A total of $4.1 billion was raised in the markets this week, pushing year-to-date volume over the $32 billion mark, up 15% compared to the same period last year. Brisk activity in the equity capital markets late last week and this week saw some rearrangement at the top of the league table rankings û UBS snatched first place from Goldman Sachs with $4.8 billion from 27 deals, followed by Goldman Sachs on $4.1 billion and Morgan Stanley with $4.0 billion.
China Petroleum & Chemical Corp û SINOPECÆs $1.5 billion convertible was the largest issue of the week and led by Lehman Brothers and Goldman Sachs. Lehman Brothers climbed into the top 10, sitting in tenth place with $789 million.
UBS clinched the number one spot on the back of Country Garden HoldingsÆ $1.7 billion IPO bookrun together with Morgan Stanley that was priced last Friday; China MolybdenumÆs $943 million IPO also led with Morgan Stanley; and Nine Dragons Paper (Holdings)Æs $260 million bought deal run on a sole basis. Morgan Stanley also ran a $41 million follow-on offering for EVA Precision Industrial Holdings and jumped into the top three from fifth place last week.
China CITIC BankÆs $5.0 billion IPO is scheduled to price imminently via bookrunners China International Capital Corp, CITIC Group, Citigroup, HSBC and Lehman Brothers. Citigroup currently sits in fifth place and HSBC in ninth. The $1.6 billion A-share portion, however, will not be eligible for league table credit.
Debt Capital Markets
The debt capital markets perked up this week with $1.6 billion raised via four trades. Total year-to-date volume stands at $14.6 billion, up 10% compared to the same period in 2006.
Deutsche Bank continues to head the league table rankings with $3.2 billion from 14 deals, followed by Citigroup with $2.9 billion and UBS on $1.7 billion.
The largest deals of the week were GS Caltex CorpÆs $500 million trade led by Barclays Capital, Citigroup, Deutsche Bank and Goldman Sachs; and National Agricultural Cooperative FederationÆs $500 million deal run by ABN AMRO, BNP Paribas, Citigroup and HSBC.
