Dealogic roundup

Dealogic league table roundup, Sep 14

Asian borrowers rush to issue new bonds ahead of key central bank announcements, pushing debt capital markets to third-busiest week this year.

Activity in the equity capital markets totalled $1.1 billion through 15 issues during the past week, down from the $5.6 billion raised during the previous week.

Emirates Telecoms’s $510 million sell-down in XL Axiata through an accelerated offering was the biggest deal of the week and is also the biggest Indonesia ECM deal to complete so far in 2012. The bookrunners were J.P. Morgan and Morgan Stanley.

This brings total Indonesia ECM volume to $2.7 billion so far this year, down 25% from the $3.6 billion raised during the same 2011 period.

A $98 million follow-on for Kepco Plant Service & Engineering through bookrunners Citi, Daewoo Securities and Samsung Securities was the second-biggest deal this week.

UBS continues to lead the equity capital markets league table ranking with $7.6 billion, followed by Goldman Sachs and Citi. HSBC propels to 10th place in the league table rankings on the back of Siemens’ $48 million follow-on and Parkson Retail Asia’s $40 million follow-on transaction.


Debt capital markets
Ten issuers tapped the Asian G3 debt capital markets this week for $5.2 billion, more than double the $2.3 billion raised through four trades in the week prior, marking the third-highest weekly level so far this year behind the weeks of January 9 ($7.8 billion through nine trades) and April 23 ($6.6 billion through 11 trades).

The biggest deal of the week was a $1 billion trade for PTT Global Chemical through bookrunners Barclays, Goldman Sachs, Royal Bank of Scotland and Standard Chartered. The deal was also Thailand’s third-largest G3 DCM bond on record and pushes G3 DCM issuance in the nation to $3.1 billion this year, which is another record.

The top three banks in the league table remain unchanged with HSBC leading, followed by J.P. Morgan and Citi.

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