Equity Capital Markets
A total of $2.8 billion has been raised in the equity capital markets through 27 deals so far this week, compared to the $2.1 billion raised through 22 deals in the same period last week.
China Unicom (Hong Kong)’s $859 million accelerated offering* was the largest deal of the week through sole bookrunner Bank of America Merrill Lynch.
Accelerated offerings* in the region has reached $27.8 billion in 2014 YTD, down 20% on the $34.7bn in the same 2013 period. Chinese issuers lead accelerated offerings issuance with $9.7 billion in 2014 YTD, down 28% year-on-year. Issuance from South Korea and India follow with $4.6 billion and $3.2 billion.
Another notable transaction to complete this week is a $213 million IPO for Carabao Group through bookrunners Kasikon Securities and CIMB Group. The deal is the fourth largest Thai IPO in 2014 so far and also the fourth biggest IPO in Asia (ex Japan) from the Food & Beverage sector so far this year.
Thai issuers lead Southeast Asian IPO issuance with $2.0 billion through 29 transactions in 2014 YTD, down 40% on the $3.3 billion raised in the same 2013 period. Overall Southeast Asian IPO volume nearly halved to $5.9 billion in 2014 YTD, compared to the $12.4 billion raised in 2013 YTD.
Goldman Sachs continues to lead the Asia (ex Japan) equity capital markets league table ranking with $13.7 billion, followed by JPMorgan and Morgan Stanley, respectively.
*includes bought deals
Debt Capital Markets
Three issuers have tapped the Asia (ex Japan) G3 bond markets for $2.3 billion so far this week, compared to the $8.6 billion raised in the same period last week.
The largest deal of the week is Eastern Creation II Investment Holdings’ $1.0 billion dual-tranche bond through bookrunners JPMorgan, Industrial & Commercial Bank of China, HSBC, RBS and Bank of China.
Total G3 issuance from Chinese issuers has reached $87.9 billion in 2014 YTD, up 62% year-on-year and has already surpassed previous historical full year levels on record.
HSBC retains its top spot in the league table ranking with $23.1 billion. Followed by Citi and Deutsche Bank, respectively.