million fully marketed deal was the biggest issue of the week and led by Bank of America Merrill Lynch, Citi, Enam Financial Consultants, ICICI Bank, IDFC, Kotak Mahindra Finance, Morgan Stanley and UBS.
J.P. Morgan moved up a notch in the rankings to fourth place with $7 billion, on the back of a $498 million convertible bond and $200 million accelerated bookbuild for China Agri-Industries Holdings, which it led together with Morgan Stanley. Morgan Stanley remains in seventh place in the league table with $5.5 billion.
Citic Securities secured the lead position in the league table following a $413 million A-share IPO for Zhengzhou Coal Mining Machinery Group that the domestic house ran on a sole basis.
Deals scheduled to price next week include a $128 million rights issue for South Korea's Chinhung International via bookrunners Shinhan Investment Corp and Woori Investment & Securities.
Debt Capital Markets
Volume in the debt capital markets reached $2.8 billion from nine trades this week, bringing year-to-date issuance to $44.0 billion. Deutsche Bank continues to head the league table rankings with $4.6 billion, followed by HSBC and Citi on $3.9 billion and $3.89 billion respectively.
State Bank of India's $1 billion bond was the largest deal of the week and led by Bank of America Merrill Lynch, Citi, Deutsche Bank, HSBC, Royal Bank of Scotland (RBS) and UBS. UBS climbed up a place in the league table to take the fifth spot with $3.3 billion.
National Agricultural Cooperative Federation raised $500 million via bookrunners Citi, Credit Agricole CIB, ING, Morgan Stanley and RBS.
Morgan Stanley also ran the books for Kookmin Bank's $207 million trade, together with Mizuho, RBS and UBS. The US investment house climbed up a notch in the rankings to fourth place this week, with $3.4 billion.