Equity capital markets
Activity in the equity capital markets totalled $1.2 billion during the past week through 18 transactions. That is almost half the $2.4 billion raised during the same period last week, which brings year-to-date volume to $139.9 billion in 2012, down 4% year-on-year.
The biggest transaction of the week was a $339 million follow on for Global Logistic Properties through bookrunners Citi, Goldman Sachs, J.P. Morgan and CICC. Noble Group also raised a $202 million follow-on through bookrunners Citi, Goldman Sachs and J.P. Morgan in what was the second-biggest ECM transaction in the region this week.
The deal helps push Singapore ECM volume to $5.1 billion this year, up 15% on the $4.4 billion raised in the comparable 2011 period.
UBS leads the league table rankings with $10.6 billion, followed closely by Goldman Sachs and Citi.
Notable deals slated to complete next week include Esprit Holdings’ expected $667 million rights offer and Tsui Wah Holdings’ IPO, which is estimated to raise $89 million.
Debt capital markets
Five Asian borrowers have tapped the G3 debt capital markets for a total of $2.8 billion so far this week, down slightly on the $3.3 billion during the same comparable period last week. This pushes G3 debt capital markets volume in the region to $126.8 billion so far this year, up 68% year-on-year and the highest year-to-date level on record.
The biggest transaction of the week was a $1 billion sukuk from the Republic of Indonesia through bookrunners Deutsche Bank, HSBC and Standard Chartered in what was also the fourth-biggest Indonesian G3 trade so far this year.
Indonesian G3 DCM volume stands at $11.3 billion in 2012, more than double the $5.4 billion raised in the same 2011 period and marks the highest year-to-date level on record.
HSBC leads the Asia (ex-Japan) G3 DCM bookrunner ranking with $17.3 billion, followed by J.P. Morgan and Citi, respectively.
