League Table Round Up November 26

Convertible bonds dominate equity capital markets while debt capital markets are all quiet.

Equity Capital Markets

A total of $1.5 billion was issued this week, moving volume for the month to $6.6 billion from 84 deals. This makes it the highest month of the second half, eclipsing October by $300 million.

The largest deal of the week was the $850 million convertible bond run by JPMorgan, Merrill Lynch and UBS for CNOOC. These three currently occupy third, fourth and fifth respectively with UBS now standing $800 million ahead of Citigroup in sixth.

Equity linked transactions stole all the headlines this week with Chunghwa Picture Tubes raising $225 million through ABN AMRO. The Dutch house remains in 11th place, just $100 million behind Lehman Brothers in 10th. Air China will price its $800 million to $1 billion IPO in early December but there are only a handful of small offering scheduled for next week. The largest of these comprises the $100 million IPO for China Shineway Pharmaceutical.

Debt Capital Markets

The G3 market was quiet this week as the two scheduled deals for Woori Bank and IDBI run by Barclays and Merrill Lynch did not price.

Deutsche Bank still narrowly leads Citigroup by just over $300 million with five weeks of the year remaining.

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