Regional Awards 2016
Republic of Indonesia
The Republic of Indonesia had another stellar fund raising year in 2016, pushing the boundaries when it comes to conventional and Islamic capital raising, and broadening its investor base across different currencies. It exemplified its stature as Asia's most frequent sovereign issuer as it tapped the US dollar, euro, yen, and the global sukuk markets during the year.
State Grid Corporation of China
Since its successful debut in the offshore debt market in 2013, State Grid Corporation of China has become a major issuer in the offshore bond market. In May 2016, it priced a US$1 billion and €1 billion bond deal in multiple tranches. Last year saw State Grid enter into the global clean energy space when it acquired the Brazilian power company CPFL Energia from Camargo Correa SA for US$13.3 billion.
DBS contributed to the further development of the capital markets in Asia in 2016, with landmark bond transactions across the capital structure, and the diversifying of its funding and investor base. DBS Group Holdings took advantage of the favourable market conditions and priced last August its first US dollar-denominated Basel III-compliant additional tier 1 (AT1) capital securities amounting to US$750 million.