Congratulations to the issuer and deal award winners of our Achievement Awards for 2020.
The following represent the best financial markets transactions and issuers since December 1, 2019.
Full write-ups will be published online in mid-December and in the winter edition of FinanceAsia magazine.
CORPORATE CAPITAL RAISER OF THE YEAR
Jio Platforms
ESG CAPITAL RAISER OF THE YEAR
Bank of China
FINANCIAL INSTITUTION BORROWER OF THE YEAR
AIA
Highly commended: OCBC
SOVEREIGN BORROWER OF THE YEAR
Government of Mongolia
DEAL OF THE YEAR, MEGATREND DEAL OF THE YEAR – TECHNOLOGY
Jio Platforms Rs435.7 billion ($5.83 billion) sale of a 9.99% stake to Jaadhu Holdings (Facebook)
Financial advisors:
Sell side: Morgan Stanley
Buy side: BofA Securities
Legal advisors:
Sell side: AZB & Partners, Davis Polk & Wardwell
Buy side: Hogan Lovells
EQUITY DEAL OF THE YEAR
JD.com’s HK$34.56 billion ($4.46 billion) Hong Kong secondary listing
Joint sponsors: BofA Securities, CLSA, UBS
Joint global co-ordinators: BOCI, CCBI, China Renaissance, Jefferies
Legal advisors:
Issuer: Maples and Calder; Shihui Partners; Skadden, Arps, Slate, Meagher & Flom
Managers: Clifford Chance, Han Kun
IPO OF THE YEAR
XPeng’s $1.7 billion New York IPO
Financial advisors and underwriters: Credit Suisse, JP Morgan, BofA Securities,
Underwriters: ABCI Securities, BOCI Asia, Haitong International, Futu5.com, Tiger Brokers
Legal advisors:
Issuer: Fangda Partners, Harney Westwood & Riegels, Simpson Thacher & Bartlett
Managers: JunHe, Latham & Watkins
M&A DEAL OF THE YEAR
Petrochina’s $49.2 billion sale of its pipeline, gas storage and LNG terminal assets to PipeChina
Financial advisors:
Sell side: Goldman Sachs, China Securities, UBS
Buy side: BOCI, CICC, Citic Securities
Legal advisors:
Sell side: Freshfields Bruckhaus Deringer, Sullivan & Cromwell (to Goldman Sachs)
Buy side: Clifford Chance
BOND DEAL OF THE YEAR
AIA’s $1.75 billion subordinated bond
Active bookrunners: HSBC, Morgan Stanley, Standard Chartered, Wells Fargo
Passive bookrunners: ANZ, BNP Paribas, Credit Agricole
Legal advisors:
Issuer: Debevoise & Plimpton
Managers: Clifford Chance
Highly commended: PLDT’s $600 million bond
ISLAMIC FINANCE DEAL OF THE YEAR
Axiata’s $600 million and RM867 million ($168 million) syndicated Islamic sustainability-linked financing
Lead co-ordinating mandated lead arranger: OCBC
Mandated lead arrangers: Maybank, MUFG
Legal advisor: Rahmat Lim & Partners (arrangers)
PROJECT FINANCE DEAL OF THE YEAR
Changfang and Xidao's NT$90 billion ($3 billion) 589 MW offshore wind financing
Sponsors: Copenhagen Infrastructure Partners, Taiwan Life Insurance, TransGlobe Life Insurance
Financial advisors: MUFG, CTBC
Mandated lead arrangers: MUFG, ABN AMRO, Credit Agricole, CTBC, Deutsche Bank, DBS, EnTie, E-SUN, HSBC, JP Morgan, KDB, KGI Bank, KFW, Mizuho, Natixis, OCBC, Santander, Soc Gen, Standard Chartered, SMBC, Taipei Fubon
Financing cover: Atradius, EKF, GIEK, KFW, K-SURE, NEXI, UKEF
Legal advisors:
Sponsors: Baker McKenzie, White & Case
Arrangers: Linklaters, Lee & Li, Watson Farley & Williams
VENTURE CAPITAL/PRIVATE EQUITY DEAL OF THE YEAR
The $9.68 billion take-private of 58.com
Investor consortium: Warburg Pincus Asia, General Atlantic Singapore, Ocean Link Partners, Yao Jinbo
Loan provider: Shanghai Pudong Development Bank
Legal advisors:
Buy side: Fangda Partners, Kirkland & Ellis; Maples and Calder; Paul, Weiss, Rifkind, Wharton & Garrison; Weil, Gotshal & Manges; Wilson Sonsini Goodrich & Rosati
Sell side: Conyers, Dill & Pearman; Fenwick & West; Han Kun; Houlihan Lokey; Skadden, Arps, Slate, Meagher & Flom
Lenders: Linklaters
BEST CAPITAL RAISE DURING COVID-19
Cathay Pacific’s HK$39 billion ($5 billion) recapitalisation
Recapitalization (preference shares with warrants and bridge loan)
Financial advisor: Goldman Sachs
Legal advisor issuer: Slaughter and May
Rights issue
Financial advisors:
Issuer: Morgan Stanley
Independent shareholders: Anglo Chinese
Underwriters: BOCI, BNP Paribas, HSBC, Morgan Stanley
Legal advisors
Issuer: Linklaters
Managers: Allen & Overy
MEGATREND DEAL OF THE YEAR – ESG
Star Energy Geothermal Salak – Darajat’s $1.1 billion amortizing senior secured green bond
Global co-ordinators: Credit Suisse, DBS, Deutsche Bank
Joint bookrunner: Barclays
Co-manager: BPI Capital
Legal advisors:
Issuer: Assegaf Hamzah & Partners, Clifford Chance, Lennox Paton, Walkers
Managers: Hiswara Bunjamin & Tandjung, Mayer Brown, Milbank
MEGATREND DEAL OF THE YEAR – HEALTHCARE
RemeGen’s HK$3.99 billion ($514 million) Hong Kong IPO
Joint sponsors: Morgan Stanley, Huatai International, JP Morgan
Joint global co-ordinator: UBS
Joint bookrunners: BOCI, Bocom International, Haitong International, Zhongtai International
Legal advisors:
Issuer: King & Wood Mallesons, O’Melveny & Myers
Managers: Davis Polk & Wardwell, Tian Yuan
Highly commended: Hangzhou Tigermed’s HK$12.3 billion ($1.6 billion) Hong Kong secondary listing
MEGATREND DEAL OF THE YEAR - PROPERTY
The S$8.2 billion ($6.1 billion) merger of CapitaLand Commercial Trust and CapitaLand Mall Trust
Financial advisors:
CCT: Credit Suisse
CMT: JP Morgan, ANZ (independent advisor to the board)
Legal advisors:
CCT: WongPartnership
CMT: Allen & Gledhill
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