Equity Capital Markets
Following a late rush on Thursday night, issuance topped $1.3 billion from 12 offerings this week. The largest deal was a $400m GDR for Fubon Financial. Citigroup ran the books and the credit pushes it through the $3.5 billion barrier, although it still remains over $800 million behind fifth placed UBS.
More Taiwanese issuance came when Lehman Brothers priced a $280 million convertible bond for Quanta Display. The US house remains in 10th spot although is now less than $200 million behind CSFB in ninth.
JP Morgan was the biggest mover of the week surging into the top three from fifth following a $225 million accelerated convertible for Sun Pharma. The US house was sole books and now stands on $4.7 billion from 29 deals.
Debt Capital Markets
November continues to be an uninspiring month in the G3 market with no deals pricing this week. This leaves Deutsche Bank slightly ahead of Citigroup in first with $5.2 billion from 29 deals.
Next week promises to be more active with Barclays and Merrill set to bring Woori Bank and IDBI to the market for $300m apiece.
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