Deal and Solution Awards
(Excellence from mandate to pricing)
We are pleased to invite Southeast Asia’s leading local and foreign banks, brokers and FIs to submit their credentials for evaluation for this year’s awards for excellence in Southeast Asia finance.
We have this year, introduced a few brand-new award categories this year to broaden the breadth and depth of our awards. The award is open to Asia-domiciled banks with branches and subsidiaries in Indonesia, Malaysia, Philippines, Singapore, Thailand & Vietnam.
Key Requirements:
1. Please provide a scanned copy of the prospectus that shows clearly, which other banks were involved and what the exact roles were in the given transaction. (e.g., lead manager, co-manager, bookrunner, etc.,).
2. Please clearly specify if any of the transaction(s) submitted are in-house led deals i.e., transaction undertaken by the bank for an associate company, subsidiary, or any company with the same ultimate shareholder.
IMPORTANT POINTS:
- All awards pitches must include the name of the person most involved (e.g., CFO) from the issuing institution along with their contact email/details.
- Please DO NOT SUBMIT any deals completed prior to 1st December 2024.
- While most deals are likely to be denominated in your local currency or another foreign currency, it is best to submit the equivalent amount in USD for referencing purpose (based on the FX rate at the time of the transaction). If you plan to submit a deal undertaken denominated in RMB, YEN, etc., please specify currency exchange rate to USD accordingly.
- There is no limit as to how many categories a given bank can pitch for, but kindly submit a maximum of 3 key deal/transactions you have completed YTD – per award category.
- We accept transactions from across Asia, and not only deals in your home country.
- Please submit your pitches preferably in PDF format.
- Please provide (contact person + email address) for follow up questions.
- The pitch accounts for 90% weightage while submitting on time accounts for 10%. Late submissions beyond 6pm, 5 December 2025 will have points deducted from the final review.
| BEST DEAL OF THE YEAR |
| MOST INNOVATIVE DEAL OF THE YEAR |
| BEST SUBORDINATED PERPETUAL BOND |
| BEST SOVEREIGN BOND DEAL OF THE YEAR |
| BEST LOCAL CURRENCY SOVEREIGN BOND DEAL OF THE YEAR |
| BEST FOREIGN CURRENCY SOVEREIGN BOND DEAL OF THE YEAR |
| BEST HIGH YIELD BOND |
| BEST PERPETUAL BOND |
| BEST HYBRID BOND |
| BEST LOCAL CURRENCY BOND DEAL OF THE YEAR |
| BEST FOREIGN CURRENCY BOND DEAL OF THE YEAR |
| BEST ONLINE BOND OFFERING |
| BEST RETAIL DOLLAR BOND |
| BEST BOCKCHAIN-BASED BOND DEAL OF THE YEAR |
- This maybe a local, cross-border or supranational bond for a bank, quasi-sovereign agency and/or local corporate – denominated in a local ASEAN currency or foreign currency;
- Whether this is an investment grade and non-investment grade and high yield issuances, rated by local rating agencies;
- How the deal is unique; What is the strength of the credit story;
- What was the orderbook like; How the deal was priced; & How investors reacted to it;
- Whether the deal was set at the top end of the range;
- Whether it has achieved a tight yield at the time of pricing;
- Whether the deal has redefined the covering yield curve;
- Whether the deal was priced significantly inside any previous deals of such size and maturity;
- Whether the coupon rate is the lowest of its kind;
- Whether the geographic allocation was diversified;
- Retail participation/subscription (if any) versus institutional participation/subscription; &
- What was the after-market bond trading performance on and between – the date of issue; and on 1 December 2025 (Monday);
- Retail participation/subscription (if any) versus institutional participation/subscription; &
- What are your local currency DCM execution capabilities, etc.,
- How this deal has helped the local capital markets – you operate in grow, during the awards period.
| BEST ESG GREEN FINANCING IN SOUTHEAST ASIA |
| BEST SDG BOND |
| BEST SUSTAINABILITY-LINKED TRANSACTION |
| BEST SUSTAINABILITY-LINKED DIGITAL BOND |
| BEST SRI SUKUK; ASEAN GREEN SRI SUKUK |
| BEST ISLAMIC FINANCE/ESG-LINKED FINANCING |
| BEST ISLAMIC FINANCE DEAL OF THE YEAR |
| MOST INNOVATIVE ISLAMIC FINANCE DEAL OF THE YEAR |
| BEST DIGITAL SUKUK |
| BEST LOCAL CURRENCY SUKUK |
| BEST UNRATED SUKUK |
| BEST CORPORATE SUKUK |
| BEST SOVEREIGN SUKUK/BEST GREEN SUKUK |
| BEST EXCHANGEABLE SUKUK |
- How the deal was priced; how investors reacted to it; & whether the deal was set at the top end of the range;
- Retail participation versus institutional participation;
- Whether the geographic allocation was diversified;
- Whether this has spearheaded the introduction of a brand-new asset class;
- In the case of online bond offering and blockchain based bond deal, please detail the entire automation process of the offering.
- For an ESG-linked deal, if it involves a unique pricing mechanism, what are the sustainability performance targets (SPTs)
- Whether this transaction has the potential of becoming a benchmark transaction; and whether this deal has broadened and deepened the local capital markets and/or the local or regional Islamic capital markets; and whether this transaction has set out an alternative route for investors to channel their investments into the country.
- How has the financing positively contributed to ESG initiatives, renewable energy, water and green transportation;
- What has the bank done to increase transparency on the use of such proceeds and on the environmental impact of projects; &
- Whether a multilateral agency was involved.
- Please detail how this bond will finance climate-related projects and contribute to sustainable development.
Note: We may consider splitting this award into product-specific categories such as Best Sukuk Deal; Best Murabaha Deal, Best Ijarah Deal, Best Mudarabah Deal, Best Musharakah Deal, Best Tawarruq Deal, Best Wakalah Deal & Best Takaful Solution & Most Innovative Sukuk; Most Innovative Murabaha Deal, Most Innovative Ijarah Deal, Most Innovative Mudarabah Deal, Most Innovative Musharakah Deal, Most Innovative Tawarruq Deal, Most Innovative Wakalah Deal & Most Innovative Takaful Solution – of the Year.
| BEST DISTRESSED DEBT DEAL OF THE YEAR |
| BEST DEBT RESTRUCTURING DEAL OF THE YEAR |
| BEST SUKUK RESTRUCTURING DEAL OF THE YEAR |
- Companies with sizable liabilities that has either been repaid in full or restructured innovatively with the help of other financial instruments;
- The financial returns the creditor is set to receive as part of this credit restructuring and whether the financial performance of the debtor company has improved during the awards period;
| BEST EQUITY/IPO DEAL OF THE YEAR IN INDONESIA |
| BEST EQUITY/IPO DEAL OF THE YEAR IN MALAYSIA |
| BEST EQUITY/IPO DEAL OF THE YEAR IN THE PHILIPPINES |
| BEST EQUITY/IPO DEAL OF THE YEAR IN SINGAPORE |
| BEST EQUITY/IPO DEAL OF THE YEAR IN THAILAND |
| BEST EQUITY/IPO DEAL OF THE YEAR IN VIETNAM |
| BEST EQUITY/IPO DEAL OF THE YEAR IN SOUTHEASTASIA |
| BEST EQUITY DEAL OF THE YEAR |
| BEST EQUITY-LINKED DEAL OF THE YEAR |
| BEST CONVERTIBLE SECURITIES DEAL OF THE YEAR |
| BEST SMALL-CAP EQUITY DEAL OF THE YEAR |
| BEST MID-CAP EQUITY DEAL OF THE YEAR |
- This is a purely primary market award and focuses purely on IPOs;
- Whether the price was priced at a tight discount;
- What its trading performance pre- and post- the offering has been;
- Whether it was priced at the high end of the offered range;
- Retail participation versus institutional participation levels;
- The share price at debut; end of the debut day; & post-deal price performance i.e., the share price on the 1 December 2025 (Monday);
- For Mid Cap, the market cap deal size for mid-cap should range between <US$100-300M>;
- For Small Cap, the market cap deal size for small-cap equity deals should range between <US$50-100M>;
| BEST SECONDARY DEAL OF THE YEAR |
- This is a secondary market award and includes secondary offerings, treasury shares, block trades and convertible securities, etc.,,
- Whether this was an overnight placement of existing shares or a secondary public offering of newly issued shares;
- Whether the price was priced at a tight discount;
- What its trading performance pre- and post- the offering has been;
- Whether it was priced at the high end of the offered range;
- The share price on 1 December 2025 (Monday); & whether the stock closed above the placement price;
- Challenges and the uniqueness of the deal (if any).
- Your distribution platform – supported by a strong secondary equities platform (including sales, trading and research).
- Post-deal price performance and level of innovation will also be considered when giving this award; &
| BEST SMALL-CAP EQUITY DEAL OF THE YEAR or BEST MID-CAPEQUITY DEAL OF THE YEAR |
- Credit will be given depending on the number of deals executed plus the aftermarket performance since the listing of a given deal;
- For Mid Cap, the market cap deal size for mid-cap should range between <US$100-300M>;
- For Small Cap, the market cap deal size for small-cap equity deals should range between <US$50-100M>;
- What was the investor demand and investor participation like;
- How has the stock performed since its listing up till and as of 1 December 2025 (Monday);
- Retail participation/subscription (if any) versus institutional participation/subscription; &
- Equally as important is the fact that houses bring good quality companies to market, in the sense of post-listing market performance.
| BEST REIT DEAL OF THE YEAR or BEST ISLAMIC REIT DEAL OF THE YEAR |
- Potential for capital growth;
- How the deal was priced; & How investors reacted to it;
- Whether pricing materialized at the top end of the range;
- What the premium to NAV was; & the potential dividend yield;
- The performance of the deal in the secondary market since;
- Its’ rating premised on the quality of its assets and cash flows;
- Retail participation versus institutional participation; &
- The share price on the 1 December 2025 (Monday); and since the deal was initially announced would also count as a factor.
| BEST SYNDICATED LOAN DEAL OF THE YEAR |
| BEST BILATERAL LOAN DEAL OF THE YEAR |
| BEST MULTI LATERAL LOAN DEAL OF THE YEAR |
| BEST PROJECT FINANCE DEAL OF THE YEAR |
| BEST PPP & BLENDED FINANCING INFRASTRUCTURE DEAL |
- The significance & uniqueness of the loan deal (regardless of its size);
- Whether this is a repeat business (not compulsory);
- Whether the greenshoe option was exercised; & leverage was maximized;
- Whether the deal (vanilla or structured) was heavily oversubscribed;
- What the net debt to EBITDA ratio was;
- Whether the structure has laid the groundwork for future deals like this;
- The overall loan volume handled during the awards period; &
- How active the bank is on the flow side as well as when it comes to structured transactions and plain vanilla deals.
- A very brief background about the project sponsors;
- The overall project size; important milestones (if any);
- Whether it was quite simply a refinancing;
- Composition of the loan (debt, leasing, shareholder loans, equity, internal cash flows, etc.,);
- Whether there was any use of mezzanine or sub-debt and/or equity structures;
- The involvement of interest rate, foreign exchange or commodity hedging (if any); & Whether the deal presented any intricate sets of challenges and risks and/or involved any complex limited recourse-financing package.
| BEST DOMESTIC M&A DEAL OF THE YEAR |
| BEST CROSS BORDER M&A DEAL OF THE YEAR |
| BEST REVERSE TAKEOVER M&A DEAL OF THE YEAR |
| BEST PRIVATE EQUITY BACKED M&A |
| BEST LEVERAGED FINANCE BACKED M&A DEAL |
- A DOMESTIC M&A deal that involves at least two companies from the same country – from the following countries, i.e.: Indonesia, Malaysia, Philippines, Singapore, Thailand & Vietnam;
- A CROSS BORDER M&A deal that involves at least one of the following countries, that is: Indonesia, Malaysia, Philippines, Singapore, Thailand & Vietnam;
- Major credit will be given to those houses which have initiated the key transactions, or which have organized highly professional defenses. Conversely, failed transactions will be judged negatively. The ability to show a breadth of transactions across sectors within the country will count favorably;
- Demonstrative evidence that proves the long-term benefits for the client – initiating the merger, will go a long way as well (e.g., capital gains, recurrent income enhancement, risk diversification, etc.,);
- The share price on the 1 December 2025 (Monday); and since the deal was initially announced will also count as a factor; &
- Pitches should specify clearly the announced date of transactions and the close date as well. Finally, only closed/completed transactions (and not announced transactions) will be given full credit.
- In the case of the Best REVERSE TAKEOVER/M&A deal, a key factor is for the said M&A deal that involves at least 1 entity from the following countries i.e., Indonesia, Malaysia, Philippines, Singapore, Thailand & Vietnam;
- In the case of PRIVATE EQUITY and/or LEVERAGED FINANCE, how was the private equity funding structure or leveraged finance structure was developed and proposed to the client;
- The ability to show a breadth of transactions across sectors within the country will count favourably;
Note: Depending on the diversity of the deals, we may have industry specific award categories for Mining, Healthcare, Financial Services, Energy, Real Estate, Infrastructure & Consumer Goods
The process for the Marquee awards is different, as it also involves surveying issuers and investors in the region. With certain award categories, our internal third-party survey is already under way.
HOW TO WIN:
To begin with, firms are required to submit a written pitch. This material should be considered public. It lays out the case for why your organization deserves the award. All submissions must be in Word document format. No supplemental material will be accepted except for client testimonials (corporates or investors). These will be treated with strict confidence and will be considered as off the record, but we do need to know the name of the client. Submissions (not including testimonials) are limited to 1,000 words.
If it exceeds 1,000 words, we will delete anything following the thousandth word. You should not feel the need to fill it out to the maximum word count; clarity of argument is more important than length.
We welcome information regarding growth in your business in terms of:
- clientele,
- client segments, and addressable assets;
- product innovation;
- infrastructure improvements;
- credit ratings;
- market leadership; &
- investment into your business.
We will consider activities from Q4 2024 (i.e., 1st Sept 2024) to the present (i.e., 2 December 2025).
Mere size isn’t enough: we want to know what you have done for your clients and for the market in 2024-2025 that makes this your standout year. In some cases, an interview (in person or telephone) may be required. These interviews are however off the record and are meant to put your formal pitch in context.
The award categories are:
| BEST M&A HOUSE IN SOUTHEAST ASIA 2025 |
| BEST RINGGIT SUKUK HOUSE IN MALAYSIA 2025 |
| BEST IPO FOR RETAIL INVESTORS IN SOUTHEAST ASIA 2025 |
| BEST BOND DEAL FOR RETAIL INVESTORS IN SOUTHEAST ASIA 2025 |
| BEST DEAL OF THE YEAR FOR MINORITY SHAREHOLDERS IN SOUTHEAST ASIA (covering ECM, DCM and M&A) – 2025 |
| BEST BOND HOUSE IN SOUTHEAST ASIA 2025 |
| BEST EQUITY HOUSE IN SOUTHEAST ASIA 2025 |
| MOST IMPROVED BOND HOUSE 2025 |
| BEST SOCIAL IMPACT ISLAMIC FINANCE HOUSE 2025 |
| BEST CAPITAL MARKETS LAW FIRM 2025 |
| BEST TAKAFUL HOUSE IN MALAYSIA 2025 |
| BEST SUSTAINABLE FINANCE HOUSE 2025 |
| BEST BANK FOR SUSTAINABILITY-LINKED LOANS 2025 |
| BEST ESG BORROWER IN SOUTHEAST ASIA 2025 |
| BEST BORROWER IN SOUTHEAST ASIA 2025 |
| BEST STOCK EXCHANGE IN SOUTHEAST ASIA 2025 |
| BEST CENTRAL SECURITIES DEPOSITORY IN SOUTHEAST ASIA 2025 |
| BEST REMITTANCES PROVIDER IN SOUTHEAST ASIA 2025 |
| BEST BLOCKCHAIN-BACKED CAPITAL MARKETS PLATFORM 2025 |
| BEST DIGITAL SECURITIES EXCHANGE 2025 |
| BEST CORPORATE LOANS PLATFORM 2025 |
| BEST FX SETTLEMENT, PROCESSING AND DATA PLATFORM 2025 |
| BEST ONLINE FINANCIAL SUPPLY CHAIN PLATFORM 2025 |
| BEST PROCURE-TO-PAY TRADE FINANCE PLATFORM 2025 |
| BEST DIGITALISATION OF BUNKER TRADE ECOSYSTEM 2025 |
| BEST ESG-LINKED CROSS CURRENCY INTEREST RATE SWAP 2025 |
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