Equity Capital Markets
This week saw the largest volume of issuance in 2005 so far with $2.8 billion being raised from 15 deals. This was boosted by the $1.4 billion follow on for Sinopec, the largest deal of the year by over $900 million. Sole bookrunner Merrill Lynch soared to the top of the book runners' league table with $1.9 billion from seven offerings. This leaves it over $900 million ahead of UBS sitting in second place. The European house acted as joint books on three IPOs this week. These include the $430 million offering for Jet Airways in India, the $137 million deal for Bursa Malaysia and the $87 million transaction for Manila Water. JP Morgan rounds off the top three with $650 million from seven deals. The big movers this week were Citigroup who jumped up 4 places from eighth to fourth on the back of its role in the Jet Airways deal and a sole mandate for ONGCs $170 million bought deal.;
Debt Capital Markets
Just under $1 billion was raised this week from two deals. This pushes total issuance through the $5 billion mark - a week later than in 2004. Merrill Lynch moved up to sixth from ninth on the back of its joint bookrunner role in the $500 million trade for China Merchants. HSBC remained in fifth place and Bank of China failed to break into the top 10 with its first deal of the year. Hyundai Capital Services printed a Yen44 billion Samurai bond through bookrunner JP Morgan. This pushed the US house up to fourth place with $815 million from four deals.
To view current Dealogic League Tables click here.
