India Infoline News Service | Mumbai | April 04, 2016 17:39 IST
The award validates the strength of IDFC Bank’s Debt Capital Market (DCM) business in creating landmark transactions.
IDFC Bank, subsidiary of the country’s leading integrated infrastructure finance company, IDFC Ltd., has been named the ‘India Bond House’ for the year 2015, by International Financing Review Asia (IFR Asia).
The award validates the strength of IDFC Bank’s Debt Capital Market (DCM) business in creating landmark transactions. It also recognizes the bank for adding depth and breadth to Indian bond markets in 2015 by leading the key trend of bringing infrastructure companies to rupee capital markets to repay high-cost bank debt. “The lender arranged cost-effective financings for a range of infrastructure clients as it transformed from a non-banking financial company into a full-fledged universal bank,” IFR Asia said.
The India Bond House Award recognizes IDFC Bank’s successful execution during 2015 of numerous plain-vanilla bond deals and several innovative and landmark transactions, including IIFCL & ADB credit enhanced bonds, annuity-road project bonds, simultaneous super-senior, senior and mezzanine bond tranches for annuity-road project, corporate green bonds, and bonds with sponsor’s partial credit enhancement.
Besides these and prior to 2015, IDFC Bank has successfully structured many other unique bond transactions. Some of these include, like India’s only inflation-indexed bonds for a corporate, India’s first office collateralized-mortgage backed securities (CMBS), first-of-its-kind re-investment yield protected, conditionally callable bonds, largest future-flow securitisation in the energy sector, and many more. Recently, IDFC acted as arrangers to first ever bond issuance in transmission sector securitising asset cash-flows upto 17.5years.
Speaking on the award, Ajay Mahajan, Head - Commercial & Wholesale Banking, IDFC Bank, said, “The award makes note of IDFC Bank’s innovative approach and superior capabilities in structuring complex transactions. We would like to thank our clients for placing their trust in IDFC Bank. We also thank IFR Asia for giving us this recognition.”
Ajay Mahajan received the award with Jayen Shah, Head – Debt Capital Markets, IDFC Bank, from Steve Garton, Editor of IFR Asia, at a function held in Hong Kong recently. The IFR Asia Awards are part of the Thomson Reuters Awards for Excellence, recognising corporate and individual success in the global financial industry
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