Equity Capital Markets
Equity capital markets issuance continued at an even pace this week, raising $7.8 billion from 23 transactions; up 3% compared to last week. Regional issuance in 2009 so far reached $131.7 billion -- up 61% year-on-year -- while deal activity is up 45% at 1,141.
Morgan Stanley and UBS remain at the top two spots in the league table rankings with $11.6 billion and $11.4 billion respectively. J.P. Morgan jumps up a position and overtakes Goldman Sachs to sit in third place with $10.4 billion.
China Minsheng Banking Corp's $3.9 billion follow-on was the largest deal of the week. Bank of China, China International Capital Corp, Haitong Securities, Macquarie Group and UBS led the transaction.
DBS, Deutsche Bank, Credit Suisse and J.P. Morgan ran the books for CapitaMalls Asia's $1.8 billion IPO, the second largest issue of the week and the biggest IPO from Singapore on record.
Deals scheduled to price next week include a $245 million rights issue for First Pacific via bookunners Credit Suisse, HSBC and Standard Chartered Bank; and China Forestry Group's $179 million IPO led by Standard Chartered Bank and UBS.
Debt Capital Markets
There was a single trade in the debt capital markets this week -- Temasek Financial's $500 million bond led by Deutsche Bank, Goldman Sachs and Morgan Stanley.
The top three league table rankings remain unchanged with Deutsche Bank leading on $8.9 billion, followed by HSBC and Barclays Capital with $7.5 billion and $5.4 billion respectively.
Year-to-date volume stands at $55.0 billion -- more than triple the $16.7 billion raised in the same period in 2008.