Dealogic league table roundup, July 24

World's largest IPO so far this year propels CICC to the top of the ECM bookrunner ranking.

Equity Capital Markets

The equity capital markets raised a total of $10.8 billion from 25 deals this week on the back of China State Construction Engineering Corp's $7.3 billion IPO that priced yesterday - marking the highest weekly issuance (including A-shares) in the region in almost two years. China State Construction Engineering Corp's A-share listing is the largest IPO globally so far this year and the biggest seen since Visa raised $19.7 billion in March 2008.

The deal propelled sole bookrunner China International Capital Corp (CICC) to the top of the bookrunner ranking with $7.6 billion, pushing Morgan Stanley and J.P. Morgan into second and third place with $6.3 billion and $6.2 billion respectively.

The week also saw eight issues in excess of $200 million in size come to market - a number not seen since early November 2007, when 13 sizeable deals were priced. BBMG's $768 million IPO was the second largest issue of the week and led by J.P. Morgan, Macquarie Group and UBS; Tata Steel raised $500 million from a fully-marketed deal via Citi, Goldman Sachs, J.P. Morgan and UBS; and Goldman Sachs and Morgan Stanley ran the books for Shin Kong Financial Holding's $375 million accelerated bookbuild.

Deals scheduled to price next week include a $336 million follow-on offering for Taiwan's Inotera Memories via sole bookrunner Credit Suisse.

Debt Capital Markets

The debt capital markets saw a single trade this week - Korea National Oil Corp (KNOC)'s $1 billion bond led by Bank of America Merrill Lynch, Barclays Capital, BNP Paribas, Deutsche Bank, J.P. Morgan and Korea Development Bank. The league table ranking remains static with Deutsche Bank leading the field on $4.9 billion followed by HSBC and Barclays Capital with $3.7 billion and $3.0 billion respectively.

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