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Credit Suisse named Best Foreign Investment Bank in Philippines for the first time by The Asset
Johnny Escaler, Co-Head of Philippines Investment Banking, said: “We are extremely thrilled by today’s announcement – it is the first time we have won this award. This is an outstanding achievement and a reflection of the unique, integrated platform we have built for growth in Philippines. Our success has come from the great client relationships and the leading market products we have developed, that have enabled us to take the lead in some groundbreaking transactions.”
In the period under review, Credit Suisse executed a number of landmark transactions across mergers and acquisition and capital markets in Philippines. In M&A, it acted as the exclusive financial advisor on the US$1.7 billion sale by San Miguel Corp of its 27% stake in Meralco to JG Summit Holdings. The deal was the second largest Philippines M&A transaction at that time.
The bank also sole-led a number of capital markets transactions including International Container Terminal Services US$75 million bond offering, Philippines Airlines US$200 million senior secured loan, Universal Robina Corporation US$280 million secondary placement. It also acted as joint bookrunner on the US$259 million rights issue for the Philippine National Bank.
Chiqui Huang, Co-Head of Philippines Investment Banking, said "In this highly contested award category, Credit Suisse has been able to break through into the top ranks for the first time, reflecting our determination to remain a leading investment bank in the Philippines. This award is a culmination of the efforts we have made building our business and ensuring that we meet our clients' objectives.”
Credit Suisse’s franchise in the Philippines is an important part of the bank’s presence in South East Asia which itself is a critical component of the bank’s Asia Pacific strategy. Other house awards Credit Suisse has won across Asia Pacific in The Asset’s Triple A Country Awards 2014 include Best Foreign Investment Bank and Best M&A House in Malaysia, Best Equity House in Indonesia, first time winner of Best Foreign Investment Bank in Pakistan, Best Foreign Investment Bank and Best M&A House in Singapore, Best Foreign Investment Bank in Vietnam and Best M&A House and Best Brokerage House in Korea.
In the Philippines, Credit Suisse has been a leading financial advisor to the government and major corporates since 1992, providing financing and advisory services spanning capital raising, liability management, M&A transactions as well as structured finance. It converted its representative office operations to a full branch in 2004 to better handle the increasing volume of high profile advisory
engagements and international bond deals. In 2011, the bank further expanded its footprint by establishing an onshore brokerage in Manila covering equity research, sales, sales trading and execution, to complement its investment banking business and provide an expanded range of products and services to its clients.