BPI Capital Corporation wins 8 awards from 3 regional finance magazines
MAKATI CITY, Philippines – BPI Capital Corporation, the fully-owned investment banking firm of Bank of the Philippine Islands, recently clinched multiple awards from The Asset, Alpha Southeast Asia, and IFR Asia, some of the most respected finance magazines in the region.
The awards from The Asset are “Best Corporate Bond, Philippines,” where the company acted as domestic lead manager for Ayala Corporation’s (AC) US$400 million guaranteed fixed-for-life perpetual notes issued by its wholly owned subsidiary AYC Finance Limited, “Best M&A/Best Acquisition Financing, Indonesia,” where BPI Capital acted as coordinator and mandated lead arranger for the Star Energy consortium's acquisition of Chevron's geothermal assets in Indonesia, and “Best LCY Microfinance Bond, Philippines,” where the company acted as lead arranger and bookrunner for ASA Philippines Foundation Inc.’s PhP2 billion corporate notes.
The awards from Alpha Southeast Asia include “Best Deal in Southeast Asia 2017” and “Best Leveraged Finance Backed M&A Deal in Southeast Asia 2017” for the Star Energy consortium’s acquisition financing, and “Best Bond Deal for Retail Investors in Southeast Asia 2017” for its work with the PhP181 billion 3-year retail treasury bonds issued by the Bureau of the Treasury of the Philippines.
And as for the IFR Asia Awards, BPI Capital won the “Philippines Capital Markets Deal” for the AYC Finance Limited US$400 million 5.125% perpetual notes, and the “Indonesia Capital Markets Deal” for Star Energy Consortium’s acquisition financing.
“We are honored by the recognition of some of our biggest projects this year. These projects make an impact not only on our clients but on the environment and small and medium enterprises, which all redound to the country’s economic progress,” said Juan Carlos L. Syquia, BPI Capital President.
“These awards also reflect the strength of partnerships that we continue to cultivate, and our focus on delivering what is best for our clients and the public. We hope to have more of these deals that deliver the beneficial impact that we want for our various stakeholders,” he added.
AYC Finance Limited’s perpetual notes involved several pioneering features. The issuance was the first corporate “fixed for life” notes with no coupon/interest rate step up in Southeast Asia and the first “fixed for life” notes with no step up (and reset) deal in the Philippines. With this issuance, Ayala Corporation optimizes its average cost of funding while extending its debt maturity profile.
The Star Energy Consortium, consisting of AC Energy Holdings, Inc., the Star Energy Group and Electricity Generating Public Company Ltd., acquired the Salak and Darajat projects in West Java, Indonesia through a secured term loan facility. The acquisition marked one of the largest ever acquisitions in the geothermal energy space and one of the largest acquisitions in the region for 2017. BPI Capital and DBS Bank Ltd., as coordinating entities, were able to lead the transaction through a series of complex issues and were able to rapidly respond with well-crafted solutions customized to the evolving nature of the deal.
As for the ASA Philippines deal, it was the largest issuance by a single microfinance institution at PhP2 billion with strong participation from investors. The proceeds will benefit about 2 million women-led micro, small, and medium enterprises across the country.
The PhP181 billion 3-year retail treasury bonds was the 19th issuance of the Bureau of the Treasury of the Philippines and the 2nd under the Duterte administration. The goal was to reach a wider retail investor base and to promote financial inclusion and literacy.
The Asset Awards, Alpha Southeast Asia Awards, and IFR Asia Awards recognize corporate and individual excellence in Asia. The awards employ stringent criteria and adopt a rigorous approach in the selection of winners.
ABOUT BANK OF THE PHILIPPINE ISLANDS
The 166-year-old Bank of the Philippine Islands is the first bank in the Philippines and Southeast Asia. We are licensed as a universal bank by the Bangko Sentral ng Pilipinas to provide a diverse range of financial services: deposit taking and cash management, payments, lending and leasing, asset management, bancassurance, investment banking, securities brokerage, and foreign exchange and capital markets. BPI has significant financial strength, with robust Tier 1 capital adequacy ratios and profitability, underpinned by a stringent compliance and risk management regimes. BPI has investment-grade ratings of BBB- (Fitch), Baa2 (Moodys), and BBB (Capital Intelligence).