Barrenjoey, UBS, Macquarie top ECM league tables after Q3 raising rush
With only three months of deals left in the year, it’s time to review the scoreboard. A trio of top-tier investment banks – Barrenjoey, UBS and Macquarie – are angling for a top spot on the equity capital markets league table, Dealogic data reveals.
Dyson Bowditch and Jabe Jerram, Barrenjoey’s ECM co-heads.
The third quarter saw a flurry of activity, including Orora’s $1.35 billion equity raising to buy France’s Saverglass – the biggest raise of the year so far – Ventia’s $331 million block trade, and Star Entertainment’s $750 million equity raise. Oil trading giant Vitol also launched a $714 million block trade in Viva Energy – worth 16.1 per cent of the company.
While tables can be cut plenty of ways, none of Barrenjoey’s rivals would dispute that the relative newcomer has had a good year. Jabe Jerram and Dyson Bowditch’s team secured a spot on the Wesfarmers-Coles $688 million block, were on board for Infratil’s $NZ850 million raise, and helped APA Group raise $750 million for its big M&A bet. It was the only investment bank to score a call-up for Star Entertainment – the casino’s second multi-million deal this year.
In second position was UBS. Roles on chunky block trades for Vitol-Viva Energy and Contemporary Amperex Technology-Pilbara Minerals – as well as spots on Infratil’s placement and Ryman Healthcare’s NZ$902 million recapitalisation – pumped Matthew Beggs’s team up the list.
Rounding out the top three, Macquarie Capital benefited from a berth on Orora’s chunky raise. Co-ECM heads Georgina Johnson and Angus Firth were also around Ryman Healthcare – the biggest equity raising in the region this year – and alongside Barrenjoey on Star’s first $800 million capital raise.
Mid-tier broker Canaccord Genuity
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