League table round up

Equity capital markets hold steady, while debt capital markets grind to a halt.
The Equity Capital Markets breaks through the $30 billion barrier while Woori BankÆs $1 billion trade keeps the Debt Capital Markets afloat

Equity Capital Markets

It was a bumper week in the equity capital markets with issuance reaching $4.6 billion from 23 deals, pushing total volume for the year-to-date over the $30 billion mark. Goldman Sachs continues its reign at the top of the league table rankings but the week saw Morgan Stanley and Citigroup snatch second and third places from long standing Nomura and UBS.

CNOOCÆs $1.9 billion follow on was the largest issue of the week and was led by Credit Suisse, Goldman Sachs and JP Morgan. The deal further strengthened Goldman SachsÆ position at the top and together with a $200 million convertible for IndiaÆs Jubilant Organosys, enabled sole bookrunner JP Morgan to jump five places to take fifth spot with $1.8 billion from 15 deals.

Morgan StanleyÆs involvement in several deals this week pushed the US house up two places in the rankings. The investment bank led a $1.8 billion IPO for Reliance Petroleum together with Citigroup, Deutsche Bank, Enam Financial Consultants, HSBC, ICICI, Merrill Lynch, SBI Capital Markets and UBS; an $815 million follow on for Oil & Natural Gas Corp (ONGC) with Citigroup; and Yue Yuen IndustrialÆs $166 million and China Paradise ElectronicsÆ $153 million accelerated bookbuilds on a sole basis.

Debt Capital Markets

The debt capital markets also picked up the pace this week with $1.6 billion raised from five trades. Deutsche Bank has shot to the top of the league table rankings with $1.9 billion from eight deals while UBS and Citigroup round out the top three.

Deutsche Bank dislodged UBS from the lead position on the back of a $1 billion trade for Woori Bank that was bookrun together with Goldman Sachs, Morgan Stanley and Woori Investment & Securities. Morgan Stanley climbed a notch to take out sixth place.

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