Dealogic league table roundup, September 30

Regional equity and debt issuance at record nine-month levels.

Equity Capital Markets

Volumes in the equity capital markets reached $7.5 billion this week from 31 issues – driven by Goldman Sachs’s sale of a stake in Industrial and Commercial Bank of China (ICBC), which raised $2.2 billion and was the largest deal of the week. Goldman Sachs continues to head the league table ranking on $14.4 billion, with China International Capital Corp (CICC) and Morgan Stanley rounding out the top three on $11.2 billion and $11.1 billion respectively.

Regional issuance in the first nine months of the year has reached $184.3 billion – up 80% year-on-year and the highest first-nine-month level on record.

Billion Express Investments, a unit wholly-owned by China Unicom, also raised $1.8 billion from a convertible bond via bookrunners CICC, Goldman Sachs and Nomura. CICC moved up a rung in the league table on the back of this deal and the $401 million IPO for SITC International Holdings, which it led together with Citi.

J.P. Morgan also climbed a notch in the rankings to sit in fifth place with $8.8 billion, following a $600 million convertible for Franshion Capital that it led together with BOC International, Deutsche Bank and Standard Chartered Bank; and Midas Holdings’ $154 million fully-marketed deal that it arranged together with Credit Suisse.

Deutsche Bank also edged up a place to take the ninth spot with $5.3 billion on the back of Franshion Capital’s equity-linked issue.

Deals scheduled to price next week include Global Logistic Properties’ $1.6 billion IPO via bookrunners CICC, Citi, DBS, J.P. Morgan, UBS and Nomura; a $864 million follow-on offering for Xinjiang Goldwind Science & Technology led by CICC, Citi, Goldman Sachs, Haitong Securities and J.P. Morgan; Mongolian Mining’s $650 million IPO bookrun by Citi and J.P. Morgan; and a $501 million IPO for Cebu Air via Citi, Deutsche Bank and J.P. Morgan.

Debt Capital Markets

The final week of the third quarter saw a total of $3.2 billion raised from the debt capital markets – the highest weekly volume since early June. The deal activity of eight issues was also at an eight-week high.

Deutsche Bank maintains its position at the top of the league table with $5.6 billion, just ahead of HSBC on $5.5 billion and J.P. Morgan with $5.1 billion. Regional DCM volume has climbed to $62.1 billion in the first nine months of 2010 – the highest level for the first nine months ever. It is also the first time that issuance has pushed through the $60 billion mark over the Q1-Q3 period.

The Democratic Socialist Republic of Sri Lanka’s $1.0 billion bond was the largest deal of the week and led by Bank of America Merrill Lynch, HSBC and Royal Bank of Scotland. HSBC jumped up a couple of notches in the rankings, having also worked on deals for Hongkong Land ($600 million), together with Standard Chartered and UBS; Hyundai Capital America ($500 million), with Barclays Capital, Citi and J.P. Morgan; and the Republic of the Philippines ($200 million), with Citi and UBS.

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