Dealogic roundup

Dealogic league table roundup, May 11

Sinopec Group Overseas Development’s $3 billion trade is the fourth-biggest G3 deal in the region on record, helping HSBC to stay on top of the DCM league table.

Equity capital markets
Activity in the Asian equity markets totalled $772 million from 16 deals so far this week, down from $3.5 billion recorded during the previous week, marking the lowest weekly level since the week of Jan 2 ($164 million). This brings the 2012 total to $58.3 billion, down 19% from the $72.3 billion raised during the same period last year.

A $230 million follow on for Tempo Scan Pacific through sole bookrunner HSBS was the biggest deal of the week. It is also the biggest healthcare equity deal in the region so far this year and the biggest-ever in Indonesia.

Indonesia ECM volume stands at $1 billion so far this year, down 56% on the $2.3 billion recorded in the same 2011 period. That is the lowest weekly level since 2009 ($139 million).

The top three banks in the league table remain unchanged with Goldman Sachs taking $5.8 billion, followed by UBS and Citi.

Top 10 Asia ex-Japan ECM bookrunner rankings

    Bookrunner parents Value ($m) No. %
  1 Goldman Sachs 5,821 16 10
  2 UBS 4,497 27 7.7
  3 Citi 4,321 16 7.4
  4 Bank of America Merrill Lynch 3,381 16 5.8
  5 J.P. Morgan 2,973 14 5.1
  6 Morgan Stanley 2,914 12 5
  7 Citic Securities 2,262 11 3.9
  8 Guosen Securities 2,167 17 3.7
  9 Deutsche Bank 1,861 12 3.2
  10 Credit Suisse 1,777 12 3.1

 


Debt capital markets
Six Asian borrowers have raised $4.8 billion in the G3 debt capital markets so far this week, twice the $2.4 billion raised last week, which brings year-to-date volume to $64.7 billion, up 38% on the $46.8 billion achieved in the comparable 2011 period, which makes it the highest level on record for this point in the year.

The biggest deal of the week was a $3 billion trade for Sinopec Group Overseas Development through bookrunners Citi, HSBC, Bank of China, Barclays, Goldman Sachs, J.P. Morgan, Mizuho and UBS. It is the second biggest G3-denominated transaction of the year, just behind Asian Development Bank’s $3 billion trade completed in January 2012. The deal also marks the fourth-biggest G3 trade in the region on record.

G3 issuance from the oil and gas sector has reached $10.2 billion through nine trades so far this year, up from the $6.1 billion raised during the same period in 2011, and represents the highest year-to-date level on record.

HSBC continues to dominate the league table rankings with $9.7 billion, followed by J.P. Morgan and Citi.

Top 10 Asia ex-Japan DCM bookrunner rankings

    Bookrunner parents Value ($m) No. %
  1 HSBC 9,713 45 15
  2 J.P. Morgan 7,713 38 11.9
  3 Citi 5,683 28 8.8
  4 Standard Chartered 5,569 28 8.6
  5 Goldman Sachs 4,632 17 7.2
  6 Barclays 4,041 15 6.3
  7 Morgan Stanley 3,788 21 5.9
  8 Bank of America Merrill Lynch 3,645 21 5.6
  9 Deutsche Bank 3,630 25 5.6
  10 UBS 3,117 20 4.8

 

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