Equity capital markets
Activity in Asia’s equity markets totalled $1.2 billion through 13 transactions during the past week, down from $1.6 billion raised during the previous week.
ASM Pacific Technology’s $550 million follow-on through bookrunners HSBC and Morgan Stanley was the biggest deal of the week and the largest tech ECM deal in the region so far this year. It is also the biggest tech deal in the region since Youku’s $593m follow-on completed in May, 2011.
Asia (ex-Japan) ECM volume in the tech sector stands at $2.1 billion so far this year, down 6% on the $2.3 billion raised during the same period last year and the lowest year-to-date level since 2009 ($1.1 billion)
Goldman Sachs continues to lead the league table ranking with $7 billion, followed by UBS and J.P. Morgan.
Debt capital markets
Six issuers tapped the Asian G3 debt capital markets for $4.6 billion during the past week, slightly down on the $4.9 billion raised last week. Year-to-date volume is $38.6 billion, narrowly surpassing the previous 2012 record of $37.7 billion.
Asian Development Bank’s $2.5 billion trade through bookrunners BNP Paribas, Citi, HSBC and J.P. Morgan was the biggest trade of the week and the largest deal in the region so far in 2013.
Citi has jumped up a notch to third place in the league table ranking on the back of this deal, and also for its work on two other deals this week; Bank of India’s $498 million trade and Noble Group’s $397 million bond.
Kaisa Group Holdings’ $550 million trade was the second-biggest deal of the week, which brings G3 bond volume by Chinese issuers to a record $10.2 billion so far this year, up from just $3.4 billion in the comparable 2012 period.
The top three banks remain unchanged with HSBC topping the league table ranking with $5.7 billion in 2013, followed by Standard Chartered and Citi, respectively.
