Equity capital markets
Asian equity capital markets activity reached $673 million through 19 issues this week, with year-to-date issuance at $138.5 billion, down 42% year-on-year. Goldman Sachs continues to lead the field in the league table ranking with $11.4 billion, followed by Morgan Stanley and UBS.
A $132 million IPO for Chengdu Road & Bridge Engineering was the biggest issue of the week, through sole bookrunner China Merchants Bank. Atlas Resources closed a $110 million IPO through bookrunners Indo Premier Securities and UBS, and Parkson Retail Asia completed its $109 million IPO through CIMB Bank and HSBC.
Top 10 Asia ex-Japan ECM bookrunner rankings
Debt capital markets
Two Asian borrowers raised a total of $1.5 billion in the debt capital markets this week. Korea Development Bank’s $1 billion bond was the biggest trade of the week through bookrunners Bank of America Merrill Lynch, Credit Suisse, Daiwa Capital Markets, Goldman Sachs, KDB and Mizuho. The second trade was a $500 million bond for Sun Hung Kai Properties, led by sole bookrunner Standard Chartered, in what was the first G3 bond for the issuer so far this year.
The top three banks in the league table rankings remain unchanged with HSBC taking $8.9 billion, followed by Citi and Deutsche bank.
Top 10 Asia ex-Japan DCM bookrunner rankings