Equity Capital Markets
A total of 22 deals were priced last week with convertible issues once again dominating accounting for four of the top five biggest offerings structured as equity-linked transactions. The table remained identical to last week's edition, Goldman Sachs remains in top position with $3.2 billion, while Morgan Stanley remains hot on its heels just $23 million behind.
Merrill Lynch is still in third spot, although UBS is now only $250 million back in fourth place. Deutsche Bank ran the books on the largest issue of the week -& a $225 million convertible bond for Taishin Financial Holdings - as well as a $125 million deal for Tata Teleservices.
This left the German house in sixth place, but it has closed the gap on JPMorgan to a little over $350 million.
Debt Capital Markets
G3 debt issuance has slowed down considerably from the start of the year and it was another slow week with just two deals coming to the market. UBS maintains its number one ranking, followed by Citigroup in second, despite neither bank being involved in either of the week's deals.
Deutsche Bank leapfrogged JP Morgan into third after acting as joint bookrunner with Morgan Stanley on the $200 million tap for the Republic of the Philippines. Credit Suisse First Boston and JPMorgan ran the books on the $150 million trade for Korea Midland Power.
This was not enough to prevent JPMorgan sliding down to fourth, but it allowed Credit Suisse First Boston to reclaim fifth spot back of HSBC.
To view current Dealogic league tables Click Here.
