New Silk Road Finance Awards 2017 South Asia: Best bank for BRI-related finance
This award recognises the financial institution that has done most to bring BRI-related deals to the capital markets. There’s only one viable winner: Pakistan’s MCB Bank.
The deal list starts with MCB’s role as sole bookrunner in the sale, completed in June this year, of a 40% stake in Pakistan Stock Exchange to a consortium consisting of three Chinese bourses – China Financial Futures Exchange and the Shanghai and Shenzhen stock exchanges – as well as Habib Bank and Pak China Investment (PCI).
The deal allows Chinese companies, assets and subsidiaries to list shares in one of south Asia’s best-performing markets.
MCB is working on a host of other BRI-related capital-markets deals.
|MCB Tower, Karachi|
It ran the books on a syndicated finance facility that funded a $121 million, four-lane expressway in the north of the country; a $21 million syndicated facility to build a biofuel-based power generation plant part-funded by PCI; and a PRs13 billion ($125 million) syndicated Islamic finance facility to pay for a new cement plant, built by Cherat Cement in the far north of the country.