FinanceAsia Achievement Awards 2023: Asia’s best deals revealed


Our annual Achievement Awards recognise excellence across Asia’s financial markets. Covering three key categories – Deal Awards, House Awards and Regional Deal Awards – our Achievement Awards highlight the accomplishments of key players across Asia, Australia and New Zealand, that have shown dedication to their sector.

We are delighted to announce that following receipt of over 600 submissions, our Advisory Board of external experts along with the support of our editorial team, have now completed the judging process for this year’s awards.

Please find below a list of this year’s winners of the Regional Deal Awards category.

The rationale behind winner selection will be published in our upcoming winter print edition of the FinanceAsia magazine.

North Asia = Japan, South Korea, Taiwan 

South Asia = India, Pakistan, Bangladesh, Sri Lanka

Southeast Asia = Indonesia, Malaysia, Philippines, Thailand, Vietnam

 

>> BEST BOND DEAL <<

CHINA OFFSHORE

China Taiping Insurance Holdings’ $2 billion PerpNC5 RegS subordinated capital securities

JLMs: CICC, HSBC, ICBC Asia, JP Morgan, Agricultural Bank of China, BOC, CCB International, China Merchants Securities, China Securities International, CITIC, CMB International

Highly commended: CSC Financial’s Rmb3 billion 2-year and 3-year dim sum bond

Participants: CITIC Bank International

CHINA ONSHORE 

Volkswagen International Finance N.V’s Rmb1.5 billion 2-year medium term note with 3.05% coupon

Joint lead bookrunner: HSBC

Highly commended: NWS Holdings’ Rmb1.5 billion 3-year 3.90% Medium Term Notes (Panda Bonds) in the China Interbank Bond Market

Lead underwriter: Deutsche Bank

HONG KONG SAR 

Hong Kong Mortgage Corporation’s (HKMC) $404.8 milllon Bauhinia ILBS 1 Limited issuance

Joint global coordinators: ING Bank, MUFG, Standard Chartered

Highly commended: HKMC’s Triple-tranche HK$9.5 billion 2-year, CNH 5 billion 3-year and $650 million 5-year social notes issuance

JLMs (in different combinations across the deals): BOCHK, Citi, Credit Agricole CIB, HSBC, Standard Chartered, ANZ, BNP Paribas, DBS, Mizuho, UOB, CITIC, CCB Asia, ICBC, JP Morgan

NORTH ASIA

Republic of Korea’s JPY70bn samurai bonds

JLM: HSBC

Highly commended: Chimei Corporation’s and Far East New Century’s sustainability-linked bonds

Underwriters: Yuanta Securities

SINGAPORE

Temasek’s €1.5 billion dual-tranche 4-year and 10-year senior unsecured notes

Joint bookrunners: Societe Generale

SOUTH ASIA

PRAN Agro’s BDT2.6 billion guaranteed 8-year fixed priced corporate bond

Guarantor: GuarantCo  / Issue manager: Riverstone Capital

Highly commended: Bharti Telecom’s RS4,500 crores 2-year and 3-year bond

Participants: Axis Bank

SOUTHEAST ASIA 

Projek Lebuhraya Usahasama’s RM25.2 billion Islamic medium term notes

Participants: CIMB, RHB Investment Bank, AmInvestment Bank

Highly commended: Gulf Energy Development’s THB35 billion senior and unsecured debentures

JLAs: Bankok Bank, Bank of Ayudhya, Kasikorn Bank, Krung Thai Bank, TMBthanachart Bank, Standard Chartered, The Siam Commercial Bank, Maybank Securities, United Overseas Bank

 

>> BEST EQUITY DEAL <<

CHINA ONSHORE 

Postal Savings Bank of China’s (PSBC) A-share non-public offering of RMB45 billion

Participants: CICC, China Post Securities, China Securities, CITIC

HONG KONG SAR 

Link Reit’s HK$18.8 billion rights issue

Lead underwriters: DBS, HSBC, JP Morgan 

NORTH ASIA

LG Chem’s $2 billion exchangeable bond offering 

JLMs: Citi, Goldman Sachs, HSBC

SINGAPORE 

SATS’s S$798.8 million rights issue in connection with acquisition of WFS Group

Underwriters: DBS, BofA, Citi  / Co-lead managers: OCBC, UOB / Legal: Allen & Gledhill

Highly commended: CapitaLand Ascendas Reit’s S$500 million private placement

JLMs: DBS, JP Morgan, OCBC / Legal: Allen & Gledhill 

SOUTH ASIA 

PNB Housing Finance’s INR25 billion rights issue

JLMs: Axis Capital, BNP Paribas, BofA, JP Morgan

SOUTHEAST ASIA

Pavilion Reit’s RM720 million primary placement

Joint bookrunners: AmInvestment Bank, CIMB, Credit Suisse, Kenanga, Maybank, RHB

Highly commended: ACEN’s up to PHP25 billion perpetual preferred shares offering 

Participants: BDO, BPI, China Bank Capital, PNB, RCBC, SB

 

>> BEST INFRASTRUCTURE DEAL <<

CHINA ONSHORE

Huaxia Fund-China Resources Nest Rental Housing REIT’s RMB1.2 billion listing on Shanghai Stock Exchange

Arranger: CITIC / Legal: Han Kun Law Offices

HONG KONG SAR

HKMC’s $404.78 milllon Bauhinia ILBS 1 Limited issuance

Joint global coordinators: ING Bank, MUFG, Standard Chartered

NORTH ASIA

Hai Long’s NTD$118 billion offshore wind project non-recourse project financing

Lenders: CTBC, Fubon Bank, Taiwan Life, Fubon Life, HSBC, Credit Agricole CIB, ANZ, SMBC, Mizuho, MUFG, Deutsche Bank, Standard Chartered, DBS, Korea Development Bank, Shinsei Bank, JBIC Direct Loan

SINGAPORE 

Bayfront Infrastructure’s $410.3 million infrastructure securitisation

JLMs: Citi, ING, OCBC, SocieteGenerale, SMBC Nikko, Standard Chartered

Highly commended: City Energy’s S$400 million refinancing 

Financial advisor: Citi

SOUTH ASIA

Unique Meghnaghat Power’s $463 million 15-year project finance term loan

Lenders: Asian Infrastructure Investment Bank, DEG, OFID, Standard Chartered

SOUTHEAST ASIA

RP Hydro’s RM975 million Asean green SRI Sukuk Wakalah

Sole financial advisor: CIMB 

Highly commended: DITO Telecommunity’s $3.9 billion 15-year debt financing

Co-financial advisor: Standard Chartered 

 

>> BEST IPO <<

CHINA ONSHORE

Nexchip Semiconductor’s STAR Market IPO

Sole sponsor: CICC

HONG KONG SAR 

Sichuan Kelun-Biotech’s Hong Kong HK$1.56 billion IPO

JLMs: BOCOM International, CITIC, Citi, Goldman Sachs, ICBC / Legal: Kirland & Ellis

NORTH ASIA 

Rakuten Bank’s JPY83.3 billion IPO

JLMs: Morgan Stanley, Daiwa, Goldman Sachs, Mizuho, BofA, SMBC Nikko, Citi 

Legal: Simpson Thacher & Bartlett

SOUTH ASIA 

Mankind Pharma’s RS43.264 billion IPO 

JLMs: Axis Capital, Kotak, IIFL, JP Morgan, Jefferies

SOUTHEAST ASIA

Amman Mineral Internasional’s $708 million IPO 

JLMs: Citic, DBS, BNI Sekuritas, Mandiri Sekuritas

Highly commended: DXN Holdings’ RM652.9 million IPO

JLMs: CIMB, Maybank

 

>> BEST ISLAMIC FINANCE DEAL <<

SOUTHEAST ASIA

Khazanah Nasional’s $750 million Sukuk

JLMs: CIMB, DBS, JP Morgan, MUFG, BofA, Maybank, OCBC

Highly commended: reNIKOLA Solar II’s up to RM390 million Asean green SRI Sukuk

JLMs: Hong Leong IB, MAIB

 

>> BEST M&A DEAL <<

NORTH ASIA

AP Acquisition’s $461 million SPAC business combination with JEPLAN

Counsel to AP: Kirkland & Ellis

SINGAPORE

S$13.2 billion combination of Keppel Offshore & Marine and Sembcorp Marine

Joint financial advisor with respect to valuation, meger exchange ratio: DBS

Highly commended: SATS’ €1.19 billion cash acquisition of Worldwide Flight Services

Counsel to SATS: Latham & Watkins

SOUTH ASIA

Merger of Mindtree with LTI

Advisors: KPMG (Mindtree), Citigroup (LTI)

Highly commended: Merger of Sony India with Zee Entertainment Enterprises

Advisors: KPMG (Sony and Zee), JP Morgan (Zee), Morgan Stanley (Sony)

SOUTHEAST ASIA

Permodalan Nasional’s RM1.01 billion disposal of 100% stake in MIDF to Malaysia Building Society

Advisors: Maybank (PNB)

Highly commended: $7.5 billion (enterprise value) privatisation of MPIC by a consortium of First Pacific, GT Capital, Mitsui/JOIN, MIG

Sole international financial advisor to bidder consortium: UBS

 

>> BEST PRIVATE EQUITY DEAL <<

CHINA OFFSHORE

Buyer consortium led by affiliates of Bain Capital’s $3.16 billion take-private of Chindata Group

Financial advisors: Shanghai Pudong Development Bank, Industrial Bank / Legal: Kirkland & Ellis

CHINA ONSHORE

Zhipu AI’s over RMB2.5 billion Series-B financing 

Exclusive advisor: China Renaissance

HONG KONG SAR 

$6.5 billion merger of Vistra and Tricor

Legal advisor to lead co-investors: Weil, Gotshal & Manges

Legal advisor to BPEA EQT: Latham & Watkins

SINGAPORE

HMI Group’s acquisition of MHC Asia

Legal advisor to HMI: Allen & Gledhill

SOUTH ASIA

Sale of controlling stake in FundsIndia

Exclusive advisor: IIFL

SOUTHEAST ASIA

CVC’s acquisition of a stake in Samator Indo Gas

Legal advisor to CVC: Hiswara Bunjamin & Tandjung

 

>> BEST PROJECT FINANCE DEAL <<

NORTH ASIA

Hai Long’s NTD$117 billion offshore wind project non-recourse project financing

Lenders: CTBC, Fubon Bank, Taiwan Life, Fubon Life, HSBC, Crédit Agricole CIB, ANZ, SMBC, Mizuho, MUFG, Deutsche Bank, Standard Chartered, DBS, Korea Development Bank, Shinsei Bank, JBIC Direct Loan

SINGAPORE

Bayfront Infrastructure’s $410.3 million infrastructure securitisation

JLMs: Citi, ING, OCBC, Societe Generale, SMBC Nikko, Standard Chartered

SOUTH ASIA

ReNew Power Private’s 44MW Round-The-Clock project

JLMs: DBS, Credit Agricole, Natixis, Societe Generale

Highly commended: Unique Meghnaghat Power’s $463 million 15-year project finance term loan

Lenders: Asian Infrastructure Investment Bank, DEG, OFID, Standard Chartered

SOUTHEAST ASIA

 DITO Telecommunity’s $3.9 billion financing

Participants: Standard Chartered 

Highly commended: Yinson Bergenia’s $720 million syndicated loan facility for Maria Quitéria

MLAs: HSBC, ING Bank, JP Morgan, Maybank, Natixis, Standard Chartered, UOB

 

>> BEST PROPERTY DEAL <<

CHINA OFFSHORE

China Fortune Land Development’s $4.96 billion offshore debt restructuring

Sole financial advisor: Admiralty Harbour Capital

Highly commended: Treasure Abundance / Beijing Dongfang Wenhua’s $421 million refinancing

MLAs: Standard Chartered

HONG KONG SAR

Yuexiu Property’s HK$8.36 billion rights issue

JLAs: CICC, Citic Securities, DBS, Goldman Sachs, Morgan Stanley

Highly commended: Hongkong Land’s $400 million senior unsecured fixed rate notes

JLMs: DBS

NORTH ASIA

KKR and Gaw Capital’s acquisition of Hyatt Regency Tokyo

Legal advisor to KKR: Simpson Thacher

SINGAPORE

Link Reit’s $1.63 billion acquisition of retail properties in Singapore

Legal advisor: Kirkland & Ellis

SOUTHEAST ASIA

GDS IDC Services’s RM1.266 billion secured green term loan facility

MLAs: BOC, OCBC, Standard Chartered, UOB

Highly commended: Land & Houses’ THB8 billion fixed rate and zero coupon senior unsecured bonds

Sole lead manager: UOB

 

>> BEST STRUCTURED FINANCE DEAL <<

HONG KONG SAR

HKMC’s $404.78 milllon Bauhinia ILBS 1 Limited issuance

Joint global coordinators: ING Bank, MUFG, Standard Chartered

NORTH ASIA

BMW’s Bavarian Sky Korea 6th’s KRW450 billion senior Class A bonds public securitisation

Sole structuring bank: Societe Generale

SINGAPORE

Advent International’s S$265 million senior unitranche facility for The Learning Lab

Exclusive global coordinator: Nomura

Highly commended: Bayfront Infrastructure’s $410.3 million infrastructure securitisation

JLMs: Citi, ING, OCBC, Societe Generale, SMBC Nikko, Standard Chartered

Legal advisors: Allen & Gledhill, Latham & Watkins

SOUTH ASIA

HGS Healthcare Services’ $755 million dividend recapitalisation facility

MLAs: DBS, Sinopac, CTBC, DB, Esun, HSBC, KDB Asia, Korea Development Bank Hong Kong Branch, MUFG, SCB, SMBC

SOUTHEAST ASIA

Poseidon ABS’ up to RM320 million asset-backed medium term notes

Sole lead arranger: Maybank IB

Highly commended: Exism Capital Resources’ RM300 million special-purpose funding vehicle (Tranche 4)

Lead arranger: UOB Malaysia

 

>> BEST SUSTAINABLE FINANCE DEAL <<

CHINA ONSHORE

Ant Group’s conversion of $6.5 billion syndicated loan facility into sustainability-linked loan

Sole ESG structuring advisor: Citigroup

CHINA OFFSHORE

Tianqi Lithium Australia Investments’ $400 million sustainability-linked term loan facility

MLAJLAs: Standard Chartered, BNP Paribas, Ping An Bank, Hua Xia Bank, ING Bank, Industrial Bank, Bank of East Asia

HONG KONG SAR

Swire Properties’ CNH3.2 billion RegS senior unsecured green dim sum bond

JLMs: HSBC, Bank of China (Hong Kong), BofA Securities, ICBC (Asia), Mizuho

Highly commended: HKMC’s $404.78 milllon Bauhinia ILBS 1 Limited issuance

Joint global coordinators: ING Bank, MUFG, Standard Chartered

NORTH ASIA

SK Hynix’s $2.5 billion multi-tranche offering of sustainability-linked and green notes

Participants: Citi, BNP Paribas, BoA, Credit Agricole CIB, HSBC, MUFG

Highly commended: Hai Long’s NTD$117 billion offshore wind project non-recourse project financing

Lenders: CTBC, Fubon Bank, Taiwan Life, Fubon Life, HSBC, Credit Agricole CIB, ANZ, SMBC, Mizuho, MUFG, Deutsche Bank, Standard Chartered, DBS, Korea Development Bank, Shinsei Bank, JBIC Direct Loan

SINGAPORE

Bayfront Infrastructure’s $410.3 million infrastructure securitisation

JLMs: Citi, ING, OCBC, Societe Generale, SMBC Nikko, Standard Chartered

Highly commended: The Government of Singapore’s S$2.8 billion 3.00% green bonds

Joint bookrunners: Citigroup, DBS, OCBC, Standard Chartered, UOB / Legal: Allen & Gledhill

SOUTH ASIA

Gravita Netherland BV’s €34 million ESG fund raise

Sole arranger and advisor: Azalea Capital Partners

Highly commended: Runner Automobiles PLC’s BDT2.67 billion sustainability bond

Guaranter: GuarantCo / Arranger: Green Delta Capital

SOUTHEAST ASIA

reNIKOLA II’s up to RM390 million Asean green SRI Sukuk

JLMs: Hong Leong IB, MAIB

Highly commended: Minor International’s 500 million syndicated sustainability-linked loan

MLABUs: Standard Chartered, SMBC

 

>> BEST SYNDICTAED LOAN DEAL <<

CHINA OFFSHORE

Zhongyu Energy’s $175 million and HK$1.75 billion’s term loan facility

MLABs: Bank of China (Hong Kong), Deutsche Bank, Standard Chartered

CHINA ONSHORE

Sinopharm Holding (China) Finance Leasing’s RMB1.38 billion sustainable facility

MLABs: DBS, Mizuho, OCBC

HONG KONG SAR

Tricor and Vistra’s $1.66 billion incremental first-lien term loan

MLABs: HSBC, Goldman Sachs, Barclays, Deutsche Bank, BNP Paribas, Citi, Credit Agricole, Morgan Stanley, MUFG, Nomura, Standard Chartered

SINGAPORE

Wii Pte’s $1.7 billion syndicated loan facility

MLABs: DBS, BOC, HSBC, MUFG, OCBC, UOB

SOUTH ASIA

Reliance Industries’ $5 billion equivalent long term syndicated facility

MLABs: ANZ, BofA, BNP Paribas, Bank of Nova Scotia, Citi, Credit Agricole, DBS, First Abu Dhabi Bank, HSBC, Mizuho, MUFG, SMBC, Standard Chartered, State Bank of India WBB Bahrain, UOB

SOUTHEAST ASIA

TRUE Corporation’s $2.3 billion senior syndicated term loan facility

MLABs: BNP Paribas, DBS, Natixis, OCBC, Standard Chartered, SMBC, UOB

Highly commended: Resorts World Las Vegas LLC’s $800 million senior secured credit facility

MLABs: Citi

 

>> BEST VENTURE CAPITAL DEAL <<

SINGAPORE

Openspace Ventures’ investment in Pickup Coffee’s $40 million funding round

Legal advisor: Allen & Gledhill

 


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