Asia Infrastructure Awards 2018 - Best Deals by Country

The Asset Triple A
Asia Infrastructure Awards 2018

Country deal awards (ASEAN)

Indonesia
Project finance deal of the year/Power deal of the year
Paiton Energy
US$2 billion project bond and US$750 million term loan facilities
Global coordinators (bonds):
Barclays, HSBC
Bookrunners and lead managers (bonds):
Barclays, Citi, DBS, Deutsche Bank, HSBC
Lead manager:
SMBC Nikko
Mandated lead arrangers (loan):
Barclays, Citi, DBS, HSBC, Mizuho Bank, Shinsei Bank, Standard Chartered,
Sumitomo Mitsui Banking Corporation
A landmark in the development of the Asian bond market and a significant breakthrough in infrastructure financing being the first Reg S/144A project bond in the region since 1997
Renewable energy deal of the year
Star Energy consortium's acquisition of Chevron's geothermal and power business in Indonesia and the Philippines
Sponsors:
AC Energy Holdings, Electricity Generating Public Company Limited, Star Energy Group
Financial adviser:
Credit Suisse
Coordinators and mandated lead arrangers (financing):
BPI Capital Corporation, DBS
Mandated lead arrangers:
Bangkok Bank, Bank of China, BDO Unibank, RCBC Capital Corporation, MUFG Bank,
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:
Indonesia Infrastructure Fund, MUFG Bank, Sumitomo Mitsui Banking Corporation
Arrangers:
Intesa Sanpaolo, Ta Chong Bank, CTBC Bank
Lenders:
Bangkok Bank, Bank of China, Bank of the Philippine Islands, BDO Unibank, DBS,
MUFG Bank, Rizal Commercial Banking Corporation, Sumitomo-Mitsui Banking Corporation
The largest renewable energy deal in Asia-Pacific in 2017, setting a benchmark in the independent power producer (IPP) space with such large financing done purely with commercial banks
Renewable energy deal of the year – Highly commended
Muara Laboh Geothermal Power Plant
US$587.67 million project financing
Sponsors:
Supreme Energy, Sumitomo Corporation, ENGIE Electrabel
Mandated lead arrangers:
Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation
Lenders:
Asian Development Bank, Japan Bank for International Cooperation,
Nippon Export Investment Insurance
One of the pioneering new generation of geothermal power projects to be developed under Indonesia’s new geothermal regulations and the Fast Track 2 programme
IPP deal of the year
Tanjung Jati B 5&6
US$3.24 billion facility
Sponsors:
Kansai Electric Power Company, Sumitomo Corporation, United Tractors
Financial adviser:
Sumitomo Mitsui Banking Corporation
Mandated lead arrangers:
Mitsubishi UFJ Trust and Banking Corporation, Mizuho Bank, MUFG Bank,
Norinchukin Bank, Oversea-Chinese Banking Corporation,
Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank
ECAs:
Japan Bank for International Cooperation, Nippon Export and Investment Insurance
It is one of the projects to negotiate a bankable structure under the new regulation which makes rupiah settlement of transactions mandatory in Indonesia. This model is being adopted by other projects, and appears to have become a market standard
Oil and gas deal of the year
Medco E&P Malaka
US$360 million reserve-based lending
Sponsor:
Medco Energi International
Mandated lead arrangers, underwriters and bookrunners:
ANZ, ING, Societe Generale CIB
Mandated lead arranger:
BNP Paribas
The project is an upstream greenfield asset with a unique financing structure as it was sized based on a 100% working interest in the asset.
Transport deal of the year
Jasa Marga
4 trillion rupiah Komodo bond
Sole rating adviser:
HSBC
Global coordinators:
HSBC, Mandiri Sekuritas
Bookrunners and lead managers:
Deutsche Bank, HSBC, Mandiri Sekuritas, Standard Chartered
The first ever rupiah-linked global bond, called Komodo bond, which introduces a new asset class in the global debt capital markets
Malaysia
Project finance deal of the year/Renewable energy deal of the year/Green project of the year/Most innovative deal of the year
Tadau Energy
250 million ringgit SRI sukuk
Shariah adviser:
Dr Aznan Hasan
Principal adviser, lead arranger and lead manager :
Affin Hwang Investment Bank
This is the world’s first green sukuk, encouraging potential issuers to use the SRI platform to raise funds for climate-friendly investments
Oil and gas deal of the year
Pengerang Terminal Phase 2
US$1.575 billion facility
Sponsors:
Dialog Equity (Two), Petronas, Vopak Terminal Pengerang BV
Financial adviser:
Sumitomo Mitsui Banking Corporation
Mandated lead arrangers:
AmInvestment Bank, DBS, ING, Maybank, MUFG Bank, Natixis, Oversea-Chinese Banking Corporation, Sumitomo Mitsui Banking Corporation, United Overseas Bank
The project plays a critical role in supporting Petronas’ operations in its refinery, steam cracker and petrochemical plant.
Power deal of the year
Tenaga Nasional
2 billion ringgit medium term sukuk
Principal advisers, lead arrangers, bookrunners and lead managers:
AmInvestment Bank, Maybank Investment Bank
The largest 20-year tenor ringgit/sukuk issuance by a rated corporate issuer since Tenega’s own deal in 2001.
Social infrastructure deal of the year
Perbadanan PR1MA Malaysia
2.5 billion ringgit government-guarantee medium term notes
Lead arrangers, bookrunners and lead managers:
AmInvestment Bank, CIMB Investment Bank, Maybank Investment Bank,
RHB Investment Bank
The first public funding exercise for the development of high quality housing for middle income households in Malaysia
Telecom deal of the year
Digi Telecommunications
900 million ringgit murabaha sukuk
Shariah adviser:
CIMB Islamic Bank
Sole principal adviser and arranger:
CIMB Investment Bank
Lead managers:
CIMB Investment Bank, MUFG Bank (M)
The deal achieved competitive pricing level on the back of the strong investor demand
Transport deal of the year
Projek Lintasan Sungai Besi Ulu Klang
380 million ringgit wakala sukuk
Sponsors:
Projek Lintasan Kota Holdings
Principal adviser:
AmInvestment Bank
Shariah adviser:
Dr Mohd Daud Bakar
Lead arrangers and lead managers:
Affin Hwang Investment Bank, AmInvestment Bank, Bank Pembangunan Malaysia, Maybank Investment Bank
The deal was the largest A+/A1 rated corporate issue by a non-financial institution for over 16 years in the ringgit market
Transport deal of the year – Highly commended
DanaInfra Nasional
10.18 billion ringgit government-guarantee sukuk
Lead arrangers, bookrunners and lead managers:
AmInvestment Bank, CIMB Investment Bank, Maybank Investment Bank,
RHB Investment Bank
The first public funding exercise for the mass railway transit project through the Islamic capital markets, garnering robust demand from investors
Utility deal of the year
BEWG (M)
400 million ringgit wakala sukuk
Principal advisers, lead arrangers and lead managers:
CIMB Investment Bank, Maybank Investment Bank
Lead managers:
Affin Hwang Investment Bank, ICBC (Malaysia), RHB Investment Bank
The deal represents the first ringgit-denominated sukuk by a China-owned company for water infrastructure funding
Philippines
Renewable energy deal of the year
Solar Philippines Calatagan Corporation
3.4 billion pesos term loan
Sole structure agent and mandated arranger:
BDO Capital & Investment Corporation
Lenders:
BDO Unibank, Philippine Business Bank, United Coconut Planters Bank
This is the largest solar power plant in the island of Luzon and has been engineered and designed according to the best-in-class standards, thereby resulting in efficient operations
Power deal of the year
Sarangani Energy Corporation
10.5 billion pesos syndicated term loan facility
Sponsors:
Alsons Thermal Energy Corporation (Alsons Consolidated Resources, Global Business Power Corporation), Toyota Tsusho Corporation
Lead arranger and sole bookrunner:
BDO Capital & Investment Corporation
Lenders:
Asia United Bank, BDO Unibank, China Bank Savings, Philippine Business Bank,
Rizal Commercial Bank Corporation, Robinsons Bank, United Coconut Planters Bank
The project will provide additional base-load capacity and ease the power demand-supply imbalance in Mindanao
PPP project of the year
Unisys Managed Services Corporation
750 million pesos loan facility
Financial adviser and mandated lead arranger:
BPI Capital Corporation
This is the first information technology PPP project in the Philippines under the PPP law and represents the second phase of the modernization project of the civil registry of the Philippine Statistics Authority
Most innovative deal of the year
GNPower Mariveles Coal Plant Limited
US$800 million notes facility
Sponsors:
Aboitiz Power, AC Energy Holdings, Power Partners Private Limited
Sole mandated lead arranger and bookrunner:
BDO Capital & Investment Corporation
Co-lead arrangers/Co-arrangers:
BDO Unibank, China Banking Corporation, Land Bank of the Philippines,
Philippine Bank of Communications, Security Bank Corporation
This was the largest US dollar-denominated loan in Philippine history that was placed purely onshore, and offers the company the flexibility to maximize its leverage position.
Thailand
Renewable energy deal of the year
TPI Polene Power Public Company Limited
US$500 million IPO
Financial advisers, global coordinators and domestic bookrunners:
CIMB Securities (Thailand), Maybank KimEng (Thailand), TISCO Securities
International bookrunners:
CIMB Securities (Thailand), Maybank KimEng (Thailand)
The largest IPO in Asia in the energy sector at listing since July 2015
Oil and gas deal of the year
Ophir Energy
US$350 million reserve-based lending facility
Financial adviser:
Rothschild
Mandated lead arrangers:
ANZ, BNP Paribas, Commonwealth Bank of Australia, Credit Agricole CIB, HSBC,
Societe Generale CIB, Standard Chartered
The facility included a US$100 million accordion funding to provide the company with the necessary capital to continue its investments
Power deal of the year
TOP SPP Company
8.50 billion baht term loan facility
Sponsor:
Thai Oil Public Company Limited
Mandated lead arrangers:
Bank of Ayudhya, Kasikornbank, Kiatnakin Bank, Sumitomo Mitsui Banking Corporation
The project increases the operating reliability of the sponsor, reducing the dependency of its refinery on outside feedstock providers and the financing facility was considered one of the largest for conventional power project in 2017
Power deal of the year – Highly commended
Global Power Synergy Public Company Limited
5 billion baht inaugural debentures
Sponsors:
PTT Global Chemical Public Company Limited, PTT Public Company Limited,
Thai Oil Public Company Limited, Thaioil Power Company
Lead arrangers:
Bank of Ayudhya, Siam Commercial Bank
The company achieves diversification of investor base and able to manage down interest costs
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