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Nov 18, 2015 9:15 EST

Asia Pacific (ex Japan) International Construction Sector DCM Volume at Highest YTD Level on Record

iCrowdNewswire - Nov 18, 2015

Asia Pacific (ex Japan) International Construction Sector DCM Volume at Highest YTD Level on Record

  • Asia Pacific (ex Japan) International Construction sector DCM volume has reached a record $9.2bn in 2015 YTD, up 23% year-on-year. Activity was flat at 27 deals compared to last YTD

 

o      Despite the increase, overall Asia Pacific (ex Japan) construction sector volume is down 34% to $83.7bn from the 2014 YTD record ($126.0bn). International issuance accounts for 11% of the overall volume, the highest YTD share since 2007 (12%) and up from 6% in 2014 YTD

 

  • China accounts for more than half of the Asia Pacific (ex Japan) International Construction sector volume with a record $4.8bn in 2015 YTD, up 29% on 2014 YTD ($3.7bn). Australia followed with $2.3bn and Singapore with $1.2bn, and both nations saw their volume increase 19% and a 5% year-on-year to new YTD highs, respectively

 

o      China Communications Construction priced its inaugural USD-denominated $1.1bn perpetual Reg S deal on April 14 which stands as the largest international construction sector bond in the region on record and the largest USD-denominated corporate hybrid bond by a Chinese issuer on record

 

  • USD-denominated bonds lead the regional International Construction sector bond volume in 2015 YTD with $6.3bn, the highest YTD level on record. SGD and EUR denominated issuance also reached record levels with $1.4bn and $779m, respectively. In contrast, Offshore RMB issuance fell 68% year-over-year to $269m, the lowest YTD since 2012 ($100m)

 

  • JPMorgan led the Asia Pacific (ex Japan) International Construction sector DCM bookrunner ranking with a 12.4% market share in 2015 YTD, followed by DBS and UBS with 10.5% and 10.0%, respectively

 

Contact Information:

Derek Li

Via iCrowdNewswire
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