Equity Capital Markets
A total of $3.6 billion has been raised in the Asian equity capital market this week through 26 deals, the lowest weekly volume since the week of April 6th ($2.2 billion via 28 deals) and down from the $10 billion raised last week.
The largest deal of the week is a $563 million follow-on for Franschion Properties (China) through bookrunners Morgan Stanley, China Construction Bank and HSBC. The deal is third biggest real estate sector ECM transaction in the region.
Real estate issuers in the region have raised a total of $8.5 billion in the equity capital markets so far this year through 50 deals and almost double the $4.9 billion raised in the same period last year.
Goldman Sachs leads the league table ranking with $11.5 billion in 2015 YTD, followed by UBS and CITIC Securities with $10.8 billion and $7.4 billion, respectively.
Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD | ||||
Bookrunner | Deal Value ($m) | No. | %share | |
1 | Goldman Sachs | 11,515 | 29 | 8.5 |
2 | UBS | 10,798 | 38 | 7.9 |
3 | CITIC Securities | 7,397 | 35 | 5.4 |
4 | Credit Suisse | 6,651 | 31 | 4.9 |
5 | Morgan Stanley | 6,303 | 37 | 4.6 |
6 | Guotai Junan Securities | 5,608 | 23 | 4.1 |
7 | JP Morgan | 5,179 | 23 | 3.8 |
8 | Deutsche Bank | 4,925 | 18 | 3.6 |
9 | Haitong Securities | 4,384 | 34 | 3.2 |
10 | Citi | 3,218 | 19 | 2.4 |
Debt Capital Markets
Six issuers tapped the Asian G3 debt capital markets for a total of $2.2 billion so far this week, down on the $5.4 billion raised last week and the lowest weekly issuance since the week of March 20th ($806 million via four deals).
China Great Wall International Holdings II’s $1 billion trade through a consortium of 14 bookrunners is the biggest deal of the week and brings FIG G3 issuance in Asia ex Japan to a record $28.3 billion in 2015 YTD and up 33% year-on-year. Chinese issuers account for 69% of total issuance with $19.5 billion, up from just 33% share in 2014 YTD.
HSBC continues to top the league table rankings with $12.6 billion in 2015 YTD while Citi and Deutsche Bank follow with $11.1 billion and $7.5 billion, respectively.
Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD | ||||
Bookrunner | Deal Value ($m) | No. | %share | |
1 | HSBC | 12,613 | 71 | 11.1 |
2 | Citi | 11,108 | 54 | 9.7 |
3 | Deutsche Bank | 7,502 | 50 | 6.6 |
4 | JPMorgan | 7,372 | 38 | 6.5 |
5 | Standard Chartered | 6,954 | 39 | 6.1 |
6 | Bank of America Merrill Lynch | 6,625 | 46 | 5.8 |
7 | Morgan Stanley | 5,870 | 31 | 5.1 |
8 | Bank of China | 3,796 | 25 | 3.3 |
9 | DBS | 3,378 | 20 | 3.0 |
10 | Credit Suisse | 3,374 | 18 | 3.0 |