Philippines' best international bank 2022: Credit Suisse
Credit Suisse is making the most of its 30th year in the Philippines, despite the turbulent markets and volatile fundraising conditions.
The team led by Philippines’ country manager Mark Uy, along with Asia Pacific vice chairman Lito Camacho in Singapore, maintained its leading position in the international Philippine bond market in terms of both issuance volume and deal numbers.
Take the $400 million bond for AYC Finance, a subsidiary of conglomerate Ayala Corp. As joint lead manager and bookrunner, Credit Suisse achieved the lowest-ever coupon for the fixed-for-life perpetual offering. This outcome demonstrated the strength of the bank’s private banking distribution platform. Credit Suisse private banking clients placed some of the largest orders, receiving some of the largest allocations in the deal.
Efficiency mattered, given the uniquely choppy markets. Credit Suisse managed a two-day execution, allowing AYC to minimize market exposure while collecting sufficient feedback and market intelligence to know when to launch the transaction.
Credit Suisse has been among the most active ECM names in the Philippines, executing six out of nine internationally distributed Philippine IPOs and placements since 2020.