The Asset Triple A
Islamic Finance Awards 2019
Treasury and Trade/Digital Finance
Islamic deal of the year / Best sukuk / Most innovative deal
HSBC Amanah 500 million ringgit United Nations sustainable development goals sukuk
Sole SDG structuring adviser and lead arranger: HSBC Amanah
Lead managers: HSBC Amanah, Maybank Investment Bank, RHB Islamic Bank
World’s first sustainable development goals (SDG) sukuk with proceeds of this to be utilized to finance eligible businesses and projects in accordance with HSBC’s SDG Bond Framework.
Best equity deal
Bank BRIsyariah 1.338 trillion rupiah IPO
Lead underwriters: Bahana Sekuritas, CLSA Sekuritas Indonesia, Danareksa Sekuritas, Indo Premier Sekuritas
Deal represented the largest Islamic bank IPO in Indonesia that saw significant participation from pension funds and foreign institutional investors.
Best exchangeable sukuk
Khazanah Nasional US$320.8 million cash-settled exchangeable sukuk issuance
Bookrunners and lead managers: CIMB, J.P. Morgan
The sukuk is exchangeable into H-shares of CITIC Securities and was fully covered shortly after launch with a final demand of 5.5 times book size.
Best sovereign sukuk / Best green sukuk
Republic of Indonesia US$1.25 billion green sukuk
Green structuring adviser: HSBC
Bookrunners: Abu Dhabi Islamic Bank, CIMB, Citi, Dubai Islamic Bank, HSBC
The Republic of Indonesia’s deal represents the first time a sovereign has tapped the green sukuk market that is fully compliant with the International Capital Market Association Green Bond Principles and aligned with the Asean Green Bond Standards.
Best quasi-sovereign sukuk
DP World US$3.3 billion multi-tranche, multi-currency new issue and tender offer
Bookrunners: Barclays, Citi, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan, Société Générale, Standard Chartered
One of the largest corporate deals from the Middle East and was DP World’s debut sterling and euro issuances.
Best SRI sukuk
UiTM Solar Power 222.3 million ringgit ASEAN green SRI sukuk
Lead manager: Affin Hwang Investment Bank
First green financing undertaken by a public institute of higher education in Malaysia setting a benchmark for universities in the country.
Best government-guaranteed sukuk
Pengurusan Air 2.1 billion ringgit government guaranteed IMTN issuance
Lead managers: AmInvestment Bank, Maybank Investment Bank
Inaugural government-guaranteed issuance post-general election 2018 in Malaysia.
Best supranational sukuk
Islamic Development Bank €650 million sukuk
Lead managers: Crédit Agricole CIB, Natixis, Landesbank Baden-Württemberg, Standard Chartered
First ever euro denominated sukuk offering from the Islamic Development Bank.
Best corporate sukuk
Tenaga Nasional US$750 million sukuk wakala
Lead managers and bookrunners: BNP Paribas, CIMB, Citi, HSBC Amanah
Was able to raise long-term funds despite the volatile market backdrop at the time.
Best new sukuk
Serba Dinamik Holdings 800 million ringgit dual tranche sukuk
Shariah adviser: RHB Islamic Bank
Sole principal adviser and lead arranger: RHB Investment Bank
Lead managers: Affin Hwang Investment Bank, RHB Investment Bank, Standard Chartered
Issuance received significant demand allowing pricing to be tightened to the lowest end of the indicative price guidance and an upsize from 300 million ringgit to 800 million ringgit.
Best corporate hybrid sukuk
Yinson TMC 950 million ringgit perpetual sukuk
Principal advisers, lead arrangers and lead managers: AmInvestment Bank, Maybank Investment Bank
Malaysia’s first perpetual sukuk based on the Shariah principle of mudharaba.
Best unrated sukuk
Eco World International 180 million ringgit unrated sukuk murabaha
Principal advisers, lead arrangers and lead managers: CIMB, Maybank Investment Bank
First unrated ringgit sukuk to be issued via a bookbuilding exercise.
Best bank capital sukuk (Asia Pacific)
Affin Islamic Bank 1.1 billion ringgit AT1 sukuk wakala and T2 sukuk murabaha
Principal adviser, lead arranger and lead manager: Affin Hwang Investment Bank
Affin Islamic Bank’s inaugural offering in Islamic capital markets which qualifies as additional tier 1 or tier 2 regulatory capital.
Best bank capital sukuk (EMEA)
Abu Dhabi Islamic Bank US$750 million perpetual non-call 5-year additional tier 1 sukuk
Lead managers and bookrunners: ADIB Capital, Citi, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan, Sharjah Islamic Bank, Standard Chartered
First fully Basel III compliant AT1 issue from the UAE after new rules were published in early 2018.
Best local currency sukuk
Cagamas 1.5 billion ringgit commodity murabaha
Lead managers: AmInvestment Bank, CIMB
First triple A issuer to issue a sukuk after Malaysia’s general election in 2018 resulting in strong demand from investors leading to a issuance upsize of 500 million ringgit.
Best structured finance sukuk (Asia Pacific)
MBSB Bank 2.295 billion ringgit structured covered sukuk facility
Principal advisers, lead arrangers and lead managers: AmInvestment Bank, RHB Investment Bank
First structured covered sukuk issued in Malaysia under the Shariah principle of hiwalah.
Best structured finance sukuk (EMEA)
Al Rayan Bank £250 million residential mortgage-backed securities sukuk
Lead managers: Al Rayan Bank, Standard Chartered
Opens up a new funding avenue for Islamic banks using UK Islamic residential mortgage-backed securities.
Best project finance deal
DanaInfra Nasional 2.5 billion ringgit sukuk
Lead arrangers: AmInvestment Bank, CIMB, Maybank Investment Bank, RHB Investment Bank
Lead managers and bookrunners: AmInvestment Bank, Bank Islam Malaysia, CIMB, Kenanga Investment Bank, Maybank Investment Bank, RHB Investment Bank
Inaugural public funding for the Pan Borneo Highway.
Best syndicated loan
Kingdom of Saudi Arabia US$16 billion dual-tranche syndicated facility
Coordinators, mandated lead arrangers and bookrunners: HSBC, J.P. Morgan, MUFG
Mandated lead arrangers and bookrunners: Bank of China, Citibank, Credit Agricole, ICBC, Mizuho Bank, Standard Chartered, Sumitomo Mitsui Banking Corporation
Mandated lead arrangers: BNP Paribas, Goldman Sachs, Societe Generale
Lead arrangers: Bank of America Merrill Lynch, Deutsche Bank, Morgan Stanley
One of the largest Islamic syndicated facility globally that was upsized from US$12.5 billion to US$16 billion due to strong demand.
Treasury and Trade/Digital Finance
Best trade finance solution
BGMC 95 million ringgit Islamic trade finance facility and revolving contract financing
Service provider: OCBC Malaysia
Facility provides assurance that company will have access to financing when they secure bigger contracts.
Best digital banking product
Service provider: Maybank Islamic Bank
Malaysia’s first rent-to-own home ownership plan in the country on a digital platform where the application and submission of supporting documents in relation to this scheme are required to be made online.