Equity Capital Markets
A total of $6.9 billion has been raised in the Asian equity capital markets so far this week through 18 deals, up from $4.3 billion raised in the same period last week, and brings year-to-date issuance to $48.0 billion in 2014, down 3% year-on-year.
The largest deal of the week was a $7.4bn* follow-on for BOE Technology Group through bookrunners China Securities, Southwest Securities, Guosen Securities and Changjiang Finance Services. The deal is also the biggest ECM transaction globally in 2014 so far.
China Securities has climbed to second spot in the league table ranking off the back of the deal. Goldman Sachs continues to lead with $3.6 billion and HSBC follows in third place.
*Includes non-rank eligible portion
Debt Capital Markets
Four issuers have tapped the Asia ex-Japan G3 bond markets for $6.3 billion, more than double the $2.9 billion raised in the same period last week, and brings regional issuance to $50.2bn in 2014 YTD, the highest YTD level on record and up narrowly on the $50.0bn raised in the same 2013 period.
Volume was boosted by a Sinopec Group Overseas Development (2014)’s $5.0 billion multi-tranche trade via a consortium of 13 bookrunners. The deal is the biggest USD-denominated bond by a Chinese issuer on record and the biggest in Asia ex-Japan since Hutchison Whampoa International (03/33)’s $5.0 billion bond priced in November 2003.
Chinese SOE’s have tapped the G3 bond markets for a total of $11.5 billion so far this year, the highest YTD level on record and more than quadruple the $2.7 billion raised in the same period last year.
Citi has taken the lead in the league table ranking with $6.4 billion,followed by HSBC and Deutsche Bank.
