Equity Capital Markets
A total of $2.0 billion has been raised in the Asian equity capital markets this week through 18 transactions, down from the $7.5 billion raised last week, and brings year-to-date volume to $104.1 billion, down 11% year-on-year.
The largest deal of the week was a $744 million follow-on for Posco through bookrunners Bank of America Merrill Lynch and Goldman Sachs. The deal stands as the biggest South Korean ECM deal so far this year and the third biggest metal and steel ECM deal in the region so far this year. The deal helps push BofA Merrill up two notches in the league table ranking to fifth place in 2013 YTD
Asia (ex Japan) ECM volume in the metal and steel sector has reached $6.7 billion so far this year, more than triple the $1.7 billion raised in the same period last year.
Goldman Sachs continues to lead the league table ranking with $12.6 billion in 2013 YTD, followed by UBS and JPMorgan, respectively.
Debt Capital Markets
A total of $5.0 billion has been raised in the Asian G3 debt capital markets this week through seven issuers, compared with the $3.5 billion raised in the same period last week and marks the highest weekly volume since May 13th ($7.6 billion).
A $1.5 billion trade by Perusahaan Penerbit SBSN Indonesia III through bookrunners Standard Chartered Bank, Deutsche Bank and Citi was the largest deal of the week and marks the third largest G3 issuance from Indonesian issuers in 2013 YTD.
Indonesian issuers have tapped the G3 bond markets for $12.0 billion so far this year, up 31% year-on-year and the highest YTD level on record.
The other notable deals include a $998 million trade for Export-Import Bank of Korea through bookrunners Mizuho, Goldman Sachs, Deutsche Bank, HSBC, Citi and BofA Merrill.
National Savings Bank also completed a $750 million trade for through bookrunners HSBC, Barclays and Citi which stands as the nation’s fourth largest G3 bond on record.
Citi climbed to third place in the league table ranking this week while HSBC and Deutsche Bank continue to remain at the top two spot.
