Equity capital markets
Activity in the equity capital markets reached $2.3 billion from 11 deals during the past week, down from the $4.4 billion raised in the week prior.
The biggest deal of the week was a $724 million sell-down of Bangkok Dusit Medical Services through sole bookrunner Credit Suisse. The deal marks the second-biggest healthcare ECM transaction in Asia (ex-Japan) so far this year, and the biggest ECM transaction from a Thai issuer so far in 2012. The deal is also the biggest healthcare ECM transaction from Thailand on record and helps propel Credit Suisse up a notch in the league table rankings to sixth place.
Thai ECM volume has reached $3.3 billion so far this year, up 57% on the $2.1 billion raised in the comparable 2011 period and marks the highest YTD level on record.
Debt capital markets
Eight issuers have tapped the Asian G3 debt capital markets this week for $3.1 billion during the past week, up from just $428 million raised during the same period last week.
The biggest deal of the week was Citic Pacific’s $750 million trade through UBS, Deutsche Bank, HSBC and Standard Chartered, which brings total G3 issuance from Chinese issuers to $319.1 billion so far this year, up 83% year-on-year and already surpassing the 2011 full-year volume of $289.1 billion to set a new annual record.
The top three banks in the league table remain unchanged with HSBC taking $15.1 billion, followed by J.P. Morgan and Citi.