Equity Capital Markets
Bank of Nanjing’s $1.3 billion follow-on through bookrunners CITIC Securities and Nanjing Securities is the largest deal of the week and brings weekly equity capital markets issuance to $2.7 billion via 25 transactions, down significantly on the $16.9 billion raised in the same period last week.
Despite the decline in volume this week, Asia ex Japan ECM volume has reached $158.5 billion so far this year, almost double the $88.6 billion raised in the same 2014 period and the highest YTD total on record.
FIG is the leading sector for ECM issuance with $50.8 billion in 2015 YTD, more than triple the $14.3 billion raised in 2014 YTD.
CITIC Securities leads the league table ranking with $12.1 billion in 2015 YTD, followed by Goldman Sachs and UBS with $12.08 billion and $11.0 billion, respectively.
Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD | ||||
Bookrunner | Deal Value ($m) | No. | %share | |
1 | CITIC Securities | 12,110 | 41 | 7.6 |
2 | Goldman Sachs | 12,082 | 33 | 7.6 |
3 | UBS | 11,027 | 40 | 7.0 |
4 | Credit Suisse | 6,818 | 33 | 4.3 |
5 | Morgan Stanley | 6,625 | 39 | 4.2 |
6 | JP Morgan | 6,449 | 27 | 4.1 |
7 | Guotai Junan Securities | 5,858 | 26 | 3.7 |
8 | Haitong Securities | 5,062 | 42 | 3.2 |
9 | Deutsche Bank | 5,045 | 19 | 3.2 |
10 | Ping An Securities | 3,882 | 19 | 2.5 |
Debt Capital Markets
Nine issuers have tapped the G3 debt capital markets this week for $7.5 billion, compared to $645 million through three deals in the same period last week. This brings YTD issuance to $123.1 billion, the highest YTD total on record and up 9% year-on-year.
The largest deal of the week is Bank of China’s $3.2 billion multi-currency debt package through a consortium of 14 bookrunners. The deal is split into a $2.3 billion USD-denominated multi-tranche portion, $500 million Euro-denominated bond and a $500 million SGD-denominated portion. Excluding the SGD portion, the deal value is $2.7 billion.
FIG issuers have tapped the G3 bond markets for $33.1 billion so far this year, up 43% year-on-year and the highest YTD total on record.
HSBC continues to top the league table rankings with $13.5 billion in 2015 YTD while Citi and JPMorgan follow with $11.8 billion and $8.7 billion, respectively.
Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD | ||||
Bookrunner | Deal Value ($m) | No. | %share | |
1 | HSBC | 13,491 | 76 | 11.0 |
2 | Citi | 11,794 | 57 | 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 | 6,140 | 34 | 5.0 |
8 | Goldman Sachs | 4,856 | 21 | 3.9 |
9 | Bank of China | 4,145 | 26 | 3.4 |
10 | DBS | 3,632 | 21 | 3.0 |