Canadian equity issuance is down slightly so far this year, while debt underwriting ticked up, according to new data from Refinitiv.

The firm reports that, through the first nine months of 2019, Canadian equity issuance totalled $22.0 billion from 215 deals. This represents a 2% dip from the same period last year.

The real estate sector led the way, generating overall equity proceeds of $4.7 billion in the first nine months, followed by the energy and power sector, and the healthcare sector.

The equity underwriting league tables were led by Morgan Stanley, thanks to its role in the largest deal of the year so far.

Refinitiv also reports that Canaccord Genuity ranked first in retail structured products, and RBC led in preferred securities.

The debt market league tables were led by RBC Capital through the first nine months, and National Bank Financial ranked first in government debt.

Overall debt issuance reached $138.9 billion in the first nine months of 2019, up by 4% from the previous year.

Government and agency debt accounted for 56% of overall issuance, followed by financials and energy and power, with 24% and 11% market share, respectively.