Citigroup continued its rise in the ECM tables this week, reaching the number one spot after joining forces with UBS to run the $813 million follow on for China Steel Corp. This deal alongside a $534 million equivalent IPO for Astro in Malaysia help push UBS up one slot to fourth. Morgan Stanley continues to slide further downwards as more houses are running stock deals, leaving the convert focused bank currently struggling to maintain its position.
Debt Capital Markets
Morgan Stanley rocketed back into the top ten following a bumper week of issuance for the US house. The bank was a bookrunner for the two largest transactions of the week - a $1 billion offering for Republic of the Philippines, along with HSBC and UBS, and a $1.6 billion issue for Singapore Power, which was also led by DBS. This propelled the firm to eighth spot - a gain of 16 places from the 24th spot last week.
UBS was also able to sneak past Barclays as the UK based bank dropped out of the top ten following Morgan Stanley's meteoric rise. Deutsche Bank was also a large gainer, adding over $600 million and consolidating it's second place position ahead of KDB. Its total of $4.4 billion from 37 deals, however, is still far behind runaway leader HSBC's $7.7 billion from 68 offerings.
Syndicated Loans
HSBC saw its lead in the Asia ex Japan syndicated loan table slashed to just over $30 million as Citigroup signed two deals this week compared to the British based bank's one. Despite 10 credits closing this week there was no change in the table positioning, although Standard Chartered broke through the $3 billion barrier after signing one deal for $71 million.
To view each league table, please click the following link:
http://ap.dealogic.com/financeasia/index.htm
