Southeast Asia: Best Bank for Infrastructure/Project Finance in the Region 2019
When awards like these are being handed out, HSBC should, just by dint of its long history and presence in China and southeast Asia, be a perennial contender. Yet any lender, whatever its size and history, still has to do the legwork, a fact that the UK-based bank knows full well.
It is a worthy winner of this award, having been at front and centre of several BRI deals over the last 12 months. A standout example was a $69 million Sinosure-supported facility for Longi Green Energy Technology Company, a leading Chinese photovoltaics firm busy expanding its presence in the Malaysian state of Sarawak.
HSBC was mandated lead arranger, sole lender, agent and security agent on the deal.
It was also joint global coordinator on ICBC Singapore’s inaugural $2.2 billion green bond. The multi-currency print, finalized in April, raised $900 million, €500 million and Rmb1 billion ($140 million). The proceeds will be used to fund green BRI projects, particularly in renewable energy, wastewater management and low-emission transport.