The equity capital markets saw a total of $1.9 billion raised from seven issues this week, pushing year-to-date volume above the $15 billion mark (134 deals). However, this is still down 24% from $20.6 billion in the same period last year and the deal count is less than half of the 283 deals priced by this time last year. Citi continues to lead the rankings on $2.3 billion from seven issues, followed by JPMorgan on $1.7 billion and Credit Suisse with $1.0 billion.
LG DisplayÆs $1.1 billion bought deal was the largest issue of the week and led by Citi and Credit Suisse. The issue pushed the Swiss investment bank into the top 10 and straight onto the third rung.
ChinaÆs Suntech Power Holdings raised $500 million from a convertible led by Goldman Sachs, Royal Bank of Scotland and UBS. UBS remains in fourth place in the rankings, while RBS moved into the 10th spot.
ICICI Bank and Silverdale Services led a $225 million convertible for Sintex Industries. ICICI Bank moved up a notch in the rankings to sit in the ninth position.
Morgan Stanley and Kotak Mahindra Finance dropped out of the top 10 this week.
Deals scheduled to price next week include the $1.7 billion IPO for Evergrande Real Estate Group, which is bookrun by Credit Suisse, Goldman Sachs and Merrill Lynch.
Debt Capital Markets
It was a silent week in the debt capital markets with zero trades. HSBC sits at the top of the rankings with $1.3 billion, followed by Barclays Capital on $764 million and Lehman Brothers with $665 million.
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