Equity Capital Markets
A total of $3.9 billion was raised from the equity capital markets this week, split on 21 issues. Goldman Sachs continues to lead the field in the league table rankings on $10.9 billion, followed by China International Capital Corp (CICC) on $10.24 billion and Morgan Stanley close behind on $10.19 billion.
Ningbo Port’s $1.1 billion IPO was the biggest issue of the week and led by Bank of China. The Chinese house remains in seventh place in the league table with $7.3 billion.
Morgan Stanley climbed up a notch in the rankings on the back of China National Building Material’s $492 million accelerated bookbuild, which it led together with CICC; and a $300 million convertible for LG Uplus Corp that the US house ran on a sole basis.
Issues scheduled to price next week include: a $1.2 billion fully marketed deal for Thai Airways International via Finansa, Morgan Stanley and Phatra Securities; a $302 million rights issue for Taihan Electric Wire led by Tong Yang Securities, Daishin Securities, Hyundai Securities, Daewoo Securities, Dongbu Securities, Woori Investment & Securities and Hana Bank; and Boshiwa International’s $285 million IPO via Bank of Communications, Credit Suisse, Deutsche Bank and UBS.
Debt Capital Markets
The debt capital markets saw two deals raise a total of $1.1 billion this week. The top 10 league table rankings remain static with Deutsche Bank on $5.5 billion followed by UBS and HSBC, both on $4.7 billion.
Korea Finance Corp's $750 million bond was the biggest issue of the week and led by BNP Paribas, Barclays Capital, Korea Development Bank, Credit Suisse and Citi. Road King Infrastructure also raised $350 million via bookrunners J.P. Morgan and DBS.