Dealogic League Table Roundup July 3

Asia ex Japan ECM and G3 DCM at highest 1H volume on record

Equity Capital Markets
A total of $4.9 billion has been raised in the Asian equity capital market this week through 38 deals, slightly up on the $4.8 billion raised in the same period last week.

The largest deal of the week is China Grand Automotive Services’ $982 million follow-on offering on the Shanghai Stock Exchange through joint bookrunners Southwest Securities, China International Capital Corp and Goldman Sachs. This deal is also the second biggest ECM deal from the auto/truck sector in the region so far this year.

Asian issuers have raised a total of $164.8 billion in the equity capital markets in the 1H 2015, up 81% year-on-year and the highest 1H total on record. Chinese issuers accounted for 73% of the regional volume with $121 billion in 1H 2015, also the highest 1H volume on record.

Goldman Sachs led the bookrunner ranking with $12.5 billion for 1H 2015. CITIC Securities and UBS followed with $12.2 billion and $11.0 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2015 1H
         
  Bookrunner Deal Value ($m) No. %share
1 Goldman Sachs 12,507 35 7.7
2 CITIC Securities 12,208 42 7.5
3 UBS 11,027 40 6.8
4 Credit Suisse 6,956 35 4.3
5 Morgan Stanley 6,722 40 4.1
6 JP Morgan 6,567 28 4.0
7 Guotai Junan Securities  5,858 26 3.6
8 Haitong Securities  5,224 45 3.2
9 Deutsche Bank 5,045 19 3.1
10 Citi 3,908 27 2.4

 

Debt Capital Markets
Two issuers have tapped the Asia ex Japan G3 debt capital market for $1.2 billion so far this week, compared to $7.4 billion raised via 8 deals in the same period last week.

The largest deal this week is Asian Development Bank’s $1 billion bond through bookrunners Goldman Sachs and Bank of America Merrill Lynch. Asia SSA G3 DCM issuance has reached $29.6 billion in 2015 YTD, up on the $26 billion from the same 2014 period and the also highest YTD total on record.

G3 bond issuance in 1H 2015 totaled $123.3 billion in Asia ex Japan, up 9.9% year-on-year and the highest 1H volume on record. Chinese issuers accounted half of the regional volume with $62.8 billion raised in 1H 2015, up 30% on the same 2014 period and the highest 1H total on record.

HSBC topped the league table ranking in 1H 2015 with $13.6 billion while Citi and JPMorgan rounded off the top three with $11.9 billion and $8.7 billion, respectively.

Asia (ex Japan) G3 DCM Bookrunner Rankings -  2015 1H
         
  Bookrunner Deal Value ($m) No. %share
1 HSBC 13,566 76 11.0
2 Citi 11,868 58 9.6
3 JP Morgan 8,700 44 7.1
4 Deutsche Bank 7,502 50 6.1
5 Standard Chartered  7,254 40 5.9
6 Bank of America Merrill Lynch 7,108 49 5.8
7 Morgan Stanley 6,136 33 5.0
8 Goldman Sachs 4,856 21 3.9
9 Bank of China 4,219 27 3.4
10 DBS 3,707 21 3.0

 

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