Dealogic roundup

Dealogic league table roundup, June 29

HSBC taps Goldman Sachs for sale of Indian bank stakes, helping the US investment bank to stay atop the ECM league table.

Equity capital markets
Activity in the equity capital markets stands at $3.1 billion through 17 issues so far this week, up slightly on the $2.8 billion completed through 26 transactions in the week prior.

HSBC has sold its entire stake in India’s Axis Bank and Yes Bank through two separate but simultaneous block trades, raising at least $423 million. Goldman Sachs joined HSBC as a bookrunner. These sell-downs bring India ECM volume to $6.3 billion, down 23% on the $8.2 billion raised during the same period last year.

Hongyuan Securities’ $1.1 billion follow-on was the biggest transaction of the week through bookrunners Ping An Securities, Guotai Junan Securities and Northeast Securities. Citic Heavy Industries’ $506 million IPO through bookrunners Citic Securities and Deutsche Bank comes in as the second-biggest deal of the week.

Goldman Sachs continues to lead the league table ranking in the region with $6.4 billion, followed by UBS and Morgan Stanley.


Debt capital markets
Korea Development Bank was the only issuer to tap the G3 debt capital markets this week, issuing a $500 million bond through bookrunners Barclays, Citi, KDB, Standard Chartered and UBS. Weekly issuance is down from the $2.5 billion raised through seven trades last week and represents the lowest weekly level since the week of January 23 ($52 million through two deals).

The top three banks in the league table remain unchanged with HSBC taking $11.1 billion, followed by J.P. Morgan and Standard Chartered.

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