League table round up July 29, 2005

Ripples of activity in the Equity and Debt Capital Markets.

Equity Capital Markets

Activity in the equity markets dropped to $600 million in issuance this week after the bumper $4.2 billion raised in the previous week. UBS continues to secure the lead position in the league table rankings with $4.5 billion and is trailed by Goldman Sachs and Merrill Lynch.

Goldman Sachs made the biggest gains in the league tables with $3.8 billion from 21 deals, securing second place in the rankings from fourth last week. The US house ran the books on a $250 million convertible for Singapore's Chartered Semiconductor Manufacturing late last week, in addition to Infrastructure Development Finance's $315 million IPO this week together with Kotak Mahindra Finance.

Citigroup edged up the rankings to take the fourth spot with $3.7 billion from fifth position last week. The US banking giant was the sole bookrunner for Chinese miner Jiangxi Copper's $113 million follow on.

In the week ahead, a $250 million placement for PT Medco Energi International is scheduled to price, with Credit Suisse First Boston and Merrill Lynch running the deal. The Swiss investment bank is currently placed in eighth position and the US house in third.

Debt Capital Markets

It was another lacklustre week in the debt capital markets with $540 million raised from two issues. JPMorgan overtook Citigroup to take the top spot in the league tables with $3.3 billion, while Citigroup and Deutsche Bank round out the top three.

JPMorgan printed a $350 million issue for Thailand's PTT, while Barclays Capital and BNP Paribas ran the books for Hong Leong Bank's $200 million deal. BNP climbed up a notch in the rankings to ninth place with $829 million from tenth position last week and Barclays remains in sixth.

Despite leading Sarawak International's $600 million issue on a sole basis late last week, Deutsche Bank was pushed down to third place from second, by JPMorgan's rise to the top.

Merrill Lynch also slid down a ranking this week to finish at tenth place. Coming up, Citigroup and Goldman Sachs are expected to price a $400 million dual tranche deal for Chartered Semiconductor shortly. Taiwan's United Microelectronics Corp (UMC) has announced it will issue up to $500 million in bonds overseas, a mandate has yet to be announced.

To view the latest Dealogic league tables click here.

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