The Asset
Country Awards 2017

Best Deals - Southeast Asia

Cambodia
Cambodia Flag
Best cross-border financing
Chip Mong Insee Cement Corporation US$112 million term loan and working capital facilities
Lender:
Bangkok Bank
To fund the construction of the largest cement plant in Cambodia
Indonesia
Indonesia Flag
Best equity
Sarana Menara Nusantara US$405 million secondary placement
Joint global coordinators:
Credit Suisse, Morgan Stanley, UBS
Joint bookrunners:
Credit Suisse, DBS, Mandiri Sekuritas, Morgan Stanley, UBS
Co-bookrunners:
BCA Sekuritas, Citi
Key block placement that opened up the equity market in Indonesia in 2017
Best M&A/Best acquisition financing
Star Energy consortium's acquisition of Chevron's geothermal and power business in Indonesia and the Philippines
Financial adviser:
Credit Suisse
Coordinators and mandated lead arrangers (financing):
BPI Capital Corporation, DBS
Mandated lead arrangers:
Bangkok Bank, Bank of China, Bank of Tokyo-Mitsubishi UFJ, BDO Unibank, RCBC Capital Corporation, Sumitomo Mitsui Banking Corporation
Original mandated lead arrangers, bookrunners and underwriters (secured term facilities):
Credit Suisse, DBS, Maybank
Mandated lead arrangers and bookrunners:
ICBC Asia, Cathay United Bank
Mandated lead arrangers:
BNP Paribas, First Commercial Bank
Lead arrangers:
Bank of Tokyo-Mitsubishi UFJ, Indonesia Infrastructure Fund, Sumitomo Mitsui Banking Corporation
Arrangers:
Intesa Sanpaolo, Ta Chong Bank, CTBC Bank
The acquisition is a major milestone for the consortium as it scales up their renewable energy platform and further establishes their presence in Indonesia
Best bond
Republic of Indonesia US$2 billion and €1 billion dual currency bond
Joint bookrunners:
BNP Paribas, Citi, Deutsche Bank, Goldman Sachs
The sovereign’s inaugural dual-currency bond that saw it achieve the lowest pricing in the Euro market to date
Best corporate bond
Paiton Energy US$2 billion dual-tranche bond
Joint global coordinators:
Barclays, HSBC
Joint bookrunners and lead managers:
Barclays, Citi, DBS, Deutsche Bank, HSBC
Joint lead manager:
SMBC Nikko
The first successful Asian project bond in two decades
Best high-yield bond
Gajah Tunggal US$250 million senior secured notes
Joint bookrunners:
Credit Suisse, Deutsche Bank, HSBC
Transaction eased the debt maturity profile of the company and alleviated refinancing risk leading to a ratings upgrade
Best new bond
Saka Energi Indonesia US$625 million debut bond
Joint bookrunners:
BNP Paribas, Citi, HSBC, Mandiri Sekuritas, Mizuho Securities, UBS
Transaction represents the first issuance from a subsidiary of an Indonesian SOE corporate
Best syndicated loan
Pertamina US$1.5 billion term loan facility
Mandated lead arrangers:
Bank Negara Indonesia, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, DBS, Mizuho, Sumitomo Mitsui Banking Corporation
The facility was upsized from US$1.1 billion and priced tighter than previous Petamina transactions
Laos
Myanmar Flag
Best bond
Ministry of Finance, Lao People’s Democratic Republic
14 billion baht multi-tranche bond
Adviser:
Twin Pine Group
Joint lead arrangers:
Bangkok Bank, Siam Commercial Bank, Thanachart Bank
The largest and longest tenor bond issuance by Lao Ministry of Finance in any market
Malaysia
Malaysia Flag
Best IPO
Serba Dinamik Holdings Berhad 671.7 million ringgit IPO
Joint principal adviser, bookrunner and underwriter / Managing underwriter:
RHB Investment Bank
Joint principal adviser, bookrunner and underwriter:
Affin Hwang Capital
Joint underwriters:
AmInvestment Bank, Kenanga Investment Bank
One of the best performing IPO anchored by blue-chip institutional investors
Best block trade
CIMB Group US$610 million block placement
Joint bookrunners:
CIMB, Credit Suisse, Morgan Stanley
Largest block trade in Malaysian capital markets history
Best M&A
Tenaga Nasional Berhad acquisition of 30% stake in GMR Energy Limited
Exclusive financial adviser:
Credit Suisse
Represents Tenaga Nasional Berhad's first venture into the Indian market
Best bank capital bond
Affin Bank Berhad 1 billion ringgit Basel III-compliant tier 2 capital
Joint lead arrangers and bookrunners:
Affin Hwang, AmInvestment Bank, Maybank Investment Bank
Inaugural Basel III-compliant tier 2 capital securities issue for the institution
Best FIG bond
Maybank's RMB 1 billion 3-year panda bond
Joint lead underwriters:
China Development Bank, HSBC
Bookrunner:
China Development Bank
First panda bond issuer for Southeast Asia under the bond connect scheme
Philippines
Philippines Flag
Best IPO
Wilcon Depot 7 billion pesos IPO
Issue manager and bookrunner:
First Metro Investment Corporation
Joint lead underwriters:
BDO Capital & Investment Corporation, First Metro Investment Corporation
Co-lead underwriter:
RCBC Capital Corporation
Participating underwriter:
Penta Capital Investment Corporation
Opened up the Philippine IPO market in 2017 and posted an impressive growth in share price since listing
Best follow-on
Del Monte Pacific US$200 million preferred shares
Sole issue manager:
BDO Capital & Investment Corporation
Joint lead underwriters and bookrunners:
BDO Capital & Investment Corporation, China Bank Capital, PNB Capital and Investment Corporation, RCBC Capital Corporation
Represents the first US dollar-denominated security issued and listed in the Philippines
Best secondary offering
Metro Pacific Investments Corporation US$256 million accelerated secondary sell-down of shares in Meralco
Sole bookrunner:
UBS
Significant overnight placement within the Philippines that saw a strong book of anchor investors
Best rights issue
BDO Unibank US$1.2 billion rights offering
Joint global coordinators:
BDO Capital & Investment Corporation, Credit Suisse, UBS
Joint bookrunners:
BDO Capital & Investment Corporation, Citi, Credit Suisse, Goldman Sachs, HSBC, UBS
Issue manager and domestic underwriter:
BDO Capital & Investment Corporation
The largest equity transaction by a bank in the Philippines to date
Best M&A
Udenna Corporation-led consortium’s acquisition of a controlling stake in 2GO Group
Financial adviser:
Evercore
Strategic transaction that allowed the consortium to deepen their foothold in the shipping and logistics industry
Best bond
Republic of the Philippines US$2 billion global bonds and switch tender
Joint global coordinators, deal managers and bookrunners:
Citi, Credit Suisse, Deutsche Bank, Standard Chartered, UBS
Tightest ever spread for a long-dated global bond issued by the Philippines
Best corporate bond
Ayala Corporation US$400 million fixed-for-life bonds
Sole global coordinator:
HSBC
Joint lead managers:
Deutsche Bank, HSBC, J.P. Morgan
Domestic lead managers:
BPI Capital Corporation, China Bank Capital Corporation
First tap for the Philippine corporate into the perpetual bond market setting a precedent in the country for fixed-for-life bonds
Best local currency bond
Ayala Land 4.3 billion pesos short-dated notes
Sole structuring adviser, lead underwriter and bookrunner:
China Bank Capital Corporation
The short-dated notes structure provided a yield pick-up for money market funds, while at the same time, tapping into a corporate credit space that was previously untapped
Best FIG bond
BDO Unibank US$700 million bonds
Joint bookrunners:
Bank of America Merrill Lynch, HSBC, Wells Fargo Securities
Largest ever US dollar bond priced at the lowest spread for a Philippine bank
Best LCY microfinance bond
ASA Philippines 2 billion pesos microfinance bonds
Mandated lead arranger and bookrunner:
BPI Capital Corporation
Lenders:
Bank of the Philippine Islands, Land Bank of the Philippines, Philippine National Bank
Guarantor:
Credit Guarantee and Investment Facility
The largest bond issuance by an individual microfinance institution in the Philippines to-date and CGIF’s first guarantee support for a local currency microfinance bond in Asia
Singapore
Singapore Flag
Best IPO
NetLink NBN Trust S$2.35 billion IPO
Joint issue managers and global coordinators:
DBS, Morgan Stanley, UBS
Joint bookrunners and underwriters:
Bank of America Merrill Lynch, Citi, DBS, HSBC, Morgan Stanley, OCBC Bank, UBS, United Overseas Bank
Significant IPO in Singapore in the last several years that saw demand from long only investors and high net worth private wealth management
Best M&A
Jacobs Douwe Egberts S$1.45 billion acquisition of Super Group
Financial adviser:
Evercore
Largest Singapore public market takeover completed in 2017
Best local currency bond
Mapletree Treasury Services Limited S$700 million subordinated perpetual securities
Joint bookrunners and lead managers:
DBS, HSBC, OCBC Bank
Deal received strong demand from investors resulting in significant compression in final pricing. It is the largest Singapore dollar perpetual securities of 2017
Best bank capital bond
United Overseas Bank S$750 million tier 2 subordinated notes
Joint lead managers:
ANZ, Credit Suisse, HSBC, United Overseas Bank
Achieved the tightest-ever coupon and spread in Singapore dollar for a 12 non-call seven Basel III tier 2 offering
Best green bond
DBS US$500 million floating rate green bonds
Sole green structuring agent and global coordinator:
DBS
Joint bookrunners and lead managers:
Crédit Agricole CIB, DBS, HSBC, ING, Natixis Securities Americas, Société Générale CIB, Wells Fargo Securities
Joint lead manager:
ABN AMRO Securities (USA)
First offshore green bond by a Singaporean issuer
Best new bond
Fullerton Healthcare Corporation US$175 million senior perpetual capital securities
Sole bookrunner:
Credit Suisse
First Singapore healthcare company to tap the US dollar bond market and the first healthcare company in Asia to issue US dollar perpetual securities
Best covered bond
United Overseas Bank dual currency US$500 million and €500 million covered bonds
Joint bookrunners and lead managers:
Deutsche Bank, DZ Bank, HSBC, UBS, United Overseas Bank
Joint lead manager (Euro tranche):
BNP Paribas
Asia’s first dual currency covered bonds issue
Best syndicated loan
Fraser Property Investments €300 million term loan facility
Financial adviser and mandated lead arranger:
Standard Chartered
Transaction enables Frasers Centrepoint to extend its logistics platform to Europe
Best structured finance
Avant Trust A$135 million fixed rate notes
Sole global coordinator, arranger, manager and bookrunner:
DBS
The first deferred payment securitization transaction in Australia that is in a bond format
Thailand
Thailand Flag
Best IPO
B. Grimm Power 11.47 billion baht
Joint bookrunners:
Bualuang Securities, CIMB Securities, Deutsche Bank, Kasikorn Securities, Phatra Securities
A key equity deal in the country that saw a significant amount of foreign institution participation
Best M&A
Solvay disposal of Vinythai stake to AGC Asahi Glass for €435 million
Financial adviser:
Bank of America of Merrill Lynch
The acquisition of Vinythai will enhance AGC Asahi Glass’ production base in the region
Best liability management (onshore)
Kingdom of Thailand matrix switch 90 billion baht liability management
Joint lead managers:
Bangkok Bank, Krungthai Bank, Standard Chartered
First ever matrix switch replacing multiple source bonds with multiple destination bonds within one transaction
Best liability management (offshore)
PTTEP tender offer and consent solicitation for US$1 billion and new issue of US$500 million
Joint dealer managers and bookrunners:
Bank of America Merrill Lynch, BNP Paribas, Citi
First ever US dollar liability management exercise to come out of Thailand which includes a new offering
Best equity-linked
Singha Estate US$229 million concurrent convertible bond offering and primary placement
Joint bookrunners (convertible bonds):
Credit Suisse, Krungthai Bank
Sole bookrunner (primary placement):
Credit Suisse
Standby letter of credit:
Krungthai Bank
Concurrent offering significantly increases the company’s equity base and public float
Best acquisition financing
BCPG Public Company Limited US$300 million acquisition financing
Financial adviser:
TISCO Bank
Lenders:
Bangkok Bank, ICBC, Mizuho Bank
Facility was used partly for the acquisition of investment in geothermal business in Indonesia and to finance future projects
Vietnam
Vietnam Flag
Best IPO
VietJet Aviation US$167 million IPO
Joint global coordinators:
BNP Paribas, Deutsche Bank, J.P. Morgan, VietCapital
First Vietnamese IPO with a Reg S compliant prospectus that experienced a shares surge shortly after listing
Best M&A
Siam City Cement 65% acquisition of LafargeHolcim Vietnam from LafargeHolcim for US$524 million
Financial advisers:
HSBC, Standard Chartered
Largest transaction in construction materials sector in Vietnam
Best syndicated loan
Petro Vietnam Gas US$210 million syndicated term loan facility
Mandated lead arranger and bookrunner:
Cathay United Bank
Mandated lead arrangers:
Bank of Tokyo-Mitsubishi UFJ, Bangkok Bank, BNP Paribas, Hua Nan Bank, Sumitomo Mitsui Banking Corporation
Lead arrangers:
CTBC Bank, First Commercial Bank, KEB HANA Bank, OCBC Bank, Siam Commercial Bank, Taiwan Cooperative Bank
One of the few refinancing deals for an offshore loan in Vietnam
Best share financing
Masan Nutri-Science Company US$110 million senior loan facility
Joint mandated lead arrangers and bookrunners:
Cathay United Bank, CTBC Bank, E.SUN Bank, Taipei Fubon Bank
To facilitate the investment of KKR, which will transform the company into a vertically integrated swine feed supplier
Best Houses - Southeast Asia
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