Equity Capital Markets
Overview
Macquarie Capital’s Equity Capital Markets (ECM) team is an experienced global group which specializes in raising equity and hybrid capital and capital management. We are experienced across the spectrum of ECM products, and focus on working with our clients to develop the optimal capital raising structures to meet their needs and market conditions. Our clients benefit from our combination of balance sheet strength; structuring and advisory expertise; and the outstanding international distribution and research capabilities of Macquarie Securities.
Recent highlights for the team include:
- executed 31 deals raising $US11 billion in the US in 2010, including 10 as bookrunner
- No.1 in Australia for number of deals in 2009 (Bloomberg)
- leading the largest Hong Kong IPO in 2008, 2009 and 2010, including the world’s largest ever IPO (Agricultural Bank of China)
- leading or participating in the majority of significant transactions across the resources sector in Canada.
Macquarie Capital’s ECM team also has a rapidly expanding presence in Europe and South Africa. Our global ECM team raised over $US38 billion for clients last year and provided innovative capital solutions in challenging markets, leading some of the world’s largest deals.
Key transactions
| Year | Description | Transaction Value |
|---|---|---|
| Local | ||
| 2011 | Joint bookrunner on American International Group's follow-on offering | $US8.7bn |
| 2011 | Joint bookrunner on Phoenix New Media's initial public offering | $US162m |
| 2011 | Sole bookrunner and sole manager on FX Energy's follow-on offering | $US48m |
| 2011 | Co-manager on James River Coal's concurrent follow-on and convertible offering | $US410m |
| 2011 | Joint bookrunner and sole deal manager on MedQuist Holdings' initial public offering and exchange of common stock | $US41m |
| 2010 | Senior co-manager in a follow-on offering for General Growth Properties Inc. | $US2.3bn |
| 2010 | Joint bookrunner on an overnight follow-on and joint lead manager on the convertible debt offering for InterOil Corp. | $US280m |
| 2010 | Joint bookrunner on the preferred equity offering for DuPont Fabros Technology | $US185m |
| 2010 | Joint bookrunner on the follow-on offering for Grupo Aeroportuario del Sureste (ASUR) | $US215m |
| 2010 | Sole bookrunner on a marketed follow-on offering for Tennessee Commerce Bancorp, Inc. | $US26m |
| 2010 | Joint bookrunner for First Commonwealth Financial Corporation's common equity follow-on offering | $US86m |
| 2010 | Joint bookrunner and sole structuring agent on a preferred offering by Zions Bancorporation | $US143m |
| 2010 | Joint bookrunner on the follow-on offering for DuPont Fabros Technology | $US317m |
| 2010 | Lead bookrunner on the follow-on offering for Broadwind Energy | $US99m |
| 2010 | Joint bookrunner on the follow-on offering for Armour Residential REIT | $US35m |
| Global | ||
| 2010 | Joint sponsor, joint bookrunner and joint lead manager for the IPO of the Agricultural Bank of China, the world's largest ever IPO | $A22.5bn |
| 2010 | Joint bookrunner and joint lead manager for the Western Areas NL convertible bond issue, listed on the Singapore Exchange | $A125m |
| 2010 | Joint global coordinator, joint bookrunner and joint lead manager for the Chinese company Joyou AG's IPO on the Frankfurt Stock Exchange | €105m |
| 2010 | Global coordinator, sole bookrunner and sole lead manager to OceanaGold Corporation's global equity raising: a dual listed company in Australia and Canada for which Macquarie developed a dual-bookbuild structure to sell both ASX and TSX listed scrip | $C86m |
| 2010 | Joint bookrunner to Burford Capital on its follow-on offering | $US175m |
| 2009 | Joint global coordinator, joint bookrunner and joint underwriter for Rio Tinto Limited's rights issue, the first rights issue for a dual listed company (UK and Australia), the largest ever rights issue in Australia | $A15.2bn |
| 2009 | Co-lead manager for Lloyds' TSB Bank Plc's rights issue, the largest rights issue in history | ₤13.5bn |
| 2009 | Joint lead manager, joint bookrunner and joint underwriter for SP AusNet Limited's rights issue, the first ever parallel rights issue in Singapore and Australia for an ASX/SGX dual listed security | $A411m |
| 2009 | Sole lead manager and sole underwriter for the IPO of carsales.com Limited, an award winning transaction which was the first significant IPO on the ASX since the height of the global financial crisis in 2008 | $A163.5bn |
| 2009 | Joint bookrunner to Commonwealth Bank on its convertible bond | $US1.8bn |