Celebrating Excellence

FinanceAsia reveals 2020's best issuers and deals

We are pleased to announce the deal and issuer awards winners for our Achievement Awards 2020.
 
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
 
¬ Haymarket Media Limited. All rights reserved.

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