The equity capital markets held steady this week with $128 million raised from seven issues, bringing total volume for the year so far to $53.8 billion from 571 deals û down 51% compared to the $109.6 billion worth of deals priced in the same period last year. Citi sits firmly at the top of the league tables with $4.7 billion from 19 deals, followed by Credit Suisse on $3.8 billion and UBS with $3.7 billion.
Indian issuer Austral Coke & ProjectsÆ $32 million IPO was the largest issue of the week and led by sole Bookrunner Allahabad Bank.
Several Korean deals are scheduled to price next week, including Seshin CoÆs $31 million follow-on offering via bookrunners Meritz Securities and KCIÆs $10 million follow-on via Daewoo Securities.
Debt Capital Markets
The debt capital markets saw $225 million raised from a single trade this week. Year-to-date activity stands at $16.4 billion, down 47% from $31.2 billion in the same period last year. The top three positions in the league tables remain unchanged. HSBC continues to lead the rankings with $2.6 billion from 11 deals, while Deutsche Bank and Citi take out second and third place.
Wing Hang BankÆs $225 million trade was bookrun by Deutsche Bank, Merrill Lynch, HSBC and Royal Bank of Scotland. The deal enabled Merrill Lynch to move up to the fifth place, pushing Barclays Capital down to sixth.