Equity capital markets
Activity in the equity capital markets totalled $$1.1 billion through 11 transactions during the past week, almost on par with the $1.1 billion raised in the same period the previous week.
The week’s biggest deal was Permira’s selldown in Galaxy Entertainment Group through an accelerated bookbuild for $875 million through sole bookrunner UBS in what was the fifth-biggest ECM deal in Macau on record.
The deal helps bump UBS up a notch to lead the league table rankings with $10.5 billion. Goldman Sachs follows at a close second with $10.2 billion and Citi with $9.5 billion.
Deals slated to complete next week include KNM Group’s estimated $101 million follow-on and Wooriro Optical Telecom’s IPO for an expected $18 million.
Debt Capital Markets
Four Asian borrowers have tapped the G3 debt capital markets for a total of $3 billion so far this week, almost double the $1.6 billion raised in the last week prior.
Hutchison Whampoa brought the biggest bond deal of the week — a $1.5 billion trade through bookrunners Citi, Goldman Sachs, HSBC and Bank of America Merrill Lynch was the biggest trade of the week. The deal is also the second-biggest trade from a Hong Kong issuer so far this year, and the ninth-largest G3 deal on record for the territory.
Hong Kong G3 DCM volume has reached a record $21.8 billion in 2012 year-to-date, up from just $3.1 billion in the same 2011 period and has already surpassed previous full year levels.
HSBC leads the DCM bookrunner ranking with $16.6 billion, followed by Citi and J.P. Morgan, respectively.