Equity Capital Markets
The past week was a quiet one in the equity capital markets with just 10 deals priced for a shade over $400 million. ABN AMRO priced the largest offering of the week - a $93.5 million IPO for Singaporean company Petra Foods.
This had little affect on the top 10, however, as the European house remains 12th place in the Asian ECM rankings. There was no movement in the table this week, with Goldman retaining its massive $2.4 billion lead over nearest rival Morgan Stanley. Merrill Lynch is a further $2 billion back in third spot.
After a number of high profile listings in the first half of October the market has been very quiet with only a little over $1 billion being raised since. The first week of November does not look like it will buck this trend with no major offerings due next week.
Debt Capital Markets
Issuance for October broke through the $4 billion barrier this week after three Korean banks printed deals. Chohung Bank priced the largest trade - a $400 million subordinated debt issue through bookrunners Citigroup and UBS.
This pushed second placed Citigroup up to $4.3 billion, while UBS was able to leapfrog Barclays into fourth spot. Leader Deutsche Bank kept its number one position in the table after acting as joint books with ABN AMRO on a Eur300 million deal for Kexim. The German house has a $500 million lead on its US rival with just two months of the year to go.
As the battle between the top two banks continues Deutsche Bank is teaming up with Lehman Brothers to run the books on a $165 million trade for Stats ChipPAC of Singapore. Second place Citibank is also scheduled to be active next week acting as co-lead on a $150 million transaction for Korea Water Resources Corp.
