Dealogic league table roundup, Nov 7

Bank of China completes the largest Basel III compliant Tier 2 capital bank bond on record.

Equity Capital Markets
A total of $1.5 billion has been raised in the equity capital markets through 14 deals so far this week, down 45% on the $2.7 billion raised in the same period last year. All the deals completed so far this week have been follow-on transactions, and the last time that occurred was during the last week of December 2012 ($293 million through one deal).

The largest deal so far this week is Yango Group’s $423 million follow-on through sole bookrunner Huatai Securities. The deal is the eight largest real estate sector ECM transaction in the region so far this year and brings real estate sector issuance ECM to $11.1bn in 2014 YTD and down 12% year-on-year.

Goldman Sachs continues to lead the Asia ex Japan equity capital markets league table ranking with $13.7 billion, followed by JP Morgan and Credit Suisse, respectively.

 

Asia (ex Japan) ECM Bookrunner Rankings - 2014 YTD
  Bookrunner Deal value ($m) No %share 
1 Goldman Sachs 13,714 54 7.4
2 JP Morgan 11,374 58 6.1
3 Credit Suisse 11,075 73 6.0
4 Morgan Stanley 10,990 56 5.9
5 Citi 9,685 52 5.2
6 Deutsche Bank 8,803 45 4.8
7 UBS 6,963 61 3.8
8 CITIC Securities 6,449 44 3.5
9 China Securities 5,952 23 3.2
10 Bank of America Merrill Lynch 5,094 29 2.8

 

 

Debt Capital Markets
Seven issuers have tapped the Asia ex Japan G3 bond markets for $6.6 billion so far this week, compared to the $8.5 billion raised in the same period last week.

Bank of China’s $3 billion trade through bookrunners Mizuho, JP Morgan, Deutsche Bank, Morgan Stanley, HSBC, Wells Fargo, Bank of China, Bank of America Merrill Lynch and Credit Agricole was the largest trade of the week. The deal is the biggest Basel III compliant tier 2 capital from banks globally since its debut. 

G3 issuance by Chinese banks has already reached $22.3 billion in 2014 so far, up from just $2.7 billion in the same period last year and has surpassed previous full year levels on record.

The top three banks in the league table ranking remain unchanged with HSBC leading with $22.2 billion, followed by Citi and Deutsche Bank, respectively.

 

Asia (ex Japan) DCM Bookrunner Rankings - 2014 YTD
  Bookrunner Deal value ($m) No %share 
1 HSBC 22,207 146 12.1
2 Citi 18,950 105 10.4
3 Bank of America Merrill Lynch 13,382 80 7.3
4 Deutsche Bank 13,182 76 7.2
5 JP Morgan 12,585 82 6.9
6 Standard Chartered  11,710 87 6.4
7 Goldman Sachs 9,451 46 5.2
8 Morgan Stanley 8,018 52 4.4
9 UBS 7,352 60 4.0
10 BNP Paribas 6,827 53 3.7

 

¬ Haymarket Media Limited. All rights reserved.