Equity capital markets
Activity in the Asian equity markets reached $1.1 billion through 12 deals during the past week, down 68% compared to the $3.4 billion raised during the same period last week and bringing year-to-date total volume in the region to $33.9 billion, up 28% year-on-year.
A $299 million follow-on for Ayala Land was the biggest ECM transaction of the week through bookrunner UBS.
Asia ex-Japan ECM volume in the real estate sector is off to a record start in 2013 with $5.5 billion of issuance so far, more than triple the $1.5 billion raised during 2012. Southeast Asia accounts for 69% of total issuance with $3.8 billion in 2013.
Goldman Sachs continues to lead the league table ranking with $6.9 billion, followed by UBS and J.P. Morgan.
Debt capital markets
Nine issuers have tapped the Asian G3 debt capital markets for $4.9 billion during the past week, up from the $2.6 billion raised in the last week prior and marks the busiest weekly level since January 28 ($6.8 billion through 19 deals).
The biggest deal of the week was a $1 billion trade for Bharti Airtel through bookrunners Barclays, BNP Paribas, Citi, Deutsche Bank, HSBC, Standard Chartered and UBS. The deal is the largest Indian G3 trade since State Bank of India’s $1 billion trade completed in July 2012 and helps push India G3 DCM volume to $3.5 billion, up 77% year-on-year.
AIA’s debut $1 billion trade was the other large deal of the week, through bookrunners Deutsche Bank, Morgan Stanley, ANZ, HSBC, Standard Chartered, BNP Paribas, DBS and J.P. Morgan in what is the biggest trade from Hong Kong so far this year.
The top three banks remain unchanged with HSBC topping the league table ranking with $4.7 billion in 2013, followed by Standard Chartered and UBS, respectively.
