Equity Capital Markets
Equity capital markets issuance rose to $3.6 billion from 19 deals this week – the highest weekly volume seen in a month. China International Capital Corp takes the lead position in the league table ranking with $8.4 billion, followed by Citic Securities and Goldman Sachs on $8.1 billion and $7.8 billion respectively.
China Everbright Bank’s $2.8 billion IPO was the biggest issue of the week and the second largest IPO from China this year, behind Agricultural Bank of China’s $20.8 billion offering last month. China International Capital Corp catapulted to the top of the league table from fifth place last week, having led the deal alongside joint bookrunners China JianYin Investment Securities and Shenyin & Wanguo Securities.
Berau Coal Energy also raised $153 million from an IPO through bookrunners Credit Suisse, Danatama Makmur, J.P. Morgan and Recapital Securities. J.P. Morgan maintained fourth place in the ranking with $7.6 billion while Credit Suisse remained on the 10th rung with $4.1 billion.
Deals scheduled to price next week include an $832 million rights issue for Tebian Electric Apparatus Stock – TBEA, led by Huarong Securities and Orient Securities.
Debt Capital Markets
Three borrowers raised a total of $1.8 billion in the debt capital markets this week, pushing year-to-date volume over the $50 billion mark. Deutsche Bank maintains top place in the league table ranking with $5.3 billion, followed by Morgan Stanley and HSBC on $4.34 billion and $4.27 billion respectively.
Asian Development Bank’s $1 billion bond was the largest trade of the week, led by Morgan Stanley and UBS. Morgan Stanley jumped to the second rung in the ranking from fourth place last week, having also led a $250 million deal for KWG Property Holding with Standard Chartered Bank; while UBS climbed up a notch to fifth place with $3.9 billion.
