Milbank Capital Markets Deals Honored with Seven "Deal of the Year" Awards

2018-01-30 05:29 1288

HONG KONG, Jan. 30, 2018 /PRNewswire/ -- Milbank's Hong Kong Capital Markets team closed out a stellar 2017 with four transactions on which it advised receiving seven 2017 "Deal of the Year" awards from leading legal and business publications in recognition of the complexity and importance of these transactions in their respective jurisdictions and markets.

In an impressive demonstration of the firm's breadth and depth pan-Asia, the deals took place in four different jurisdictions: India, Mongolia, the Philippines and Vietnam.

Hong Kong-based Capital Markets partner James Grandolfo, who led the Milbank teams on all four deals honored, commented: "It is incredibly gratifying to have our Capital Markets practice recognized along with our clients for bringing these exceptional transactions to fruition. The transactions were highly nuanced with each country presenting a unique set of challenges that our teams handled expertly. This recognition speaks to Milbank's continued ability to successfully and seamlessly execute the most complex transactions that often have enormous impact on the region's economic progress and development across multiple jurisdictions in Asia in both the debt and equity space."

Milbank's Hong Kong Capital Markets team advised its clients on raising over US$3.3 billion in deals in 2017.

"It was an honor to partner with our clients and assist them with achieving their financing goals.  We look forward to increased opportunities in 2018 to support our clients as growth in the Asia capital markets continues," added Mr. Grandolfo.

Milbank was recognized for the following "Deals of the Year":

India Business Journal's Deal of the Year: Milbank advised the underwriters on a $1.3 billion successful initial public offering of 120 million equity shares of SBI Life Insurance, a subsidiary of the country's largest lender, State Bank of India. The transaction marked India's first billion-dollar IPO since 2010, and first US$1 billion IPO in India in seven years.

Vietnam M&A Forum's IPO of the Year: Milbank advised placement agents BNP Paribas, Deutsche Bank, JP Morgan and Viet Capital in the IPO by Vietnam's leading budget airline, VietJet Aviation Joint Stock Company. The offering of almost US$200 million represented the largest IPO in Vietnam's history and the country's first internationally marketed IPO. VietJet is now listed on the Ho Chi Minh City Stock Exchange (HOSE).

FinanceAsia's Best Vietnam Deal: Milbank was also recognized by FinanceAsia for its involvement in the VietJet Air IPO.

FinanceAsia's Best Philippines Deal: Milbank represented BDO Capital, Credit Suisse, and UBS as joint global coordinators, together with Citigroup, Goldman Sachs and HSBC as joint bookrunners, on the $1.2 billion rights offer of common shares by BDO. The offer represents a key milestone not only for BDO but also for the Philippines as its largest ever equity capital raise, executed amidst challenging global market conditions.

FinanceAsia's Best Mongolia Deal: Milbank advised Credit Suisse and J.P. Morgan as dealer managers and initial purchasers in a US$600 million sovereign bond exchange offer and new issuance by the Government of Mongolia. This transaction was particularly noteworthy, as it was successfully completed amid highly challenging economic circumstances that placed Mongolia at risk of potential liquidity issues.

The Asset's Best Sovereign Bond: The Government of Mongolia exchange offer and US$600 million new bond (as described above) was also recognized by The Asset's Triple A & Benchmark Awards.

The Asset's Best Rights Issue: The BDO Unibank US$1.2 billion rights offering (as described above) was also recognized by The Asset's Triple A & Benchmark Awards.

In addition to the deal awards mentioned above, Milbank was also nominated by IFLR Asia for a number of capital markets and firm awards to be announced later in 2018, including:

  • Debt and Equity Linked Deal of the Year:
    • Ayala Corporation Fixed-for-Life notes
    • Government of Mongolia's Liability Management & Sovereign Bond
  • Equity Deal of the Year: 
    • VietJet IPO
    • Netlink NBN Trust IPO
  • Debt & Equity Linked Firm of the Year
  • US Law Firm of the Year

About Milbank

Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm that provides innovative legal services to clients around the world. Founded in New York 150 years ago, Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Seoul, Singapore, Tokyo and Washington, DC. Milbank's lawyers collaborate across practices and offices to help the world's leading commercial, financial and industrial enterprises, as well as institutions, individuals and governments, achieve their strategic objectives.  For more information please visit

From: Jocelyn De Carvalho, Public Relations Manager; 212-530-5509;

Source: Milbank
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