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Tuesday, 19 February 2019

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Bank of the Year

Bank of the Year

IFR Asia Awards 2018

In a year of firsts across Asia’s capital markets, one bank was a regular feature on the most innovative deals and landmark transactions. For using its global clout to move Asian markets forward, Morgan Stanley is IFR Asia’s Bank of the Year.

Asian Bank of the Year

Asian Bank of the Year

IFR Asia Awards 2018

In a year when trade tensions and rising interest rates rattled Asia’s emerging markets, one bank turned its stable home base to its advantage. For its carefully targeted approach to Asia, Australia & New Zealand Banking Group is IFR Asia’s Asian Bank of the Year.

Issuer of the Year

Issuer of the Year

IFR Asia Awards 2018

In a tough year for many emerging markets, India’s biggest private sector company completed its most remarkable funding programme so far. For its commitment to expanding its funding sources, and for its impeccable timing, Reliance Industries is IFR Asia’s Issuer of the Year.

Bond House

Bond House

IFR Asia Awards 2018

The bull run in bonds came to a screeching halt in 2018, but one bank did more than its peers to help Asian issuers access international funding. For charting the best course through choppy markets, HSBC is IFR Asia’s Bond House of the Year.

Investment-Grade Bond

IFR Asia Awards 2018

China National Chemical Corp (ChemChina) pushed the boundaries of the international capital markets in March with Asia’s biggest Reg S-only bond, raising US$6.4bn across six tranches – five in US dollars and a €1.2bn long four-year in euros.

High-Yield Bond

IFR Asia Awards 2018

Nagacorp’s US$300m debut bond introduced the first Cambodian issuer to the international markets and was arguably one of the most difficult deals executed in Asia in 2018.

High-Yield Bond House

High-Yield Bond House

IFR Asia Awards 2018

With high-yield bonds under pressure for most of 2018, one bank excelled at guiding first-time issuers and challenging credits through tough markets. For picking its spots and supporting its clients, Credit Suisse is IFR Asia’s High-Yield Bond House of the Year.

SRI Bond, Islamic Issue

IFR Asia Awards 2018

The Republic of Indonesia laid down an important marker in Asia’s sustainable finance arena, becoming the first sovereign in the region to sell Green securities to offshore investors, and the first worldwide to sell Green sukuk.

Domestic Bond

IFR Asia Awards 2018

Few bonds over the decades can claim a potentially revolutionary impact on capital markets, but the World Bank and Commonwealth Bank of Australia won that right with the world’s first public offering of blockchain bonds.

Loan House, India Loan House

Loan House, India Loan House

IFR Asia Awards 2018

Amid fierce competition and a drop in deal volume, arrangers faced greater challenges to make returns in 2018. For showing leadership with an array of acquisition and structured financings, and successful distribution, Citigroup is IFR Asia’s Loan House of the Year.

Loan

IFR Asia Awards 2018

The financing for Asia’s biggest private equity buyout raised the bar for the region’s leveraged finance industry, illustrating the kind of scale and complexity that the Asian loan market can offer to cash-rich financial sponsors.

Equity House

Equity House

IFR Asia Awards 2018

In an extraordinary year for Asia’s equity capital markets, one bank was in the driving seat on the biggest and most important deals across the full range of products. For bouncing back to its best, Goldman Sachs is IFR Asia’s Equity House of the Year.

Structured Equity House

Structured Equity House

IFR Asia Awards 2018

With equity-linked issuance surging and volatility back on the radar, one bank stood out with its ability to raise funds across different markets. For its breadth of business and continued innovation, Credit Suisse is IFR Asia’s Structured Equity House of the Year.

Equity Issue

IFR Asia Awards 2018

In a year when Hong Kong’s stock exchange passed reforms aimed at attracting more technology companies, it is fitting that the city’s biggest tech stock should have been at the heart of the most significant – and impressive – deal of the year.

Structured Equity Issue, S Korea Capital Markets Deal

IFR Asia Awards 2018

A US$610m dual-currency convertible from South Korean chemicals maker LG Chem showed the potential for innovative equity-linked issuance from the country.

Turnaround deal

IFR Asia Awards 2018

Anton Oilfield Services Group earns this year’s Turnaround Deal award for a transaction that dealt with a near-term maturity and earned it ratings upgrades and breathing room while oil prices were in the doldrums.

Structured Finance Issue

IFR Asia Awards 2018

Clifford Capital’s first securitisation of project finance loans revived Asian interest in collateralised loan obligations, created a new asset class for the region and enhanced Singapore’s claim as a centre for infrastructure financing.

Frontier Markets Bond

IFR Asia Awards 2018

The Independent State of Papua New Guinea put itself firmly on the map for global fund managers with a wildly popular debut sovereign bond, proving that the capital markets can provide essential growth funding even in torrid conditions.

Frontier Markets Equity Issue

IFR Asia Awards 2018

The record D31trn (US$1.3bn) initial equity offering of property developer Vinhomes tested the limits of the Vietnamese stock market, proving that the fast-growing country has the ability to host sizable offerings.

Australia/New Zealand Bond House

IFR Asia Awards 2018

Australia and New Zealand Banking Group defended its crown again in 2018 with a series of groundbreaking deals across the primary issuance spectrum.

Australia/New Zealand Equity House

IFR Asia Awards 2018

UBS used its strong local franchise and full-service equities offering to full effect in 2018, raising more for its Australian clients than any of its peers.

Australia/New Zealand Loan House

IFR Asia Awards 2018

Australia and New Zealand Banking Group outperformed competitors in its home market in 2018 with leading roles in the biggest leveraged buyouts and infrastructure financings of the year.

China Bond House

IFR Asia Awards 2018

With Chinese growth slowing, US interest rates rising, and trade tensions adding to a volatile backdrop, Bank of China showcased its ability to raise funds for Chinese issuers in challenging market conditions.

China Equity House

IFR Asia Awards 2018

Morgan Stanley stood out in 2018 for its ability to deliver equity capital to China’s technology sector, staying ahead of regulatory changes and doing more than its rivals to develop the market.

China Loan House

IFR Asia Awards 2018

In a year when restrictions on capital outflows and geopolitical tensions made event-driven financings from China few and far between, China Citic Bank stood out from its peers with bold underwrites on two high-profile outbound M&A loans totalling over US$7bn.

Renminbi bond

IFR Asia Awards 2018

The Republic of the Philippines shook up China’s Panda bond market in March with an exceptionally tight debut that won enthusiastic participation from international investors.

Hong Kong Loan House

IFR Asia Awards 2018

HSBC stood out among competitors with a book of business that ranged from leveraged loans for dividend recapitalisations to green financings for first-time borrowers.

Hong Kong Equity Issue

IFR Asia Awards 2018

The HK$3.8bn (US$485m) IPO of Innovent Biologics proved Hong Kong could support major listings of pre-revenue biotech companies. Although not the first – or the largest – its flawless debut revived the stock exchange’s efforts to create a sustainable new sector.

India Bond House

IFR Asia Awards 2018

In a domestic debt market roiled by rising yields and a high-profile default, AK Capital stood out with fresh ideas, including a market-leading smart city bond, and for helping restore confidence in non-bank financial institutions.

India Equity House

IFR Asia Awards 2018

Citigroup cemented its leadership in the Indian equity capital market in 2018 with an unrivalled book of business despite challenging market conditions.

Indonesia Loan House

IFR Asia Awards 2018

Despite currency volatility, looming elections, and a challenging macroeconomic environment, Standard Chartered never missed a beat in Indonesia in 2018, leading the biggest and most challenging transactions of the year.

Indonesia Capital Markets Deal

IFR Asia Awards 2018

Jasa Marga opened an alternative source of funding for Indonesian issuers with the first offshore rupiah bond, creating a new asset class for global investors and a new way of channelling funds into Asian infrastructure.

Malaysia Bond House

IFR Asia Awards 2018

A watershed general election that ushered in a new government provided a challenging backdrop for the Malaysian ringgit market, but CIMB Investment Bank sailed calmly through the choppy waters and helped maintain confidence in the bond market.

Malaysia Capital Markets Deal

IFR Asia Awards 2018

Yinson Holdings overcame investors’ concerns over a protracted global downturn in the oil and gas industry with a smart liability management strategy that added to the development of Malaysia’s Islamic bond market.

Singapore Capital Markets Deal

IFR Asia Awards 2018

Temasek Holdings has long been a hot ticket in the bond market, but its first retail offering was a landmark event that gave more than 53,000 individual investors an alternative channel for their savings and restored confidence in fixed-income investments.

Singapore Loan House

IFR Asia Awards 2018

DBS continued to stand out in another challenging year for Singapore’s loan markets, which saw a significant decline in event-driven financings and an increase in club deals.

Taiwan Loan House

IFR Asia Awards 2018

In an intensely competitive landscape, CTBC Bank outperformed its peers again in 2018 with superior structuring capabilities, playing a proactive role in leveraged buyouts and seizing opportunities to bring international borrowers to Taiwan.

Taiwan Capital Markets Deal

IFR Asia Awards 2018

The State of Qatar’s US$6bn 30-year Formosa bond offering highlighted the diversification benefits and depth of demand in the Taiwanese market.

Thailand Bond House

IFR Asia Awards 2018

The baht-denominated bond market powered ahead in 2018 with record corporate issues and landmark REIT deals, and Kasikornbank was in pole position, well ahead of its competitors.

Thailand Capital Markets Deal

IFR Asia Awards 2018

Thai Beverage’s Bt77bn (US$2.3bn) seven-tranche offering made history as Thailand’s largest corporate bond, proving that South-East Asia’s biggest local bond market can support even the most audacious of acquisitions.

Digital version

The hard copy of the 2018 IFR Asia Awards is sent to all IFR Asia magazine subscribers, but non-subscribers can view a full digital version for free by clicking here.

Download the Roll of Honour – a PDF containing the full list of this year’s winners

If you would like to order the 2018 IFR Asia Awards in hard copy, please contact gloria.balbastro@tr.com.

2018 IFR Awards

The IFR Awards honour achievement in global capital markets. The Awards will be presented at the 2018 IFR Awards Dinner, taking place at Grosvenor House, London on Tuesday January 29 2019.

IFR Asia Awards 2018

The end of 2018 may not feel like much cause for celebration in Asia’s capital markets, but it would be a mistake to overlook the tremendous achievements of the past 12 months.

Beyond the Chinese wall

Beyond the Chinese wall

The barriers around China’s capital markets are coming down, just as politicians threaten to escalate Sino-US tensions into an all-out trade war.

Global Ambition

Global Ambition

Japanese banks have for decades been criticised, fairly or unfairly, for a boom-bust approach to international business. Amid ongoing monetary stimulus at home, how do their global ambitions stack up today?

Don’t panic!

Don’t panic!

The past 12 months have been a rollercoaster ride for Asia’s credit markets. But to this seasoned operator, an end to the exuberance of recent years is no cause for alarm.

The year in numbers 2018

The year in numbers

The year in numbers

Glossary 2018

Alternative definitions of the year’s buzzwords

Rising US interest rates and geopolitical tensions weigh heavily on the outlook for 2018

The year in cartoons

The year in cartoons

Reg S: Australia’s Royal Commission reveals some shady practices

Reg S: Australia’s Royal Commission reveals some shady practices

To see the digital version of this review, please click here .

Reg S: The team adjusts to a world of low banking fees

Reg S: The team adjusts to a world of low banking fees

To see the digital version of this review, please click here .

Reg S: An anonymous letter causes a flap

Reg S: An anonymous letter causes a flap

To see the digital version of this review, please click here .

Reg S: The team tries out an automated bookbuilding system

Reg S: The team tries out an automated bookbuilding system

To see the digital version of this review, please click here .