Regional Awards 2017
Republic of Indonesia
The Republic of Indonesia is a repeat winner as the sovereign issuer of the year with another series of landmark transactions in 2017 across the G3 bond markets – both in conventional and Islamic capital markets. It capped the year with another rating upgrade in December from Fitch Ratings – its second in 2017 following the rating action in May by S&P Global Ratings that finally lifted it into a full investment grade rating status.
Considered as a standard bearer in Asian credit space with strong reputation among the global investors, CK Hutchison epitomizes a savvy issuer for its well-timed deal execution. The company raised over US$5 billion from the US dollar bond market alone in three transactions in 2017, including a US$2.25 billion three-tranche offering in September – its largest issuance since the completion of its reorganization in 2015.
DBS is another repeat winner as best issuer at it continued to diversify its investor base in 2017 by tapping into new pool of liquidity and demand in different currencies. It accessed the covered bond market for the third time in January, this time the euro bond market. Then in July, it printed the first green bond by a Singapore financial institution amounting to US$500 million, which generated a robust demand from both conventional and green investors.