Deutsche Bank has won the coveted ‘RMB House of the Year’ and ‘Deal of the Year’ accolades at this year’s Asia Risk Awards. The awards recognise Deutsche Bank’s integral role in helping clients access China’s capital markets, our market leading Renminbi product offering and our success in promoting the Renminbi internationally.
Supporting German investment into Taiwan wind energy
Deutsche Bank’s landmark transaction in June to support the development of an offshore wind farm was the first of its kind in Taiwan and one of the largest ever Deal Contingent (DC), Interest Rate Swap (IRS) solutions offered by a bank globally.
We acted as underwriter, mandated lead arranger, book runner and sole hedge arranger for the financing of the wind farm developed by a German renewables developer with co-investment from an Asian consortium. Supporting German investment in Taiwan’s nascent renewable energy sector, the deal was praised by Asia Risk for its scale and complexity, particularly against a challenging backdrop of market volatility impacting the Taiwan Dollar.
“It was the largest swap trade of its kind in Asia; it was assembled, executed, hedged in a tight timeframe and in a market where liquidity is notoriously patchy,” Asia Risk said. Read more here.
Opening up China’s capital markets to the world
Winning RMB House of the Year follows a string of milestone achievements for Deutsche Bank where we have led the market in promoting RMB as an international product.
Asia Risk noted two initiatives that stood out when selecting Deutsche Bank for the top spot: our ‘hub-and-spoke’ model that that allows clients to access onshore CNY FX solutions through any branch worldwide, and our centralised hedging strategy. The bank’s position as one of the leading foreign banks by trading volume on China’s Bond connect was also highly commended.
“The bank’s prowess is visible across the spectrum including coming up with products quickly to tap market moves,” Asia Risk commented. Read more here.
Last week, Deutsche Bank became one of only two foreign banks operating in China to receive a Type-A Underwriting licence; the most comprehensive underwriting licence granted to a foreign bank in the China bond market that allows us to underwrite bonds issued by both local and foreign corporates for the first time.
“We are proud to be recognised for our market leadership in RMB and deep solutioning capabilities that continue to open up global and intra-Asia investment corridors. We are uniquely positioned to do this, and have the product breadth, onshore presence, innovative structuring capability, transaction and investment banking infrastructure and platforms that our clients truly value,” said David Lynne, Head of Fixed Income and Currencies and Corporate Bank for Asia Pacific.