Asia Infrastructure Awards 2018 - Best Deals by Country

The Asset Triple A
Asia Infrastructure Awards 2018

Country deal awards (South Asia)

Bangladesh
PPP deal of the year
Sembcorp North-West Power Company
US$309 million debt facility for Sirajganj IPP power project
Sponsors:
Sembcorp Utilities, North-West Power Generation Company
Lenders:
CDC Group, Clifford Capital, International Finance Corporation,
Japan International Cooperation Agency, Multilateral Investment Guarantee Agency
The first project to reach completion since the Bangladesh government introduced the new PPP Act in 2015 and will help meet the country’s growing demand for power
India
Renewable energy deal of the year - Solar
Azure Power Energy
US$500 million debut green bond
Global coordinators:
Barclays, HSBC, J.P. Morgan
Bookrunners:
Barclays, Credit Suisse, Deutsche Bank, HSBC, J.P. Morgan, Societe Generale CIB
The first solar green bond from India with proceeds to finance the company’s existing and future eligible solar power projects which promote sustainability
Green project of the year
Adani Green Energy
27.96 billion rupee term loan facility
Sponsors:
Adani Enterprises, Adani Properties Private Limited
Financial adviser and sole lead arranger:
SBI Capital Markets
Lenders:
Andhra Bank, Bank of Baroda, Dena Bank, Indian Renewable Energy Development Agency, Oriental Bank of Commerce, PTC India Financial Services,
Punjab and Sind Bank, SBI Capital Markets, Union Bank of India
It is the world’s largest single location solar photovoltaic plant and one of the largest syndicated debt deal for a solar power project globally
Petrochemical deal of the year
HPCL Mittal Energy Limited
US$2.07 billion term loan
Sponsors:
Hindustan Petroleum Corporation, Mittal Energy Investments Private Limited (Singapore)
Financial adviser and mandated lead arranger:
SBI Capital Markets
Lenders:
Allahabad Bank, Andhra Bank, Bank of Baroda, Canara Bank, Indian Bank, J&K Bank, Oriental Bank of Commerce, Punjab and Sind Bank, SBI Capital Markets,
Union Bank of India, United Bank of India
The project would diversify the company’s existing product portfolio, which will mitigate the risk arising from single commodity cycle of petroleum products
PPP deal of the year
Chhattisgarh East Railway Limited
24.43 billion rupee debt financing
Sponsors:
South Eastern Coalfields Limited, IRCON International Limited,
Chhattisgarh State Industrial Development Corporation
Sole financial adviser and mandated arranger:
SBI Capital Markets
Lenders:
Canara Bank, Corporation Bank, Dena Bank, Indian Bank (lead lender),
Indian Overseas Bank, Oriental Bank of Commerce, United Bank of India, Vijaya Bank
The project is critical in providing the key rail infrastructure necessary for enabling movement of coal from the mines in the Mand-Raigarh coalfields of Chhattisgarh to end use projects in various parts of India
Transport deal of the year
Montecarlo Hubli Haven Highway
4.227 billion rupee project finance facility
Sponsor:
Montecarlo Limited
Mandated lead arranger and underwriter:
Standard Chartered
The entire debt was underwritten for a hybrid annuity model project, which was introduced by the National Highway Authority of India to increase the pace of construction of national highways, while de-risking the developers and lenders
Airport deal of the year
Mumbai International Airport
83 billion rupee term loan facility
Sponsors:
GVK Power & Infrastructure Limited, Bid Services Division (Mauritius) Limited,
ACSA Global Limited
Financial adviser and arranger:
SBI Capital Markets
Underwriter:
State Bank of India
Lenders:
Aditya Birla Finance, Axis Bank, Canara Bank, Central Bank of India, L&T Finance,
L&T Infrastructure Finance Company, Punjab National Bank, State Bank of India,
Vijaya Bank
This is one of the largest ever fund raising transactions in the airport sector in India to help refinance existing project term loan facility
Infrastructure fund deal of the year
Macquarie Asia Infrastructure Fund
20.6 billion rupee debt financing and working capital facility
Sponsor:
Macquarie Asia Infrastructure Fund
Underwriter:
L&T Financial Services
The deal is designed to fund the acquisition of a solar portfolio comprising of 325MW promoted by Hindustan Clean Energy. It represented Macquarie’s first foray into the renewable energy space in India
Private equity M&A deal of the year
IDFC Alternatives acquisition of Godhra Expressways
Arranger:
L&T Infra Debt Fund
Financier:
L&T Financial Services
The acquisition features a pioneering financing transaction involving the first of its kind flexible coupon (with cap and floor) for bond instruments, linked to the cash flow of the project
Most innovative deal
ReNew Power Ltd.
US$475 million senior secured notes
Global coordinators and bookrunners:
Bank of America Merrill Lynch, Goldman Sachs, HSBC, J.P. Morgan, UBS
The innovative transaction involved the issuance of US dollar bonds by an overseas debt issuing entity, the proceeds of which will be used to purchase the rupee-denominated Masala bonds issued by seven subsidiaries of Renew Power
Pakistan
Renewable energy deal of the year – Hydropower
Water and Power Development Authority
US$1.37 billion Dasu hydropower project – Stage 1
Lead adviser:
Habib Bank
Shariah advisers:
Habib Bank, Meezan Bank
Arrangers:
Askari Bank, Bank Alfalah, Faysal Bank, Habib Bank, Meezan Bank,
National Bank of Pakistan, United Bank
The transaction revives the appetite for hydroelectric power project, and the financing has paved the way for WAPDA to borrow on its balance sheet as against a guarantee by the Pakistani government
Renewable energy project of the year - Solar
AJ Power (Private) Limited
673 million Pakistan rupee and US$5.75 million syndicated multi-currency term financing
Lead advisers and arrangers (Pakistan rupee):
Bank of Punjab, MCB Bank
Lead advisers and arrangers (US dollar):
MCB Bahrain, MCB Dubai
To finance the installation of a 12MW solar power generation plant in Punjab
Oil and gas deal of the year
Pak Arab Pipeline Company
11.80 billion Pakistan rupee syndicated term finance facility
Mandated lead advisers and arrangers:
MCB Bank, Meezan Bank
To partially finance the upgrade of existing motor gasoline pipeline and converts it into multi-product use
Telecom deal of the year
Pakistan Mobile Communications
26.75 billion Pakistan rupee syndicated term finance facility
Lead advisers and arrangers:
Allied Bank, MCB Bank, National Bank of Pakistan, United Bank
To finance the capital expenditure requirements and acquisition of 4G license
Sri Lanka
Oil and gas deal of the year
LAUGFS Terminal Limited
US$65 million long term loan with ECA-backed tranche
Sponsor:
LAUGFS Gas
Structuring bank and arranger:
Standard Chartered
ECA:
Sinosure
The terminal is a first of its kind project in Sri Lanka, which will not only cater to the country’s growing LPG demand, but also meet the LPG demand in some of the countries in Southeast Asia and South Asia.
Transport deal of the year
Airport and Aviation Services (Sri Lanka) Limited
US$44 million Sinosure facility
Sole arranger:
HSBC
ECA:
Sinosure
To fund the runway overlay and associated works at Bandaranaike international airport and marked the company’s first ECA-supported financing
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