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
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