Who are the Best corporate and institutional banks in 2017?

Five banks are nominated for the Best corporate and institutional bank at The Asset Regional House and Deal Awards

FACING increasing fee competition from local Chinese institutions, such as CITIC Securities and CICC, international banks have had to reevaluate the value of their participation in deals now saturated by a number of other competing institutions. For some, this meant focusing their coverage on specific sectors, such as technology. For others, it was a chance push into new markets. As such, The Asset Triple A Awards is pleased to present the nominees for the Best corporate and institutional bank award for 2017.

Throughout 2017, Citi worked with a wide range of clients spanning sovereigns such as the Republic of Indonesia and Asian champions including Alibaba. The bank saw increased activity in its M&A franchise, particularly when it came to insurance transactions. Significant deals include the US$17.9 billion privatization of GLP, the largest leveraged buy-out in Asia to date. In the equity market, Citi had a significant edge in highly-competitive markets such as Korea. Citi also pushed out in frontier markets, in deals such as in Vincom Retail’s US$709 million IPO.

Credit Suisse also participated in its fair share of key Asian deals. As well as participating in the groundbreaking Vincom Retail IPO, the Swiss-based bank was one of the most active participants in the Hong Kong tech IPO revival. The bank was joint global coordinator for China Literature’s US$1.1 billion deal which was the first spin-off listing of Chinese multinational Tencent. Credit Suisse’s M&A team was, as in previous years, very active in the Greater China space. During the review period the bank closed ChemChina’s US$43 billion acquisition of Syngenta and I Squared Capital’s US$1.86 billion acquisition of Hutchison Global. The bank has a strong presence in emerging Southeast Asian markets such as Indonesia.

Deutsche Bank was steadfast in emerging markets, participating in the Vincom Retail IPO, and VietJet’s US$167 million IPO, the first in the Vietnamese market with a Reg S compliant prospectus. Deutsche Bank was also active in the Asian high yield bonds space, participating in Gajah Tunggal’s US$250 million senior secured notes. The bank has an impressive track record in sovereign bonds including China’s US$2 billion trade last October. Deutsche Bank also has a well-balanced loan portfolio of transactions ranging from corporates to sovereigns.

Morgan Stanley has been nominated as one of key corporate and institutional banks in Asia due to its involvement in a number of equity deals, such as China Literature’s IPO and ZhongAn’s US$1.75 billion IPO. ZhongAn’s IPO was the first large-scale fintech company listing in Hong Kong and the largest fintech IPO in Asia. In M&A, Morgan Stanley demonstrated the ability to execute important deals in Asia. Like Citi, the bank participated in GLP’s privatization and China Investment Corporation’s US$14 billion acquisition of Logicor. Morgan Stanley was also involved in ExxonMobil’s acquisition of InterOil – a rare transaction in the frontier market of Papua New Guinea.

UBS leveraged its Greater China strength to be involved in several significant M&A transactions, such as ChemChina’s acquisition of Syngenta and PAG Asia Capital’s US$1.5 billion acquisition of Yingde Gases. UBS was a leader in the high yield bond space, taking part in several deals in China, India and Indonesia. A noteworthy deal for the bank in fixed-income was Postal Savings Bank of China’s US$7.25 billion AT1, the largest AT1 to date from a Chinese bank. In terms of equity coverage, the Swiss bank was not only involved in ZhongAn’s IPO but also Singapore’s NetLink NBN Trust S$2.35 billion (approx. US$1.8 billion) IPO and Korea’s Celltrion Healthcare US$887 million IPO.


The winner of the Best Corporate and Institutional Bank will be announced during The Asset Regional House and Deal Awards dinner on February 1 at the Four Seasons Hotel, Hong Kong. Please click here for more details.

Date

26 Jan 2018

Channel

Awards

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