The Asset Triple A Regional Deal Awards 2017 - Best Deals - Fixed Income

The Asset
Regional Awards 2017

Best Deals - Fixed Income

Best bond

Paiton Energy US$2 billion dual-tranche bond
Barclays, HSBC
Barclays, Citi, DBS, Deutsche Bank, HSBC
SMBC Nikko

The first US dollar project bond in Asia since 2000. It was also the largest bond issuance ever from the Indonesian private sector and achieved record low yields for an Indonesian private sector corporate
Best sovereign bond

Government of Mongolia exchange offer and US$600 million new bond
SC Lowy
Credit Suisse, J.P. Morgan

The transaction relieves pressure on government liquidity and the country’s external position, as well as extends the sovereign’s debt profile
Best quasi-sovereign bond

Export-Import Bank of China US$3 billion equivalent dual currency bond
Bank of China, Barclays, Bank of Communications (HK), BOCOM International, Credit Agricole CIB, ING, KGI Asia, MUFG, Westpac Banking Corporation
Bank of China, Barclays, Bank of Communications (HK), Credit Agricole CIB, ING, MUFG

Achieved the lowest euro re-offer spread for three years at that time
Best corporate bond

Alibaba Group Holding US$7 billion multi-tranche offering
Citi, Credit Suisse, Goldman Sachs, J.P. Morgan, Morgan Stanley

Largest Asian corporate bond offering since Alibaba’s own US$8 billion debut in November 2014 and the largest amount of long-dated bond financing for an Asian issuer, including the first 40-year tenor in over two decades
Best bank capital bond

Postal Savings Bank of China US$7.25 billion additional tier 1 capital securities
Bank of America Merrill Lynch, CICC HK Securities, DBS, Goldman Sachs, Haitong International, HSBC, ICBC (Asia), J.P. Morgan, Morgan Stanley, UBS
ABC International, Bank of America Merrill Lynch, BOC International, CCB International, China Merchants Securities (HK), CICC HK Securities, CITIC CLSA Securities, Credit Agricole CIB, DBS, Deutsche Bank, Goldman Sachs, Haitong International, HSBC, Huarong Financial, ICBC (Asia), ICBC International, J.P. Morgan, Morgan Stanley, Ping An of China Securities (HK) Company, SinoPac Securities (Asia), Standard Chartered, UBS

The largest ever additional tier 1 capital issuance from a Chinese commercial bank and the largest ever single tranche Asian US dollar offering to date
Best investment grade bond

CK Hutchison US$2.25 billion triple tranche bond
Barclays, Citi, Goldman Sachs, Morgan Stanley

Achieved the tightest ever issuance spread on a three-year and 10-year US dollar bond
Best high yield bond

Indika Energy US$575 million senior note
Citi, Standard Chartered

The transaction achieved one of largest demand for an Indonesian high yield corporate in 2017 and helps facilitate the transformation of Indika Energy’s credit profile with a rating upgrade from Moody’s Investors Service
Best local currency bond

Jasa Marga 4 trillion rupiah Komodo bond
HSBC
HSBC, Mandiri Sekuritas
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
Best renminbi bond

Maybank one billion renminbi onshore financial Panda bond
China Development Bank, HSBC
China Development Bank

The first financial Panda offering with a focus to finance projects and activities in connection with the Belt and Road initiatives
Best new bond

Press Metal Aluminium Holdings US$400 million senior note
Citi, Deutsche Bank, J.P. Morgan, Maybank Investment Bank

First US dollar high yield, rated corporate issuance out of Malaysia over the past decade and achieved a 9.5x oversubscription and 45bp tightening from initial guidance to final pricing
Best green bond

Industrial and Commercial Bank of China (Luxembourg) US$2.15 billion equivalent multi-tranche dual currency bond
Crédit Agricole CIB, HSBC
Bank of America Merrill Lynch, Crédit Agricole CIB, HSBC, ICBC (Asia)
Bank of America Merrill Lynch, BNP Paribas, Citi, Crédit Agricole CIB, HSBC, ICBC, ICBC International, ICBC (Asia), SEB, Societe Generale CIB, Standard Bank, UBS

The first Belt and Road climate bond and the first green bond issued in alignment with both ICMA green bond principles and PBoC green bond categories by a Chinese financial institution
Best liability management

Vedanta Resources any-and-all tender offer with US$1 billion new bond
Barclays, Citi, J.P. Morgan, Standard Chartered

First tender offer by an Indian issuer in accordance with the amended guidelines allowing shortened offer periods. It reduced weighted average interest cost, smoothen near term maturity towers, extend debt maturity profile and lock-in longer term financing at low interest rates
Most innovative deal

FWD Group US$500 million zero coupon subordinated perpetual capital
HSBC, J.P. Morgan, Standard Chartered

New template for the hybrid market that can be accessed by corporate and select insurers alike
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