Who sets the bar in North Asia transaction banking?
In 2016, you can say that the renminbi cross-borde...
In the specialized REIT (Real Estate Investment Trust) market of Asia, two banks stood out among the rest, demonstrating their skills in guiding their clients through various equity transactions. We are pleased to nominate Citi and DBS for the Triple A Best REIT House Award.
Last year, Citi made its mark on the REIT landscape by taking Frasers Logistics & Industry Trust public in a US$664.9 million deal that offered investors the unique opportunity to gain exposure to an Australian prime industrial and logistics portfolio. The trade had a number of high quality cornerstone investors. Moreover, Citi helped several other REITs, including Keppel DC REIT in its US$280 million follow-on offering; and Suntec REIT with its US$223 million convertible bonds. In the case of Suntec REIT, the convertible bonds played a key part in funding the acquisition of an interest in the Australian Southgate Complex.
DBS also had its successes in 2016. The house played a role in the Fraser Logistics & Industrial Trust’s IPO last year, and in addition took Manulife US REIT public on the SGX, which generated US$493 million from investors, supported by a number of cornerstone investors including DBS’ private bank unit. Aside from IPOs, DBS assisted Mapletree Commercial Trust with its S$1 billion follow-on offering. Funds raised by Mapletree Commerical Trust will be used for financing the first phase development of Mapletree’s business city project.
The winner of the Triple A Best REIT House will be revealed on February 28 2017 during The Asset’s Regional House & Deal Awards Dinner. For more information about the awards ceremony please click here.
12 Jan 2017