Equity Capital Markets
A total of $4 billion has been raised in Asian equity capital markets this week through 24 deals, up on the $3.6 billion raised in the same period last week.
Follow-ons accounted for most of the issuance this week with $3.9 billion via 21 deals, compared to $3.5 billion through 24 transactions last week.
Sinotex Investment & Development’s $994 million follow-on offering through joint bookrunners Huatai Securities and CITIC Securities is the biggest deal this week, followed closely by Fuyao Glass Industry Group’s $952 million follow-on.
Goldman Sachs leads the bookrunner ranking with $4.4 billion so far this year. UBS and CITIC Securities follow with $4.3 billion and $3.5 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD | ||||
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | Goldman Sachs | 4,441 | 15 | 8.9 |
| 2 | UBS | 4,282 | 19 | 8.6 |
| 3 | CITIC Securities | 3,536 | 17 | 7.1 |
| 4 | Credit Suisse | 2,486 | 10 | 5.0 |
| 5 | China Investment Securities | 2,087 | 5 | 4.2 |
| 6 | China Everbright | 1,800 | 4 | 3.6 |
| 7 | Morgan Stanley | 1,468 | 10 | 3.0 |
| 8 | Guotai Junan Securities | 1,449 | 7 | 2.9 |
| 9 | NH Investment & Securities | 1,274 | 4 | 2.6 |
| 10 | Deutsche Bank | 1,080 | 6 | 2.2 |
Debt Capital Markets
Eight issuers have tapped the Asia ex Japan G3 debt capital market for $3.1 billion, compared to $1.1 billion issued in the same period last week. Total G3 issuance in the region has reached a record high in 2015 YTD with $54.8 billion via 96 deals, surpassing the previous record of $49.9 billion from 2013 YTD.
The largest deal this week is BOC Aviation’s $750 million investment-grade through bookrunners JP Morgan, HSBC, Bank of China and Citi.
HSBC leads the league table ranking with $6.3 billion in 2015 YTD while Citi and Deutsche Bank follow with $5.2 billion and $4.2 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD | ||||
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | HSBC | 6,330 | 37 | 11.7 |
| 2 | Citi | 5,244 | 24 | 9.7 |
| 3 | Deutsche Bank | 4,192 | 26 | 7.8 |
| 4 | JP Morgan | 3,929 | 21 | 7.3 |
| 5 | Bank of America Merrill Lynch | 3,804 | 25 | 7.0 |
| 6 | Morgan Stanley | 3,411 | 18 | 6.3 |
| 7 | Standard Chartered | 3,220 | 17 | 6.0 |
| 8 | Goldman Sachs | 2,026 | 9 | 3.8 |
| 9 | ICBC | 1,695 | 9 | 3.1 |
| 10 | Credit Suisse | 1,572 | 9 | 2.9 |
