Credit Suisse
In Jakarta, bankers can be certain of three things: 1) long delays thanks to chronic traffic gridlock known as macet; 2) their meetings with state officials are cancelled or postponed several times and at a moment’s notice or none at all; and 3) when there’s a big deal brewing, Credit Suisse won’t be far away from it.
Or, more likely, running it. For yet another year, Credit Suisse has dominated all investment banking categories in Indonesia. In M&A, the bank was sole financial adviser to Singapore’s Fullerton Financial Holdings on the sale of its 74% stake in Bank Danamon to Japan’s MUFG for $5.9 billion, in what was southeast Asia’s largest banking sector deal. In April, Credit Suisse was joint coordinator and bookrunner in the $143 million IPO of hospital operator Medikaloka Hermina, despite a soft equity market. In terms of debt offerings, the bank was joint global coordinator for a $500 million international bond for resources house PT Medco Energi Internasional in January.
All-told, the Credit Suisse team generated $20 million in fee income for the year, according to Dealogic, to top the table for share of wallet in Indonesia, with daylight between CS and Citi in second place.