Finance Asia Names Morgan Stanley Best International Investment Bank

In its review of 1998, Finance Asia named Morgan Stanley the Best International Investment Bank, citing the Firm for "pulling off a number of landmark transactions under adverse market conditions." The magazine recognized the following deals on Morgan Stanley's "solid roster of transactions."

  

In its review of 1998, Finance Asia named Morgan Stanley the Best International Investment Bank, citing the Firm for "pulling off a number of landmark transactions under adverse market conditions." The magazine recognized the following deals on Morgan Stanley's "solid roster of transactions":

  • $1 billion share offering for Bangkok Bank, the "largest-ever equity offering for a Thai company"
  • $1 billion zero-coupon offering for Temasek exchangeable into shares of Singapore Telecom (also IFR's Asian Equity-Linked Deal of the Year)
  • $500 million bond offering for the Republic of the Philippines, "successfully reopening the bond markets for Asian sovereign issuers"
  • $250 million convertible bond offering for New World Infrastructure, "one of the first overnight convertibles in Asia in 1998"
  • $150 million convertible bond offering for Shanghai Industrial
  • $1 billion acquisition by DBS Bank of POSBank, "one of the most significant M&A transactions out of Southeast Asia this year"
Finance Asia argues that this "deal line-up illustrates the breadth and depth of the firm's capabilities and its interest in focusing on innovation and not just the big deals... With this commitment to the region and a strong presence in the secondary market, Morgan Stanley [Dean Witter] has the platform from which to clean up again in 1999."

An interview with Mario Francescotti completed the piece on Morgan Stanley. Francescotti confirmed Morgan Stanley's commitment to the region as important to the Firm's success in Asia, noting that, "It is not easy to differentiate yourself in a bull market, but we have shown that, in a bear market, we stand out because of our level of commitment. Our strategy is to be involved in a broad spectrum of businesses from debt, equity and foreign exchange to commodities, asset management and private client services."