Dealogic league table roundup, May 16

Equity capital markets and debt capital markets both experience a surge in activity.

Equity capital markets
Activity in the Asian equity markets totalled $7 billion last week (Monday to Thursday) through 22 transactions, more than triple the $1.9 billion raised during the same period last week — marking the busiest level since the week of February 4 ($7.3 billion).

IPOs led the volume this week with $4 billion raised through six issues, up from just $321 million last week and the highest weekly level since December 5, 2011 ($5.7 billion).

The biggest deal this week was a $1.8 billion IPO for Sinopec Engineering (Group) through a consortium of 13 bookrunners in what is also the fourth-biggest IPO globally so far this year.

Asian Pay Television Trust’s $1.1 billion IPO also priced last week through Macquarie, J.P. Morgan, CIMB and DBS, and marks the second-biggest IPO from a Taiwanese issuer on record.

The third-largest deal this week was China Galaxy Securities’ $1.1 billion IPO through a consortium of 21 bookrunners. It is the second-biggest IPO from China so far this year and, with 21 bookrunners, the deal has the most number of bookrunners on a IPO on record, surpassing PICC’s $3.6 billion IPO priced in November 2012 with 17 bookrunners.

UBS tops the league table ranking with $7.7 billion, followed closely by Goldman Sachs and J.P. Morgan.


Debt capital markets
Eight issuers tapped the Asian G3 bond market for $7.6 billion last week, up on $6 billion raised during the previous week and stands as the third-biggest weekly volume on record.

Volume was pushed by Pertamina’s $3.3 billion trade through bookrunners Barclays, Citi and Royal Bank of Scotland in what is the biggest G3 deal from Southeast Asia on record and the third-biggest G3 trade in the region’s oil and gas sector on record. The deal has enabled Citi to jump to third place in the league table ranking.

Southeast Asian issuers have raised a record $24.7 billion in the G3 bond markets so far this year, up slightly on the $23.7 billion raised during the same period last year.

Another notable deal to price this week was a $2 billion bond for State Grid Overseas Investment (2013) through bookrunners HSBC, Goldman Sachs, Morgan Stanley, Bank of China, ICBC, J.P. Morgan, Citi, Deutsche Bank and UBS. The deal marks the seventh-largest G3 trade from a Chinese issuer on record and the second biggest utility and energy G3 trade in Asia ex-Japan on record.

HSBC leads the league table ranking with $10.4 billion in 2013 year-to-date, followed by Goldman Sachs and Citi, respectively.


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