Equity Capital Markets
Activity in the equity capital markets picked up the pace this week with issuance totaling $3.1 billion from 14 deals, pushing volume for the year-to-date through the $40 billion barrier. UBS heads the league table rankings with $4.4 billion and is followed by Merrill Lynch and JPMorgan.
The largest deal for the week was a $1.9 billion follow on for LG Philips LCD that was bookrun by ABN AMRO Rothschild, Citigroup, Morgan Stanley and UBS. ABN AMRO's involvement enabled the bank to re-enter the top 10 rankings, while Citigroup crept up to fourth place from fifth last week.
An $884 million accelerated bookbuild for Korea's SK Corp also allowed UBS to clinch the top position in the league tables, from third spot last week. The deal was priced late last Friday with the investment bank running the books on a sole basis.
Citigroup managed to push Goldman Sachs down a notch in the table to fifth place, despite Goldman Sachs bookrunning a $460 million follow on for AU Optronics. Citi also ran the books for a $250 million convertible for Taiwan's Quanta Computer.
Debt Capital Markets
The week in the debt capital markets saw a flicker of action with $639 million raised from two issues. League table rankings remain unchanged with Citigroup still leading the pack with $3.1 billion, followed by JP Morgan and Deutsche Bank.
South Korean issuers tapped the market this week with Mizuho and JPMorgan printing a $338 million issue for Hyundai Capital Services. A $301 million deal for Korea Electric Power Corp was led by ABN AMRO, Barclays Capital and HSBC.
The coming week may see some movement in the league tables with Malaysia's State of Sarawak expected to price its $500 million issue shortly. Deutsche Bank is running the books.
To view the latest Dealogic league tables click here.
