It was a dismal week in the equity capital markets with $28 million raised from six issues û the lowest weekly level so far this year. Citi remains at the top of the ranking with $4.9 billion from 20 issues, followed by UBS with $3.8 billion and Credit Suisse on $3.7 billion.
Hindalco IndustriesÆ $928 million follow-on offering, which priced late last week via bookrunners Citi, Deutsche Bank, Merrill Lynch, RBS and SBI Capital Markets, saw Merrill Lynch move up the league table to fifth place from seventh, while Deutche Bank climbed up a notch to the seventh spot.
Deals scheduled to price next week include Tata MotorsÆ $940 million follow-on led by Citi, ICICI Bank, JM Financial and J.P. Morgan; and a $437 million IPO for Renhe Commercial Holdings via Bank of China, HSBC, Morgan Stanley and UBS.
Debt Capital Markets
It was another silent week in the debt capital markets for the fifth week running. HSBC, Barclays and Deutsche Bank take out the top three spots in the league table ranking with $2.6 billion, $2.5 billion and $2.2 billion respectively.