Dealogic league table roundup, May 24

Vedanta Resources completes the largest high-yield bond in Asia ex-Japan in 2013 year-to-date.

Equity capital markets
The Asian equity markets have raised $4.3 billion so far this week through 19 transactions, down from the $7.2 billion raised in the same period last week and bringing year-to-date volumes to $71.3 billion, up 16% year-on-year.

The largest deal this week was a sell-down by Goldman Sachs in Industrial & Commercial Bank of China through a $1.1 billion accelerated offering. The deal marks the sixth-largest ECM deal from a Chinese issuer in 2013 year-to-date and the also the fourth-biggest accelerated offering in the region so far this year.

There have been 97 accelerated offerings raising a combined total of $21.1 billion in Asia ex-Japan so far this year, compared with $23.6 billion through 58 transactions. Deal activity at 97 deals is the highest year-to-date level on record.

The only IPO to complete this week was a $549 million deal for Langham Hospitality Investment through bookrunners Citi, Deutsche Bank and HSBC, and marks the sixth-biggest IPO in Asia (ex Japan) in 2013 year-to-date.

Goldman Sachs is back at the top of the league table ranking with $8.9 billion through its work in the ICBC selldown and also Keppel Reit’s $220 million follow-on. UBS and J.P. Morgan follow in second and third place, respectively.


Debt capital markets
Four issuers have tapped the Asian G3 bond marker for $3.3 billion during the past week, down on the $7.6 billion raised in the previous week.

The biggest deal of the week was a $1.7 billion trade for Vedanta Resources through bookrunners Standard Chartered, J.P. Morgan, Deutsche Bank, Royal Bank of Scotland, Barclays, Citi, Bank of America Merrill Lynch in what is the third-largest G3 trade from an Indian issuer on record and the largest high-yield bond in the region in 2013 year-to-date.

Indian issuers have tapped the G3 bond markets for a record $9.7 billion so far this year, surpassing previous annual year volume and more than four times the $2 billion raised in 2012 year-to-date.

HSBC leads the league table ranking with $10.5 billion in 2013 year-to-date, followed by Goldman Sachs and Deutsche Bank, respectively.


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