Equity Capital Markets
The equity capital markets bounced back this week with $3.2 billion raised from 27 issues. Goldman Sachs still sits at the top of the league table rankings with $4.7 billion from 16 deals although Citigroup narrowed the gap somewhat by clinching second place and pushing Morgan Stanley down to third.
Sun Hung Kai PropertiesÆ $1 billion bought deal was the largest issue of the week and led by Citigroup. The US banking giant was also involved in Inotera MemoriesÆ $421 million follow on together with Morgan Stanley as well as leading Goldcosmos InvestmentsÆ $182 million convertible on a sole basis. The deals enabled Citigroup to jump two places to take the second spot in the league tables with $3.5 billion from 25 issues.
JP Morgan managed to climb a notch to fourth place with $2.2 billion on the back of Aluminium Corp of China (Chalco)Æs $602 million accelerated bookbuild together with China International Capital Corp. Merrill Lynch was also another mover in the rankings, nudging up a place to sit in ninth position after running the books for Singapore PetroleumÆs $245 million bought deal.
Champion REITÆs $850 million IPO is scheduled to price next week with Citigroup, JP Morgan and Merrill Lynch running the books.
Debt Capital Markets
The debt capital markets remained at a standstill for the second week in a row with zero issuance.