Equity Capital Markets
It was a quiet week in the equity capital markets with issuance dropping to $287 million after the $1.5 billion raised last week. Merrill Lynch still tops the league table rankings with $3.7 billion from 19 deals with JPMorgan and UBS rounding up the top three.
Goldman Sachs was the only mover in the league tables, creeping up to fourth place from fifth position last week. The US investment bank was the sole bookrunner for a $171 million IPO for Focus Media Holdings.
Debt Capital Markets
The debt capital markets saw $2.3 billion raised from five deals this week, compared to a total of $747 million in issuance last week. The top three leaders of the league table rankings remain unchanged, with Citigroup at the helm followed by JPMorgan and Deutsche Bank.
Export-Import Bank of China's (Chexim) $1 billion issue provided almost half of the funds raised and was bookrun by BNP Paribas, Citigroup, HSBC and Merrill Lynch. HSBC crept up a notch in the league tables to fifth place with $1.9 billion, while Merrill Lynch re-entered the top 10 to take the ninth spot with $800 million.
HSBC's movement up the rankings was also aided by its sole involvement in the $500 million issue for PCCW-HKT. Merrill Lynch also ran the books for KT Corp's $400 million trade, together with Goldman Sachs, JPMorgan and UBS.
Credit Suisse First Boston was another bank to climb up a position in the league tables, standing in seventh place with $1.1 billion from eight deals. The swiss bank led the books with UBS for GT-2005 Bonds' $325 million issue. Coming up, a $500 million trade for Malaysia's Sarawak International will be marketed to investors next week. Deutsche Bank, currently sitting in third place in the league tables, is running the books on a sole basis.
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