Thailand's best international investment bank 2023: Bank of America
Bank of America
Among the international investment banks operating in Thailand, Bank of America attracts the nation’s top issuers for several reasons: it has been in the country for more than 70 years and boasts top-notch execution capabilities and a dominant presence across all asset classes.
Roughly 57% of BofA’s deal mandates during Asiamoney’s review period came from its existing Thai clients. Even more impressive, this is the work of three investment bankers in Bangkok, working with three others in Singapore for further support, and guided by Thailand country head Mook Pibuldham and Thailand investment banking head Thanawat Chantrapannik.
BofA’s client profile and deal size are both impressive. It was a buy-side financial adviser on Thai power generator BCPG’s roughly $115 million investment in a couple of energy projects in the country this year. It held a similar buy-side role on PTT Oil and Retail Business’s investment in unicorn Traveloka, worth $200 million.
Its sell-side advisory roles include Bank of Nova Scotia’s $134 million divestment from Thanachart Insurance and Thanachart Securities, and Indorama Ventures’ $1.3 billion acquisition of Brazil-based Oxiteno.
BofA’s equity capital markets deal roster is also noteworthy. The US bank was a global coordinator and an international bookrunner on the blockbuster Bt37.1