Equity capital markets
Activity in the Asian equity markets totalled $1 billion through 15 deals so far this week, down from the $1.5 billion raised through 20 deals recorded in the same period last week. This brings 2012 volume to $61.3 billion, down from the $82.6 billion raised during the same period 2011.
A $228 million follow-on for Shanghai Synica through bookrunner Guotai Junan Securities was the biggest transaction of the week and the third-largest in the chemicals sector for the region this year.
The chemicals sector has seen $2 billion worth of ECM activity so far this year, down 60% on the record $5 billion raised in the same period of 2011. Secondary issuance in the region has reached a record $46.1 billion so far this year, up 47% from the $31.3 billion issued during the same 2011 period.
Debt capital markets
Three Asian borrowers have raised $1.3 billion in the G3 debt capital markets so far this week, almost on par with the $1.3 billion record last week, which brings total issuance to a record $67.2 billion so far this year, a 32% increase from the $51 billion achieved in the same period last year.
However, almost all this week’s volume came from a $1.25 billion trade for supranational issuer Asian Development Bank, through bookrunners Credit Suisse, Deutsche Bank, HSBC and Nomura. The development bank has so far raised $5.6 billion through seven trades, up from the $3.6 billion through 12 trades recorded in the same 2011 period.
HSBC continues to dominate the league table rankings with $10 billion, followed by J.P. Morgan and Citi.