Activity was brisk in the equity capital markets this week with $7.1 billion raised from 16 issues, bumping up year-to-date volume over the $70 billion mark. Morgan Stanley shot to the top of the rankings with $7.2 billion, with UBS and Goldman Sachs following in second and third place respectively.
DLFÆs $2.1 billion IPO was the largest issue of the week and bookrun by Citi, Deutsche Bank, ICICI Bank, Kotak Mahindra Finance, Lehman Brothers, Merrill Lynch and UBS. The deal put UBS ahead of Goldman Sachs in the rankings.
Morgan Stanley pushed its way up to the top of the league tables on the back of Sterlite Industries (India)Æs $2.0 billion follow-on offering, led with Citi, Merrill Lynch and Nomura. Citi remains fixed in fifth place with $5 billion while Merrill Lynch climbed up a notch to the seventh spot with $3.8 billion.
A number of deals are scheduled to price next week, including China High Speed Transmission Equipment GroupÆs $239 million IPO led by Morgan Stanley.
Debt Capital Markets
The debt capital markets picked up the pace this week with $2 billion from four trades. Deutsche Bank held onto its first place ranking with $4.7 billion from 20 deals, followed by Citi on $4.4 billion and JPMorgan with $3 billion.
UBS printed a $1 billion trade for IndonesiaÆs Majapahit Holding, the largest deal of the week. The Swiss house climbed up a notch to fourth place with $2.8 billion.
Daiwa Securities SMBC entered the top 10 on the back of Export-Import Bank of Korea (KEXIM)Æs $283 million deal, run on a sole basis.