Equity Capital Markets
The equity capital markets continue to hold strong as the year-end approaches, with total issuance reaching $2.3 billion from 22 deals. Morgan Stanley has increased its lead at the top of the league tables with almost $10 billion from 38 issues and is trailed by Goldman Sachs and UBS.
Morgan Stanley strengthened its dominance in the league tables through its involvement in the two largest deals of the week. The US house ran the books for LG Philips LCD's $730 million bought deal, as well as Suntech Power Holdings' $455 million IPO together with Credit Suisse First Boston.
Although there is a margin of $2 billion between first and second place in the rankings, little separates second and third. With only a $79 million differential between Goldman Sachs and UBS it could be a race to see which banks round out the top three for 2005.
Debt Capital Markets
Activity in the debt capital markets dropped back to $255 million from two trades this week as the market winds down for the year. Citigroup continues to hold onto first place in the league table rankings with a $265 million lead over Deutsche Bank in second place and JP Morgan in third.
Deutsche Bank narrowed the gap slightly by printing a $250 million trade for Thailand's Advance Agro together with ABN AMRO, as well as an $8.3 million deal for KDB. ABN AMRO re-entered the top 10 to take the tenth spot.
To view the latest Dealogic league tables click here.
