Equity Capital Markets
A total of $11.1 billion has been raised in the Asian equity capital market this week through 27 deals, up on the $7.4 billion raised in last week.
Follow-ons accounted for the majority of the issuance this week with $10 billion via 25 deals, compared to $5.5 billion through 25 transactions last week.
The largest deal of the week is Industrial Bank’s $2.8 billion accelerated offering though joint bookrunner Goldman Sachs and UBS, which is also the largest China block trade* deal in 2015 YTD.
Another notable deal completed this week is Haitong Securities’ $2.3 billion follow-on via bookrunners Haitong Securities, UBS, Macquarie Group and JP Morgan. The transaction stands as the fourth biggest follow-on by Chinese issuers so far this year.
Goldman Sachs continues to lead the league table ranking in 2015 YTD with $10.5 billion while UBS and CITIC Securities follow with $8.4 billion and $5.1 billion, respectively.
*Block trade includes accelerated bookbuilds and bought deals
| Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD | ||||
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | Goldman Sachs | 10,495 | 24 | 10.7 |
| 2 | UBS | 8,396 | 32 | 8.6 |
| 3 | CITIC Securities | 5,055 | 25 | 5.2 |
| 4 | Credit Suisse | 4,577 | 18 | 4.7 |
| 5 | Morgan Stanley | 4,239 | 27 | 4.3 |
| 6 | JP Morgan | 4,118 | 20 | 4.2 |
| 7 | Citi | 2,569 | 14 | 2.6 |
| 8 | China Investment Securities | 2,360 | 8 | 2.4 |
| 9 | Haitong Securities | 2,245 | 21 | 2.3 |
| 10 | Deutsche Bank | 2,069 | 14 | 2.1 |
Debt Capital Markets
Seven issuers tapped the Asian G3 debt capital markets for a total of $4.9 billion so far this week, up slightly from the $4.6 billion raised last week.
Agricultural Bank of China’s $1.3 billion USD-denominated bond transactions is the largest deal of the week and the bookrunners were Wells Fargo Securities, Agricultural Bank of China Ltd, Citi and Bank of America Merrill Lynch.
Chinese issuers have tapped the G3 bond markets for a total of $46.9 billion so far this year, up 17.5% year-on-year and also the highest YTD total on record.
HSBC maintains its lead in the league table rankings with $10.5 billion in 2015 YTD while Citi follows with $9.1 billion. JPMorgan rounds off the top three with $6.2 billion.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD | ||||
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | HSBC | 10,464 | 59 | 11.2 |
| 2 | Citi | 9,084 | 43 | 9.7 |
| 3 | JP Morgan | 6,218 | 30 | 6.7 |
| 4 | Bank of America Merrill Lynch | 6,167 | 40 | 6.6 |
| 5 | Standard Chartered | 6,090 | 31 | 6.5 |
| 6 | Deutsche Bank | 5,914 | 38 | 6.3 |
| 7 | Morgan Stanley | 5,552 | 28 | 6.0 |
| 8 | Bank of China | 3,207 | 20 | 3.4 |
| 9 | Goldman Sachs | 3,032 | 13 | 3.3 |
| 10 | ICBC | 2,875 | 14 | 3.1 |
