• Cross-Border M&A activity totals $883.6 billion, up 127% compared to YTD 2013
• Japan M&A activity decreases 12% compared to year ago levels
• Australia ECM hits $19.6 billion so far in 2014, up 92% compared to last year
• JP Morgan falls to fifth place for worldwide M&A advisory during YTD 2014, down three spots from a year ago
• With a gain of 1.1 market share points, RBC Capital Markets moves into Top 10 for Global ECM for YTD 2014
• HSBC, Citi and Credit Suisse are only Top 10 firms to see global DCM market share gains this year
This week's $330 million convertible bond offering from AOL Inc pushed the volume of global convertible debt issuance to $66.9 billion for year-to-date 2014, a 21% increase compared to a year ago and the strongest period for issuance in the asset class since 2008. Technology issuers lead year-to-date activity with 16.5% of volume, followed by energy & power and financials with 13% and 12%, respectively. Companies in the United States, China and Japan account for 65% of volume so far this year.
A $4.5 billion note offering from UBS and American Express Capital Corp's $1.9 billion corporate bond offering brings year-to-date global DCM issuance in the financial sector to $1.8 trillion, a 6% increase compared to last year.
A $1.7 billion three-part global bond offering from CBS Corp brings investment grade corporate debt in the media and entertainment sector to $22.2 billion, a 20% decline compared to this time last year and the slowest year-to-date period since 2011. Cable and broadcasting companies account for 61% of overall media volume this year, up from 56% during year-to-date 2013
Equity capital markets activity from Canadian companies reached $15.6 billion this week with a $500.4 million follow-on offering from Franco-Nevada Corp, which pushed Canada ECM up 60% compared to year-to-date 2013 ($9.8 billion).
The $3.5 billion bid for Comdata Inc by FleetCor Technologies and a $1.7 billion offer for Santa Clara, California- based OmniVision Technologies by an investor group led by China's Hua Capital Management brings worldwide deal making in the technology sector to $167.9 billion for year-to-date 2014, an increase of 54% compared to a year ago and the strongest period for M&A in the sector since 2000. United States targets account for 61% of tech deals so far during 2014 followed by China (13%) and South Korea (5%).