Asia Infrastructure Awards 2019 - Best Deals by Country - North Asia

The Asset Triple A
Infrastructure Awards 2021

Country/Territory deal awards (North Asia)

China
Oil & gas deal of the year
China Gas Capital Management
US$20 million loan financing
Sponsor
China Gas Holdings
Lender
Asian Development Bank
Legal advisers
Allen & Overy, Mayer Brown
To help ensure emergency natural gas and liquefied petroleum gas supplies to households, hospitals, industry and other key services to support business continuity in Wuhan City and Hubei province amid the Covid-19 pandemic.
Water deal of the year
Shenzhen Water (Group) Company/Shenzhen Water and Environment Investment Group Company
US$200 million equivalent loan facility
Sponsors
Shenzhen Municipal Government, Veolia Environment SA, Beijing Capital Company
Lender
Asian Development Bank
Legal advisers
Allen & Overy, King & Wood Mallesons
To finance the development, construction and operation of a portfolio of urban water projects in China by Shenzhen Water. The project will support Shenzhen Water’s investment in multiple water supply and wastewater treatment facilities with smart water technologies and climate and disaster-resilient urban water infrastructure in Shenzhen and third and fourth-tier cities in China.
Hong Kong
Airport deal of the year
Airport Authority Hong Kong
HK$35 billion Equator-Principles-compliant syndicated loan facilities
Mandated lead arranger, bookrunner and general adviser
China Development Bank (Hong Kong)
Equator Principles adviser, mandated lead arranger, bookrunner and coordinator
HSBC
Mandated lead arrangers, bookrunners and coordinators
BOCHK, Sumitomo Mitsui Banking Corporation, ANZ, Standard Chartered
Mandated lead arrangers and bookrunners
ICBC (Asia), Bank of Communications (Hong Kong)
Mandated lead arrangers
Agricultural Bank of China (Hong Kong), Citi
Lead arrangers
Chiyu Banking Corporation, Bank of Nova Scotia (Hong Kong), Credit Agricole CIB, China Everbright Bank (Hong Kong), CMB Wing Lung Bank, Dah Sing Bank, DBS, Hang Seng Bank, Mizuho Bank, OCBC Bank, Shanghai Commercial Bank
Legal advisers
Deacons, Linklaters
The transaction was highly strategic for Airport Authority to fund the expansion and construction of the three-runway system (3RS) project at Hong Kong international airport. This was the first corporate syndicated loan facilities in Hong Kong that were compliant with the Equator Principles – a risk management framework adopted by financial institutions for determining, assessing and managing environmental and social risk in projects.
Japan
Renewable energy deal of the year – Offshore wind
Akita Offshore Wind Corporation
95.64 billion yen term, bridge and standby facilities
Sponsors
Marubeni Corporation, Obayashi Corporation, Tohoku Sustainable & Renewable Energy Company, Cosmo Eco Power Company, Kansai Electric Power Company, Chubu Electric Power Company, Akita Bank, Ohmori Company, Sawakigumi Corporation, Kyowa Oil Company, Katokensetsu Company, Kanpu Company, Sankyo Company
Financial adviser, mandated lead arranger and bookrunner
MUFG Bank
Mandated lead arrangers and bookrunners
Mizuho Bank, Sumitomo Mitsui Banking Corporation
Senior lender
Societe Generale
Legal advisers
Mori Hamada & Matsumoto, Nishimura & Asahi, Linklaters
The first large-scale commercial offshore wind project financing in Japan involving the construction of a 140-MW offshore wind farms in Akita and Noshiro ports in Akita prefecture. The project is the first of a series of so-called ports and harbour offshore wind projects being developed with the support of the Japanese feed-in tariff for renewable energy projects.
Renewable energy deal of the year - Hydro
M&C Tottori Hydro Power Company
23.30 billion yen financing facility
Sponsors
Chubu Electric Power Company, Mibugawa Electric Power Company, Chubu Company, Miho Technos Company
Financial adviser and mandated lead arranger
Sumitomo Mitsui Banking Corporation
This is the first concession project for hydroelectric power plants in Japan and the project aligns with some targets of UN Sustainable Development Goals (SDGs) as it contributes to increasing the amount of renewable energy and towards decreasing emission of carbon dioxide.
Taiwan
PPP deal of the year
Changfang Wind Power Company / Xidao Wind Power Company
NT$90 billion offshore wind project
Sponsors
Copenhagen Infrastructure Partners, Taiwan Life Insurance Company, TransGlobe Life Insurance
Financial advisers
MUFG, CTBC Bank (debt financing)
Mandated lead arrangers
Credit Agricole CIB, DBS, HSBC, Mizuho Bank, MUFG Bank, OCBC Bank, Sumitomo Mitsui Banking Corporation, Taiwan Life Insurance Company, CTBC Bank, Entie Commercial Bank, E.SUN Bank, KGI Bank, Taipei Fubon Bank, Deutsche Bank, Standard Chartered, J.P. Morgan, Natixis, Societe Generale, KfW IPEX Bank, Santander, Korea Development Bank, ABN AMRO
ECAs
EKF, GIEK, K-Sure, NEXI, UKEF, Atradius
Legal advisers
White & Case, Baker McKenzie, Watson Farley & Williams, Lee & Li, Linklaters
The 589-MW offshore wind farm is the latest step in the ambitious offshore wind buildout in Taiwan, with a fixed feed in tarriff with state-owned utility Taipower. It has the highest local content requirements among the offshore wind projects in Asia-Pacific to date and this is the first Taiwan offshore wind farm project to have equity participation by local insurance companies.
Renewable energy deal of the year – Floating solar
Chenya Energy Company
NT$7.23 billion floating solar project financing
Sponsor
Marubeni Corporation
Financial adviser and mandated lead arranger
DBS
Mandated lead arrangers
Societe Generale, KGI Bank, Sumitomo Mitsui Banking Corporation, Bank SinoPac
Lead arrangers
E.SUN Bank, First Commercial Bank
Legal advisers
Lee & Li, Russin & Vecchi
This is the first floating solar project in Taiwan and the financing facility is the first standard international style non-recourse loan for a large-scale floating solar power plant in Taiwan. The 181-MW project is the largest in the world to be built in an inter-tidal zone.
Renewable energy deal of the year – Ground-mounted Solar
Vena Energy Taiwan Solar Energy
US$77.5 million project financing
Sponsor
Vena Energy
Financial adviser and mandated lead arranger
DBS
Legal adviser
Watson Farley & Williams
This is the largest utility-scale solar project in Taiwan.