world travel awards asia and oceania 2023

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Asia and Oceania’s top travel brands revealed at World Travel Awards 2023

The red carpet ceremony in Ho Chi Minh City celebrates the travel industry’s elite, highlighting destinations, airlines, and hospitality leaders in Asia and Oceania.

The finest travel brands from across Asia and Oceania have been unveiled at a red carpet Gala Ceremony in Ho Chi Minh City, Vietnam . The industry elite travelled from across the region to the fascinating metropolis for the World Travel Awards (WTA) Asia & Oceania Gala Ceremony 2023 to find out who amongst them had been crowned best of the best.

The red carpet evening at the GEM Center marked the second leg of WTA’s landmark 30th anniversary Grand Tour 2023 – a global search for the finest travel and tourism organisations.

Vietnam’s breadth of natural wonders and its world-class hospitality helped the nation win the vote for ‘Asia’s Leading Destination’. The Ha Giang province was named ‘Asia’s Leading Emerging Tourism Destination’. Capital Hanoi claimed the new category for ‘Asia’s Leading City Destination’ and Ho Chi Minh City won ‘Asia’s Leading Business Travel Destination’. The Philippines was acknowledged as ‘Asia’s Leading Dive Destination’. Indonesia collected ‘Asia’s Leading Beach Destination’.

Australia cemented its reputation as the land with it all to secure ‘Oceania’s Leading Destination’, whilst Melbourne won ‘Oceania’s Leading City Destination’. Fiji Tourism lifted the trophy for ‘Oceania’s Leading Tourist Board’.

Graham Cooke , Founder, World Travel Awards, says: “ It has been a privilege to continue our 30th anniversary celebrations in Ho Chi Minh City, which has hosted a magnificent ceremony featuring the leading lights of travel from Asia and Oceania. Our winners are stellar examples of tourism excellence, and I congratulate each and everyone for helping to raise the collective benchmark”.

Hospitality winners included Shilla Monogram Quangnam Danang , named ‘Asia’s Leading Lifestyle Resort’. The timelessly elegant Raffles Singapore claimed the ultimate hospitality award for ‘Asia’s Leading Hotel’, the beguiling blend of French Indochine haute couture led Hotel de la Coupole MGallery to be voted ‘Asia’s Leading Design Hotel’. SOJO Hotel won ‘Asia’s Leading Lifestyle Hotel Brand’, and ‘Asia’s Leading Sustainable Resort’ went to China’s Spring City Golf & Lake Resort.

In Oceania, The George Christchurch took ‘Oceania’s Leading Luxury Hotel Villa’ and Millbrook Resort, New Zealand was hailed ‘Oceania’s Leading Hotel’.

In the newcomer categories, Singapore’s Pacific Orchard picked up ‘Asia’s Leading New Hotel’; Ana Mandara Cam Ranh was named ‘Asia’s Leading New Resort’; and The Langham, Gold Coast collected ‘Oceania’s Leading New Hotel’.

In the aviation sector, Singapore Airlines was named ‘Asia’s Leading Airline’ whilst Vietnam Airlines earned the accolade for ‘Asia’s Leading Airline – Economy Class’. AirAsia collected ‘Asia’s Leading Low-Cost Airline’ and ‘Asia’s Leading Low-Cost Airline Cabin Crew’. Vietjetair.com took the new category for ‘Asia’s Leading Airline – Customer Experience’. Hong Kong International Airport was hailed ‘Asia’s Leading Airport’. Oceania winners included Air New Zealand (‘Oceania’s Leading Airline’) and Melbourne Airport (‘Oceania’s Leading Airport’).

Travel provider winners included Vietravel (‘Asia’s Leading Tour Operator’), Abercrombie & Kent (‘Oceania’s Leading Tour Operator’) and Sun Group (‘Asia’s Leading Integrated Tourism Group’).

George Diamantopoulos

George, in his capacity as an intern, diligently oversees the flow of news, assists in the publication of content, and delves into the strategies of social media distribution. He is currently pursuing his studies in Business Administration at the Athens University of Economics and Business.

• George Diamantopoulos https://www.traveldailynews.asia/author/george-diamantopoulos/ Adelaide's Hotel sector sees surge from major events, more growth anticipated
• George Diamantopoulos https://www.traveldailynews.asia/author/george-diamantopoulos/ Laguna Phuket Marathon 2024 to draw over 10,000 runners from 40 countries
• George Diamantopoulos https://www.traveldailynews.asia/author/george-diamantopoulos/ Cathay's "1 Ticket, 1 Tree" initiative plants 30,000 mangroves in Southeast Asia
• George Diamantopoulos https://www.traveldailynews.asia/author/george-diamantopoulos/ Centara opens first COSI Hotel in Vientiane, Laos

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Home » News » Every winner you need to know about from the World Travel Awards Asia & Oceania Gala Ceremony 2023

Every winner you need to know about from the World Travel Awards Asia & Oceania Gala Ceremony 2023

It’s a long list! So, we’ve cut the list of winners of the World Travel Awards Asia & Oceania Gala Ceremony 2023 down to those who we think you’ll be most interested in.

Leading Adventure Tourism Destination: Japan Leading Airline:  Singapore Airlines Leading Airline Lounge – First Class: Cathay Pacific ‘The Wing, First’ @ Hong Kong International Airport Leading Airport: Hong Kong International Airport, China Leading Business Hotel Brand: InterContinental Hotels & Resorts

Leading Cruise Line: Silversea Leading Hotel: Raffles Singapore Leading Low-Cost Airline: AirAsia Leading Meetings & Conference Destination: Kuala Lumpur, Malaysia Leading New Hotel: Pan Pacific Orchard, Singapore Leading Travel Management Company: FCM Travel

The full list can be found here .

Email the Travel Weekly team at [email protected]

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Philippines wins “Asia’s Leading Dive Destination” at prestigious World Travel Awards 2023

MEDIA RELEASE   07 September 2023         

CONTACT : CZARINA ZARA-LOYOLA Director, Office of Public Affairs and Advocacy [email protected]

Ho Chi Minh City, Vietnam —Solidifying its status as the ultimate diving destination in the region, the Philippines has clinched for the fifth consecutive year the Asia’s Leading Dive Destination title at the preeminent World Travel Awards (WTA) Asia & Oceania Gala Ceremony 2023. 

Philippine Department of Tourism (DOT) Secretary Christina Garcia Frasco announced the remarkable feat on Wednesday (Sept. 6), following the WTA Asia & Oceania Gala Ceremony 2023 that took place at the GEM Center in Ho Chi Minh City, Vietnam. 

“The Philippines’ fifth consecutive win as Asia’s Leading Dive Destination further affirms the unparalleled beauty and megabiodiversity of our country loved by divers and tourists all over the world,” enthused Secretary Frasco, who is a dive advocate and certified diver herself. 

The tourism chief added that “this is a testament to the Philippines’ commitment to sustainable tourism development and our strengthened collaboration with tourism stakeholders. From our ridges to our reefs, you will never run out of reasons to Love the Philippines!”  

Elevating the Dive tourism portfolio 

Under President Ferdinand R. Marcos, Jr.’s administration, Secretary Frasco, who is a certified diver, has been leading the DOT in elevating the country’s dive tourism industry.  

The DOT created the first-ever Dive Committee that will align its dive product development and promotion thrusts with its attached agencies, the Tourism Infrastructure and Enterprise Zone Authority (TIEZA), the Tourism Promotions Board (TPB) Philippines, and the Philippine Commission for Sports Scuba Diving (PCSSD). 

The DOT will likewise convene the country’s national dive stakeholders in the first-ever Philippine Dive Dialogue in Cebu next week to consolidate all the efforts of the national government, local governments, and private sector partners. 

Moreover, the DOT, through its infrastructure arm, TIEZA, eyes the installation of additional hyperbaric chambers that will improve scuba diving safety standards in strategic dive locations, such as Dumaguete and Daanbantayan in Cebu, by 2024. 

The agency has also launched its own dive expo brand, the Philippine International Dive Expo (PHIDEX), the world’s only dive show that combines a dive travel exchange, a business-to-business (B2B) meeting program, dive conferences and seminars, exhibition booths, and familiarization tours to key and emerging Philippine dive destinations. The fourth edition of PHIDEX is scheduled for February next year. 

The Department continuously hosts regional dive-centric events, including the DOT Office of Product and Market Development – Dive Team’s Anilao Underwater Shootout in Batangas, the DIVE7 Festival series by the DOT Region VII office, the Davao Dive Expo by the DOT Region XI office, and the NorthMin Dive by the DOT Region X office —which opened yesterday (Sept. 6)—among others. The Department also extended its support to a multitude of diving initiatives, assessments, and expeditions, including the Cebu Travel Catalogue, the Bohol Loop Dive Expo (BHOLDEX), the 3rd MisOr Dive Festival, Samal Island Dive Seafari, Bay Deep Mati Freediving Festival, and numerous others. 

2023 World Travel Awards 

DOT Undersecretary Shahlimar Hofer Tamano personally received the WTA Asia’s Leading Dive Destination 2023 trophy, which was awarded based on public votes and validation from the group’s panel of travel professionals. Philippine private tourism stakeholders also bagged notable victories at the WTA Asia & Oceania Gala Ceremony 2023, being named in the following Asian and country categories: Okada Manila (Asia’s Leading Casino Resort), Discovery Shores Boracay (Philippines’ Leading Beach Resort 2023), Travelite Travel and Tours Co. (Philippines’ Leading Destination Management Company 2023), and Seda Hotels (Philippines’ Leading Hotel Group 2023), among others. 

Regional edition awardees, along with runners-up and previous year’s winners, are qualified for the WTA’s World edition, which will have its grand awards night in Muscat, Oman in November 2023.  

Established in 1993, the WTA is now globally recognized as the “ultimate hallmark of excellence” in the tourism and hospitality industries. The WTA encompasses country awards, regional awards, and world awards.

Published:September 7, 2023

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Tour Guides to get more livelihood with Digital Bookings

DOT commits full support on Laguna’s local tourism resurgence; vows for more tourism projects in the province

TWG convened to drive up CRK utilization; travel and tourism to remain ‘spark of hope’ for Clark – Secretary Frasco

Philippines wins Emerging Muslim-friendly Destination of the Year Award (Non-OIC)

Dot supports malacañang heritage tours.

The country’s colorful marine life takes the spotlight in DOT’s Anilao Underwater Shootout

DOT, DND, DILG forge pact to make Mindanao a peaceful and viable tourist destination

DOT, PRA ink partnership

DOT lauds Rosquillos Festival’s showcase of local culture, contribution to local tourism

PHL participation in int’l, local travel and trade fairs yields more than P3 billion in business leads—DOT Chief

More than 43k workers receive dot training on the filipino brand of service excellence (fbse).

DOT vows support to SOCCSKSARGEN, Mindanao

Pbbm approval of phl tourism plan to spur tourism transformation, employment, philippines’ int’l visitor arrivals breach 2m.

DOT lauds PATA’s initiative to rebuild tourism communities in Laguna, Pagsanjan Falls

Filipino tourism frontliners recognized during DOT’s 50th founding anniversary celebration

DOT supports new country brand under the Marcos administration

DOT welcomes the resumption of chartered flights to PHL top destination Boracay

Medical Tourism pushed by Marcos Administration with strategic global partnership – DOT Chief

Frasco meets US filmmakers, media execs to promote Philippine tourism

Record number 1,400 Koreans arrive to Filipino welcome led by Tourism Secretary Frasco

Tourism chief Frasco dives in Puerto Galera, provides alternative livelihood to Oriental Mindoro

Philippine-Turkiye air service deal to boost tourism- DOT Chief

DOT-DOLE Tourism Job Fairs offer more than 8K jobs; 3rd leg set in May

DOT, DOTr jointly conduct inspection at NAIA T2 ahead of Holy Week break

More than 6k jobs up for grabs at DOT’s PHL tourism job fair

Go Negosyo, DOT mount Tourism Summit in Cebu

Business as usual in Puerto Galera; DOT to train tourism workers affected by oil spill for alternative livelihood – Frasco

DOT holds Philippine visa reforms convergence

Philippines hits 260M negotiated sales, bags recognition at the ITB Berlin 2023

DOT chief unveils National Tourism Development Plan (NTDP) 2023-2028 at stakeholders’ summit

Frasco meets with Central Europe tourism players, vows prioritization of tourism under Marcos Administration

Philippines comes back with biggest delegation to ITB Berlin, bags sustainable tourism recognitions

Oil Spill affecting tourist sites – DOT Chief

DOT issues guidelines pushing for more openness for tourism enterprises

Tourism chief to lead biggest PHL delegation to ITB Berlin 2023

PHL feted Best Dive Destination anew

New Flights from Clark to boost tourism, decongest NAIA

Frasco lauds Ilocos Norte’s Tan-Ok festival as manifestation of the Philippine Experience’

Frasco: Panagbenga Festival touts Baguio’s tourism resurgence

DOT extends ‘free accreditation’ for tourism establishments

DOT Chief launches Tourism Champions Challenge’ to spur tourism development in LGUs

PHL secures back-to-back nominations at the 2023 World Travel Awards

Frasco convenes first TCC meeting, forecasts full domestic recovery in 2023

Frasco leads groundbreaking of new tourist pit stop to boost Palawan tourism

Frasco leads grand welcome reception for cruise passengers, says ‘PHL aims to be cruise hub in Asia’

Japanese stakeholders bullish of PHL tourism prospects

PBBM, Tourism chief engage Japanese tourism stakeholders in high-level meet in Tokyo

Tourism chief affirms DOT’s support to PH Dev’t Plan 2023-2028

Chinese tourists receive warm welcome from PHL; DOT foresees swifter tourism recovery with Chinese outbound group tour

PHL, CHINA ink tourism implementation deal

PHL breaches 2.6M arrivals for 2022; DOT chief bullish of 2023 projections

DOT lands on Top 3 Highest Approval Rating among Government Agencies; bares targets for 2023

DOT, DICT ink deal for improvement of connectivity in tourist destinations, digitalization of services

DOT, DMW launch newest incentivized tourism promotions campaign

DOT, TIEZA launch 7th Tourist Rest Area in Pagudpud’s Saud Beach

Tourist Rest Area to rise in Bohol

Luzon’s First DOT Tourist Rest Area to Rise In Baguio City

DOT strengthens PHL-Saudi Arabia tourism relations, engages industry key players

Statement of Tourism Secretary Christina Garcia Frasco on the Launch of the e-Travel System

Filipino hospitality, Philippine sustainable tourism highlighted at WTTC Global Summit Saudi Arabia

Frasco welcomes Uzakrota World’s Leading Country Award, PHL destinations’ citations

Frasco eyes more urban parks in the Philippines

DOT’s Frasco is among best-performing cabinet officials- RPMD Survey

Frasco hails first-ever North Luzon Travel Fair as critical to revitalizing tourism; reiterates the Philippines’ readiness for visitors

DOT welcomes long holidays for 2023; PBBM signing of Proclamation No. 90 important stimulus to PHL domestic tourism in 2023: DOT chief

PHL visitor arrivals reach 2M; tourism revenue hit 100B – DOT Chief

Philippines hailed as World’s Leading Dive and Beach Destinations

PHL Tourism Chief initiates tourism cooperation talks with Italian Tourism Minister

Palawan cited “Most Desirable Island” in 21st Wanderlust Travel Award

Outlook for Philippine tourism positive – tourism chief

DOT launches 1st North Luzon Travel Fair

Tourism chief to lead PHL contingent to WTM, brings listening tours to FILCOM in UK

PBBM oks easing of stringent travel restrictions

PHITEX 2022 yields record high 173M sales leads

One Health Pass replaced with PHL’s ‘simpler’ eARRIVAL CARD system

Philippine Experience Caravans to roll out 2023 – Frasco

DOT relaunches Philippine Tourism Awards

DOT exceeds 2022 target arrivals; PBBM rallies support for tourism as admin’s priority sector

Siargao, a priority for Tourism Development — Frasco

STATEMENT OF TOURISM SECRETARY CHRISTINA GARCIA FRASCO

DOT bares tourism wins under PBBM’s first 100 days

Tourist Rest Areas for PHL’s top destination – Cebu

Tourist Rest Areas launched in Mindanao

FY 2023 DOT budget submitted to plenary; Senators press for higher tourism budget

DOT celebrates Philippines’ back to back wins at Conde Naste Traveler Readers’ Choice Awards; Boracay claims spot as top island in Asia anew

Frasco secures CA nod as Tourism Chief

DOT receives HOR nod for P3.573 B budget for 2023

First ever DOT-DOLE nat’l tourism job fair opens

Tourism Chief tackles plans to revive industry, entices foreign investors in New York briefing

PBBM pronouncements at UN meet an “excellent representation” of PHL – Secretary Frasco

DOT-DOLE 1st Philippine Tourism Job Fair pre-registration now open, more than 7k jobs available to tourism job seekers- Sec. Frasco

STATEMENT OF TOURISM SECRETARY CHRISTINA GARCIA FRASCO ON THE LIFTING OF OUTDOOR MASK MANDATE IN THE PHILIPPINES

DOT muling pinarangalan ng Selyo ng Kahusayan sa Serbisyo Publiko 2022

DOT Chief welcomes IATF recommendation to make masking optional when outdoors

Phl scores back to back win in WTA Asia; Intramuros hailed as Asia’s Leading Tourist Attraction of 2022

Frasco lays out DOT plans and programs for industry recovery; lawmakers bat for higher DOT budget

More than 1,500 tourism jobs to be offered in joint DOT-DOLE job fair

Dot to ink tourism job fair program – trabaho, turismo, asenso with dole; domestic, international jobs to be available to tourism job hunters.

Thailand to offer tourism job opportunities to Filipinos– Frasco

PHL tourism chief pushes for increased connectivity, interoperability of vax certs, equalization of opportunities, and sustainability in APEC tourism ministers’ meet

Philippines strengthens tourism ties with Thailand

DOT TRAINS BOHOL VENDORS ON FILIPINO BRAND OF SERVICE EXCELLENCE

20 intl, local dive and marine experts take centerstage at PHIDEX 2022

Measures in place to ensure safe travel to PHL – Tourism Chief

FRASCO OPTIMISTIC OF PH TOURISM RESURGENCE, LAUDS CEBU TOURISM SUCCESS

Frasco eyes visitor-friendly, “distinctly Filipino” air, seaports in PHL

DOT celebrates Philippine Accessible Disability Services, Inc. (PADS) Dragon Boat Team historic four gold medal haul

DOT to facilitate interagency effort to strengthen Filipino Brand of Service

DOT to coordinate on quake-hit tourist destinations, heritage sites

PBBM cites tourism as top-priority; orders infra development, enhancement of Filipino brand

DOT chief takes “Listening Tours” to Luzon

DOT Chief affirms support to National Museum of the Philippines; proposes inclusion of museums in tourism circuits

Boracay, Palawan and Cebu hailed World’s Best Islands; DOT celebrates back-to-back accolades for PHL destinations

Marcos push for Tourism Infra strengthens industry, raises PHL global position – DOT Chief

DOT lauds Boracay’s inclusion in TIME’s 50 World’s Greatest Places of 2022

DOT lauds Cebu-based group win in int’l dance competition

Statement of tourism secretary christina garcia frasco on banaue.

Tourism Chief Frasco kicks off listening tours in VisMin, encourages officials to reach out to LGUs, stakeholders

Tourism chief Frasco to go on ‘listening tours’ starting this week

Dot reports increase in domestic tourism in 2021.

Incoming tourism chief receives warm welcome from employees, vows to bring “LGU perspective” to DOT

DOT’s Philippine International Dive Expo (PHIDEX) returns to Manila next month

First Davao Dive Expo slated on June 24

DOT touts ‘future farms’ as new and sustainable tourist attractions

DOT pitches PHL as ideal retirement destination in Japan Expo

DOT positions New Clark City as premier tourism investment hub

PH’s significant recovery in travel and tourism hot topic in Routes Asia 2022

DOT’s KAIN NA! takes foodies to a multi-sensory adventure

DOT Presents “Escape: Stories from the Road” Podcast

Second (2nd) Online Master TESOL Certification Course

DOT, MMC Foundation partnership brings ER bikes to three Metro Manila tourist sites

DOT spotlights PWDs and women in tourism with new “It’s More Fun for All” campaign

Media release from the department of tourism.

PHL scraps COVID pre-departure test for fully vaccinated, boostered tourists

DENR, DOT and DILG unveil Year of Protected Areas (YoPA) Campaign marking 90th anniversary of Protected Area establishment in the Philippines

Department of Tourism and Mickey Go Philippines introduce Pinoy Mickey Funko Pops

DOT launches “Keep the Fun Going” sustainable tourism campaign with gamified challenges

DOT reminds AEs on proper flag etiquette

DOT 49th Anniversary speech of the Tourism Secretary

DOT pushes for 100% vaccination of active tourism workers

DOT calls for lowering of testing price cap, certification of more saliva test facilities

PHL may be next filming location as Tourism Summit brings in Hollywood execs

WTTC Investment Tour Highlights Viable Opportunities in Clark, Central Luzon

WTTC lauds PH successful hosting of Int’l tourism Summit

Closing and Congratulatory Message during the Closing Ceremony of the 21st WTTC Global Summit of the DOT Secretary

WTTC: ‘Astonishing Recovery’ for Philippines’ tourism sector

World Travel & Tourism Council (WTTC) Exhibition Booths

WTTC Opening Ceremony Welcome Remarks of the DOT Secretary

WTTC bullish on PH tourism recovery amid Covid-19 pandemic

PHL Foreign tourist arrivals breach 200k mark – DOT Chief

DOT, partner agencies celebrate Filipino Food Month

WTTC announces speakers for its 21st Global Summit in the Philippines

DOT seeks return of Korean tourists, PH’s top market

DOT inks partnership with PNP, PDEA to beef up security in tourist destinations

DOT Launches Digital Travel Magazine “7641”

PHL says “All systems go for full reopening on April 1”; Removes EED as entry requirement

Phl logs more than 100,000 visitor arrivals since feb. 10 reopening.

DOT meets with Japanese tourism execs to boost inbound tourism arrivals

Statement of the DOT on hotel rooms occupancy guidelines

PH opens doors to all foreign tourists with easing of arrival requirements starting April 1

Travel to PHL is “easier”, more fun – Puyat

DOT Launches “Sounds More Fun in the Philippines” Playlist on Spotify

DOT hopeful on higher tourism growth with downgrading of NCR, 38 areas to Alert Level 1

Intramuros visitors up by 132% in February

DOT bares higher tourist influx since reopening

Dot welcomes iatf approval to accept the national vaxcert of 12 additional countries.

PH receives 9,283 inbound tourists; DOT upbeat on higher arrivals in months ahead

Puyat: Walk-in booster shots available for Boracay visitors

All systems go for PHL reopening for international travel- Puyat

Kids’ vaccination to make family travels safe, more fun

DOT lists requirements and protocols for arriving foreign leisure guests

Save the date for the World Travel & Tourism Council Global Summit in the Philippines

DOT: PH to accept fully-vaxxed tourists from visa-free countries starting Feb. 10

DOT supports ‘Pharmacy and Drive-thru Vaccination Sites’ rollout in Baguio City

DOT Launches “ASMR Experience the Philippines” Project

Dot to hold 2-day conference on english as second language (esl).

PH cities, hotels bag ASEAN tourism awards

Booster shots rolled out for fully vaxxed tourism workers; 50% of NCR hotel staff already “boosted”

DOT trains over 30,000 tourism professionals amid pandemic

Dot welcomes eased travel movement between gcq and mgcq areas for tourism revival, hotel in ‘poblacion girl” fiasco suspended, fined, intramuros gives vulnerable population a breathing space, dot launches website with exclusive travel deals for balikbayans.

Anilao Underwater Shootout stages a successful comeback

DOT’s KAIN NA! makes a comeback in Tagaytay

Dot earns unwto citation for have a safe trip, pinas ad.

Brgy. Bojo in Aloguinsan, Cebu bags UNWTO best tourism village award

More than 95% of tourism workers in dive establishments already vaccinated against covid-19: dot.

DOT: PHL to welcome Int’l tourists soon

Dot welcomes shortened quarantine days for balikbayans, dot asks lgus to simplify entry requirements in tourist spots, miceconnect 2021 positions boracay as asia’s premier bleisure destination, dot releases latest list of domestic destinations waiving rt-pcr tests for fully vaxxed visitors, dot grants incentives to fully vaccinated individuals visiting intramuros.

Statement of the DOT on waiving RT-PCR requirement to Boracay for fully vaxxed tourists

Anilao underwater ‘shootout’ is back

Puyat, dot execs pitch ph tourism in japan travel mart, dot welcomes eased restrictions in mm under alert level 2, free swab tests for domestic tourists starting nov. 1, dot lists destinations without testing requirement, with projected 100% inoculation rate by next month, boracay will soon waive rt-pcr testing for fully vaxxed visitors.

Domestic Travel Welcome-Back: DOT, TPB launch ‘It’s More Fun with You’ ad and ‘Have a Safe Trip, Pinas’ Viber Stickers

22 divers pass dot guide training in anilao.

PH cited Asia’s top beach and dive destination anew in 2021 World Travel Awards

Dot bullish on camiguin’s reopening, boosts covid-19 vax drive, dot clarifies travel guidelines for ncr residents under alert level 4, alert level 3, good for tourism jobs and businesses as holidays near – puyat, 2nd tourism & technology forum: readying for a different future.

DOT vaccination drive for tourism workers continues in Pampanga

Dot welcomes easing of age restrictions for interzonal travel, less quarantine days for travelers an ‘encouraging development’ for tourism industry – puyat.

Vaccination of Rizal tourism workers crucial to industry’s recovery — DOT

Dot welcomes siargao, palawan and boracay win in int’l travel mag awards, over 43k safety seals issued as more businesses apply, dot backs call to shorten quarantine of fully vaxxed travelers, dot calls for cooperation to ensure success of expanded operational capacity of restaurants in ncr.

DOT lauds Samar LGU vax drive for tourism workers

Message of secretary berna romulo-puyat on the celebration of world tourism day, dot ensures compliance of accredited hotels, resorts to new iatf alert level system guidelines.

Cebu vax drive for tourism workers gains traction with more than 50% inoculated

Puyat bares phl hosting of international tourism conference in march 2022.

DOT and TikTok launch #GandaMoPinas Campaign as local borders reopen

Dot invites esl teachers to free online master tesol certification course.

DOT launches “More Fun Awaits” global campaign to showcase travel preps

Statement of the department of tourism (dot), statement of the department of tourism on the inclusion of palawan in t+l’s top islands in asia, world list, more than 50% of country’s tourism workers vaccinated against covid-19 – dot chief, intramuros site visit of dot secretary berna romulo-puyat.

Intramuros sites and Rizal Park to reopen September 16

Philippines boosts participation in expo 2020 dubai, highlights pinoy food, local tourism businesses receive dot, tpb philcare kits.

DOT, partner agencies drive up promotion of Filipino food experience

More than 7.5k tourism workers in Baguio have received Covid vax – Tourism Chief

Dot, tpb distribute p19m worth of materials to promote safety protocols.

DOT, NTF bring vaccination rollout for tourism workers in Siargao Island

DOT: 95% of tourism workers in NCR vaxxed vs Covid-19

Sustainability is key to tourism industry’s recovery — puyat, dot lauds private sector for vaccine rollout in el nido.

PHITEX 2021: Beyond Business slated for September 19-23

Puyat leads vaccination drive for Pampanga tourism workers

More than 75% of Bohol tourism workers eyed for inoculation with second vaccine roll-out

More than 70% of tourism frontliners in metro manila vaccinated vs covid-19 — puyat.

DOT and TPB SUCCESSFULLY STAGED FIRST-EVER HYBRID EDITION OF THE REGIONAL TRAVEL FAIR

Dot, bpos to hold job fair, statement of the department of tourism.

DOT targets increased inoculation of tourism workers in more destinations

Puyat: More vaccines coming for Palawan tourism workers

Dot statement on nesthy petecio’s silver medal finish in the tokyo 2020 olympics, rizal park drive-thru vax site opens; puyat hails manila’s anti-covid initiative, dot gets highest coa rating for 2nd straight year, statement of the department of tourism on the passing of heritage and cultural tourism advocate mr. ramon hofileña, statement of the department of tourism (dot) on the heightened community quarantine level implementations in ncr, more tourism workers in boracay to receive covid-19 jabs – dot, dot reiterates call for safe travel amid stricter quarantine measure, dot reminds hotels, resorts that room sharing for quarantined families is allowed, dot celebrates siargao inclusion in time magazine as one of the world’s greatest places of 2021, dot launches halal food tourism, dot backs gov’t infra program to boost tourism, dot backs iloilo bid for ‘creative city of gastronomy’ recognition from unesco, statement of the department of tourism on iatf decision allowing children five years old and above, and fully vaccinated seniors to visit outdoor areas, dot partners with viber to promote kain na foodfest, dot: 3,000 boracay tourism workers to receive covid vax, dot, tpb continues to support lgus with digital transformation projects, dot teams up with scarlet belo and cartoon network to take safe trips, dot statement on the activities of the taal volcano, bakuna by the sea: dot hails davao’s innovative approach to travel, hospitality workers, dot, tpb to roll out 2nd phase of rt-pcr financial subsidy program through pcmc, dot unveils region 1 tourism recovery plan, statement of the department of tourism on the drop of tourism contribution to gdp, dot to co-stage virtual fête de la musique june 18-21, more ncr tourism workers receive support through dot-dole program, travel for tourists of all ages from ncr plus to boracay, other mgcq areas extended to june 30, dot eyes inoculation of 5,000 bohol tourism workers, museums in ncr plus to reopen on limited capacity – dot, dot turns food tourism to high heat with 2021 kain na, terms for tourism business loans eased, dot bares tourism recovery plans for bulacan, dot and tiktok launch #sarapmagingpinoy campaign to promote local food tourism, dot launches five-year plan to develop tourism professionals, dot celebrates world environment month, highlights responsible marine wildlife interactions, statement of the department of tourism (dot) on the rt-pcr requirement for leisure travelers under iatf-eid resolution 118a, statement of the dot on iatf-eid resolution 118a, more than 16k bulacan tourism workers get dot-dole cash aid, dot orders stricter monitoring of staycation hotels and aes in gcq areas following new iatf guidelines, dot lauds inclusion of frontline tourism workers in a1 priority group, dot hosts pata summit for first hybrid mice event in 2021, over 1,400 golf workers in metro manila get dot-dole cash aid.

Central Luzon to Showcase ‘Flavors of Pampanga’, readies tourists for gastronomic experience

Dot lauds ph hotels recognized with the 2021 tripadvisor awards, 3,390 tourism workers in marinduque approved to receive p16.95m dot-dole cash aid, puyat bares tourism recovery plans for marinduque, dot proposes ‘green lane’ for fully vaccinated travelers, dot hails expansion of priority vaccination to a4 cluster, including tourism frontliners, 5,986 staycation rooms open for guests from ncr plus, intramuros to open fort santiago, baluarte de san diego to visitors may 17, dot statement on the proposed vaccination center in nayong pilipino, dot welcomes iatf decision to ease travel in ncr plus, 221m cash aid approved for 44k tourism workers in western visayas, statement of the department of tourism (dot) on the collected garbage from the waters of samal island, davao del norte, statement of the department of tourism (dot) on the reported violations of a hotel in davao city, dot to host hybrid pata annual event for adventure travel, p1.5m cash aid approved for 295 intramuros tourism workers, updates on the vaccination of tourism workers, labor day vax for tourism workers, more than 400k displaced tourism workers get dot-dole cash aid, philippine tourism and mice industry to bounce back with the hosting of wttc global summit, dot, manila lgu ink mobile hospital deal, dot-accredited establishment staysafe.ph-users, eligible for safety seal certification, dot grants the wttc safe travels stamp to 33 more hotels nationwide, dot welcomes proposals to convert tourism sites to temporary medical facilities, dot lauds repurposed hotels, calls for ‘bayanihan’ vs covid, dot approves use of burnham green and quirino grandstand in rizal park for temporary mobile hospital and drive-thru vaccination site, dot celebrates saud beach inclusion in the 25 most beautiful beaches in the world list of travel and leisure, 67k displaced tourism workers of ncr+ receive dot-dole cash aid, statement of the department of tourism on the vaccination facility in nayong pilipino property, statement of the department of tourism regarding the alleged birthday “super spreader” event in boracay, dot eyes adoption of covid-19 digital travel pass, dot statement on ecq extension in ncr plus, phl, dot nominated at asia edition of 2021 world travel awards, dot pushes for inclusion of other tourism workers in priority group a4, strict new guidelines set for hotels under ecq; lenten ‘staycations’ within ncr plus suspended, dot statement on ecq for ncr+ areas, dot statement on holy week, rizal park and paco park adjust visiting hours, remain open for physical exercise, dot statement on biatf measures for boracay, tpb philippines spearheads tourism and technology forum (ttf), dot statement on coron tourist with falsified travel documents, dot supports rizal tourism circuit on food, faith, art, adventure and nature, the ‘fun’ continues: philippines joins digital itb berlin, dot to spur domestic tourism in rizal, dot’s stdp program to enhance resiliency of phl destinations – puyat, dot sustains online presence with ‘wake up in ph’ campaign and safety travel advisories, dot greenlights partial operations of hotel restaurants on june 15, dot eyes tourism recovery as more destinations may reopen, domestic travel to drive recovery of tourism industry, says survey, dot hails revival of tourist cops, tourism will recover well, dot chief vows, dot celebrates hidden beach, palawan’s inclusion in cnt’s best beaches in the world, tourism industry hikes share in gdp to 13%; puyat sees strong recovery from pandemic, dot pushes stringent guidelines for stakeholders across the nation, biatf denounces travelers’ breach of entry protocol to boracay, dot lauds partnership model for safe and sustainable tourism in boracay, dot issues guidelines on tourist land transport services, iatf–eid resolution reiterates ‘dot certificate of authority’ as requisite to operate, dot issues protocols on restaurant operations under the new normal, dot welcomes ph ‘rising stars in travel’ citation by forbes.com, dot, dti to roll out health and safety guidelines, digital solutions for restaurants, dot, attached agencies promote digital tourism, tourism chief reminds hotels, resorts: no dot certificate, no business operations during mgcq, dot assists 36,000 tourists during covid-19 crisis, dot webinar tackles digital as the new normal, dot welcomes the resumption of tourism operations in areas under mgcq, trust and health safety key to phl tourism recovery – dot chief, puyat on reopening tourism: ‘do it slowly but surely’, dot brings home 84 tourists stranded in eastern visayas, dot supports coron’s sustainable tourism development to bounce back, dot welcomes puerto princesa reopening to domestic tourists, dot urges for more wttc safe travels stamp applications, boracay’s white beach, el nido’s nacpan beach among tripadvisor’s top beaches in asia, dot statement on uniform travel protocols, dot supports the safe reopening of negros oriental, puyat affirms support for siquijor’s reopening, dot statement on el nido’s swift action against tourists with false covid test records, dot supports dilg’s streamlining of travel requirements, dot assists 98 stranded tourists in western mindanao, dot assists 246 tourists stranded in bicol, dot response team assists 1004 tourists stranded in caraga region, statement of tourism secretary bernadette romulo-puyat, dot8 springs stranded tourists, total assisted travelers now at 11,000, dot assists stranded tourists in central luzon, dot response teams assist over 10,000 travelers, dot announces the guidelines on hotels and other accommodation establishments during the enhanced community quarantine, dot chief: innovation to spur food tourism in new normal, dot webinar tackles heritage site conservation and use amid pandemic, dot banners “filipino brand of service”; assists over 35,000 tourists amid pandemic, dot to jumpstart domestic tourism under stricter protocols with iatf and lgus, dot partners with wttc to share experts’ tourism outlook, recovery plans, dot regulates hotel food deliveries, dot: tourism industry up to tough challenges on path to recovery, more than 155,000 tourism sector workers receive first tranche of dof wage subsidy program, dot mounts sweeper flights; brings home 1000 stranded domestic tourists, dot webinar tackles recovery, future of phl’s m.i.c.e., statement of the department of tourism (dot) on the iatf–eid authorization to mount sweeper flights, statement of secretary bernadette romulo puyat on the passing of former dot secretary ramon jimenez, jr., dot–ncr assists 24,000 in–transit nationals amid ecq of luzon, dot and ssi support philippine food producers in online philippine harvest, dot provides virtual backgrounds for video calls to encourage “travel from home”, dot offers online “enhanced opportunity” training for tourism stakeholders, dot-region 6 delivers filipino brand of service in crisis, dot outlines tourism response, post–covid 19 recovery plan to aid private sector, dot issues guidelines defining “new normal” for accommodation establishments, 24,836 hotel rooms reserved for ofws’ quarantine, bpo staff use – dot chief, stranded tourists welcome extended stay in batanes, dot welcomes lifting of travel ban for outbound passengers, recovery flights, tourism transport to continue for stranded passengers, statement of the department of tourism (dot) on covid-19 local transmission, dot statement on the curfew recommendation for lgus, dot, turkish airlines form partnership to increase philippine tourism from europe and mediterranean source markets, dot celebrates first run of the philippine international hot air balloon fiesta in calabarzon, puyat convenes tourism council; invites public to travel within ph, international visitor receipts hit usd 9.31b in 2019, 20.81% up from 2018, dot postpones nationwide mall sale to prioritize safety of citizens, department of tourism unveils new ad inspired by the abakada alphabet, highlighting unique filipino culture, puyat advocates for cultural and ecotourism in the new normal, relive the history of intramuros city with augmented reality app experience philippines, dot: 1st phl shopping fest kicks off march 1st, doh, dilg and dot give public gatherings green light, 2019 international arrivals exceed target with 8.26 million visitors to the philippines, dot welcomes lifting of taiwan travel ban, joint statement of the department of tourism and tourism congress of the philippines, dot backs “balik sa bohol” for tourism industry revival, intramuros reopens in the new normal, relaxed and standard health protocols, personalized trips key to tourism recovery, says latest philippine travel survey, dot files falsification raps against boracay tourists with forged covid test results, dot: reclassification of industries to hasten recovery, dot statement following the president’s latest directive to contain the ncov, guidelines in handling guests in tourism enterpises in the advent of ncov global health emergency, puyat eyes isabela as top agro-ecotourism destination, dot, dti inspect hotels and restaurants’ compliance with health and safety protocols, dot chief checks readiness of palawan, fresh produce at your doorstep, courtesy of dot–grab tie–up, dot ‘seal of good housekeeping’ boosts confidence among restos amid pandemic – puyat, dot celebrates as palawan reclaims best island in the world citation, tourism chief bullish on english schools’ recovery, dot, fao team up for sustainable farm tourism in ph, meetings, conventions allowed only under mgcq at 50% capacity – dot, boracay now open to youths, seniors from region, dot chief lauds senate approval of bayanihan 2 on final reading, cites plans for 10b stimulus fund, “think out of the box,” tourism industry urged in dot webinar, dot assures tourist stakeholders of all–out support for slow reopening, puyat meets with bohol execs to tackle tourism situation, recovery plans, dot, cloud panda ph launches phl harvest e-commerce site, statement of dot, dot to scale up baguio’s ridge to reef travel bubble plan across phl, dot celebrates “surprisingly spectacular diving” tag of 3 phl dive sites by lonely planet, phl bags best overseas diving award 2020, statement of department of tourism, dot’s phidex 2020 goes digital, dot-dole amended jmc further expands coverage of beneficiaries, dot welcomes new protocols for arriving passengers, dot bats for a more fun, safe and sustainable laguna, dot chief: green corridors are critical to tourism recovery, dot statement on destination test requirements, dot statement on boracay tourists, dot welcomes asean as a single tourism destination, iatf allows baguio hotels to receive domestic tourists under gcq, raising the bar of filipino hospitality with the leadership excellence series 2021, dot lauds inclusion of tourism frontliners in priority group for vaccination, dot’s ‘kain na’ cooks up online food fest, phl hosts 3rd asean meet on tourism professionals; dot commits to beef up competency of tourism workforce in the new normal, safety marshalls to ensure physical distancing when beaches, resorts reopen, 10,000 bpo jobs for displaced tourism workers, zero interest loans, no collateral, easy terms for distressed tourism businesses, puyat to grace baguio reopening; dot to go big on domestic tourism in 2021, chocolate, coffee, tea take centerstage in dot’s kain na food festival, dot receives safetravels stamp from world tourism body, puyat launches baguio’s vis.i.t.a. platform, reopening of boracay to more markets builds momentum for domestic tourism revival, puyat: even in most unusual ways, tourism must stay alive, message of tourism secretary bernadette romulo-puyat on the celebration of the world tourism day, dot statement on the city garden grand hotel, dot chief supports negrense cookbook launch, vows continued support to thriving food tourism scene in western visayas, dot statement on the closure of makati shangri-la hotel, dot pledges to help negros occidental get ready for more domestic tourists, dot welcomes the first two recipients of the wttc safe travel stamp, dot statement on baguio party incident, dot welcomes iatf decision to allow balikbayans, dot launches “have a safe trip, pinas” to promote safe travels and support tourism workers, dot celebrates ph’s victory as world’s leading dive destination and tourist attraction for intramuros in 2020, dot welcomes coron’s reopening on dec. 1 with health and safety measures in place, dot aims for data-driven response to tourism recovery under new normal with survey, dot backs enhanced contact tracing; announces low-cost covid tests with up-pgh for boracay-bound tourists, puyat encourages affected tourism workforce to avail of the expanded dot-dole financial assistance, dot welcomes strides to reboot mice, puyat visits batangas, shores up dive tourism, statement of the dot on cebu resort incident, dot presents virtual concert to promote manila’s cultural heritage sites, dot, makatimed foundation forge partnership for tourism destination health security, dot launches webinar training on reducing single-use plastics for hospitality sector, dot to assist zambales in safe and gradual tourism reopening, dot bats for uniform lgu travel requirements, dot, tpb promote pinoy christmas through music, dot’s 2020 kain na satisfies christmas cravings on fourth leg, dot’s 2020 kain na satisfies christmas cravings on fourth leg, dot prepares local destinations, accommodation establishments for wttc safe travels stamp application, 27,000 displaced tourism workers of car receive dot-dole financial assistance, dot backs temporary suspension of flights from uk, dot inspires balikbayans to come home with ‘balikan ang pilipinas’ campaign, dot, tpb expand rt-pcr financial subsidy program for 11,600 tourists through pcmc, dot reiterates penalties for quarantine hotels used for staycation and other purposes, dot supports strict entry protocols in light of new covid-19 variant, dot reiterates rule on staycation hotels, dot celebrates boracay and palawan inclusion in conde nast’s 25 best island beaches in the world list, dot issues guidelines for safe ‘staycation’, dot accreditation goes digital, boracay reopens, heralds “safe, gradual” revival of philippine tourism, dot gets coa’s highest rating on 2019 audit, dot sees domestic tourism boom in baguio with affordable antigen testing, phl islands named top favorites by int’l travel magazine, dot welcomes reopening of ilocos norte to luzon tourists on oct 15, dot funds rt-pcr testing of boracay tourism workers, dot inks tourism “cares for travel” msme loan program with sb corp, health, safety rules drawn up for recreational diving, batangas now open to divers – dot, puyat reminds ‘staycation hotels’ to follow rules, protocols, dot welcomes baguio city’s opening to guests from luzon starting oct. 22, dot statement on the opening of ilocos sur starting nov 15, ridge and reef corridor heralds domestic tourism recovery, puyat – hotels in gcq, mgcq may now be allowed to operate at full capacity, pra to amend retirement policies, suspends processing of srrv applications, dot supports expansion of palawan’s travel bubble starting oct. 30, tourism chief bats for covid-19 tests price cap, dot urges tourism businesses to avail of sb corp’s covid-19 loan program, dot leadership excellence series returns anew, dot statement on the inclusion of palawan and boracay in big 7 travel’s list of 50 most beautiful places, dot, tpb launch official philippine travel app, dot, dole agree on guidelines for cash-for-work program for displaced tourism workers, tour guides, dot’s kain na takes on food trips for november, intramuros is now asia’s leading tourist attraction the philippines and dot receive accolades at the 2020 world travel awards asia winners day, statement of the department of tourism on prrd’s signing of eo 118, dot inks mou on tourism education, training, dot partners with nissan to promote ‘safe trips’, dot allows operation of 7,200 hotels, resorts, dot lauds ibagiw 2020, baguio’s creative city festival, dot welcomes reopening of phl’s surfing capital, siargao, ridge and reef travel corridor expands to ilocos sur, dot chief visits baguio city, touts cultural tourism with creative crawls, sec. puyat to grace 2020 bambanti festival, dot allocates p340.7m for iloilo tourism infrastructure development, tourist arrivals mark 7.4m in november, up by 15.58%, safety of tourists is dot’s top priority – sec. puyat, dot, cab collaborate to enhance air passenger’s bill of rights, statement of the department of tourism, 2nd statement of the department of tourism, dot thanks smart for emergency satellite phones, dot–dotr meet to boost tourism infra, connectivity; 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Celebrating Oceania’s Excellence: Winners of the 2023 World Travel Awards

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Every year, the World Travel Awards recognize the best in the global travel and tourism industry. This year’s prestigious World Travel Awards – Asia & Oceania edition was hosted at the Ho Chi Minh City, Vietnam recently. The best brands and names in hospitality, travel and tourism in Oceania came together, celebrating a tough few years in the rear view mirror and the resurgence in travel and interest in the region. Let’s take a closer look at the well-deserved winners in Oceania:

Oceania’s Leading Island Destination 2023: Cook Islands

The Cook Islands have long been celebrated for their pristine beaches, clear waters, and vibrant culture. This award recognizes the islands’ enduring charm and appeal, making them a top choice for travellers seeking a tropical getaway.

Oceania’s Leading Beach Resort 2023: Malolo Island Resort, Fiji

Nestled in the heart of Fiji’s Mamanuca archipelago, Malolo Island Resort stands out as Oceania’s leading beach resort. It’s no surprise that this pristine paradise, with its palm-fringed shores and crystal-clear waters, has received such acclaim. Guests can expect a truly immersive tropical experience with a wide range of activities, water sports, and luxurious accommodations.

Oceania’s Leading Dive Destination 2023: The Islands of Tahiti

The Islands of Tahiti have once again claimed their title as Oceania’s leading dive destination. With a stunning underwater world filled with vibrant coral reefs, marine life, and intriguing shipwrecks, it’s a diver’s dream come true. The clear waters and diverse marine ecosystems make this destination a must-visit for diving enthusiasts.

Oceania’s Leading Boutique Resort 2023: Taveuni Palms Resort, Fiji

Taveuni Palms Resort is a hidden gem in Fiji, known for its intimate and bespoke holiday experiences. This boutique resort offers a limited inventory of luxury villas, ensuring privacy and seclusion for guests. Surrounded by lush tropical gardens and facing a private beach, it’s the epitome of decadence and pampering in an idyllic setting.

Oceania’s Leading Executive Club Lounge 2023: Club InterContinental @ InterContinental Wellington, New Zealand

InterContinental Wellington’s Club InterContinental Lounge in New Zealand offers an exceptional experience for travellers seeking luxury and convenience. With stunning views, exclusive services, and a serene ambience, it’s the perfect place for business or leisure travellers to unwind and enjoy premium amenities.

Oceania’s Leading Family Resort 2023: InterContinental Fiji Golf Resort & Spa, Fiji

For families looking for a no-holds barred holiday in a tropical paradise, the InterContinental Fiji Golf Resort & Spa in Fiji is an unbeatable choice. With a range of family-friendly activities, dedicated kids’ clubs, and spacious accommodations, it’s a place where everyone can create cherished memories.

Oceania’s Leading Green Hotel 2023: InterContinental Bora Bora Resort & Thalasso Spa, French Polynesia

The InterContinental Bora Bora Resort & Thalasso Spa in French Polynesia sets an example for sustainability in the luxury hospitality sector. This award recognises its commitment to eco-friendly practices, preserving the natural beauty of the region for generations to come.

Oceania’s Leading Hotel Suite 2023: Imperial Suite @ Sofitel Fiji Resort & Spa

The Imperial Suite at Sofitel Fiji Resort & Spa is the epitome of opulence and comfort. Offering breathtaking ocean views, personalised services, and spacious living areas, it’s a haven for those seeking the ultimate luxury experience in Fiji.

Oceania’s Leading Luxury Hotel Villa 2023: The Residence @ The George Christchurch, New Zealand

The Residence at The George Christchurch in New Zealand offers an exclusive experience for discerning travellers. With its elegant design, private courtyard, and impeccable service, it’s the pinnacle of luxury accommodations.

Oceania’s Leading Private Island Resort 2023: The Brando, French Polynesia

The Brando in French Polynesia has long been the benchmark for exclusivity and sustainable luxury. Situated on its private atoll, this eco-friendly resort offers unparalleled luxury, seclusion, and eco-conservation. It’s the perfect retreat for those seeking the ultimate private island experience.

Oceania’s Most Romantic Resort 2023: Seabreeze Resort Samoa

The Seabreeze Resort Samoa captures the essence of romance with its intimate setting and breathtaking ocean views. It’s the ideal destination for couples seeking a romantic escape in a serene and idyllic atmosphere.

Oceania’s Leading Tourist Board 2023: Tourism Fiji

Tourism Fiji continues to excel in promoting the beauty and culture of Fiji to the world. This award recognises their dedication to showcasing Fiji as a premier travel destination and welcoming visitors with open arms.

From a macro view, let’s go more granular – if we can call country-wise granular! We continue our exploration of the winners, highlighting the best in the Cook Islands, Fiji, French Polynesia, and Micronesia.

• Cook Islands

Oceania’s Leading Resort & Cook Islands’ Leading Villa Resort for 2023: Pacific Resort Aitutaki

The Pacific Resort Aitutaki has not only won recognition as Oceania’s leading resort, but also for having the leading villa resort in the Cook Islands. This remarkable resort presents overwater bungalows and beachfront villas, making it a haven for honeymooners and discerning travellers. The stunning Aitutaki Lagoon provides a mesmerising backdrop for an unforgettable vacation.

Cook Islands’ Leading Resort 2023: Etu Moana

The Etu Moana Resort , another jewel in the Cook Islands’ crown, has been recognised as Oceania’s leading resort. Nestled amidst lush gardens, this eco-friendly resort offers a harmonious blend of nature and comfort. Guests can enjoy private villas, a tranquil pool, and the serenity of the nearby beach.

Cook Islands’ Leading Boutique Hotel 2023: Little Polynesian

The Little Polynesian Resort in the Cook Islands has secured its place as Oceania’s leading boutique hotel. This intimate retreat offers a secluded and romantic ambiance. With its beachfront villas, private pools, and stunning lagoon views, it’s the perfect choice for couples seeking a peaceful and luxurious escape.

Fiji’s Leading Hotel Suite 2023: Natadola Suite @ InterContinental Fiji Golf Resort & Spa

The Natadola Suite at the InterContinental Fiji Golf Resort & Spa is in a class of its own when it comes to luxury and comfort in Fiji. Overlooking the serene Natadola Bay, this sprawling suite offers sweeping ocean views, a private plunge pool, and personalised services. It’s the perfect choice for those seeking an elevated Fijian experience. And lest you were wondering if the InterContinental Fiji was being immediately familiar, it’s because it won Oceania’s Leading Family Resort for this year.

Fiji’s Leading Resort 2023: Taveuni Palms Resort

The Taveuni Palms Resort in Fiji has earned the title of Oceania’s leading resort. This boutique property provides guests with an intimate and secluded experience. With only a few villas on a private beach, it’s a tranquil oasis where travellers can indulge in privacy and luxury.

 French Polynesia/ Tahiti & Her Islands

French Polynesia’s Leading Luxury Hotel Villa 2023: Three-Bedroom Beachfront Villa Estate @ Four Seasons Resort Bora Bora

The super-luxe Four Seasons Resort Bora Bora in French Polynesia boasts the leading luxury hotel villa in the region. The Three-Bedroom Beachfront Villa Estate is a lavish retreat with stunning views of Mount Otemanu and direct beach access. It’s an ideal choice for families or groups looking for opulence and space.

French Polynesia’s Leading Resort 2023: Four Seasons Resort Bora Bora

Four Seasons Resort Bora Bora is not just home to a remarkable villa but also Oceania’s leading resort. With its iconic overwater bungalows, luxurious spa, and unparalleled views of the lagoon and the South Pacific, it offers an unrivalled experience in French Polynesia.

Micronesia’s Leading Resort 2023: Crowne Plaza Resort Saipan

In the heart of Micronesia, the Crowne Plaza Resort , Saipan reigns as the region’s leading resort. With its beachfront location, water sports, and proximity to cultural attractions, it’s a destination that combines leisure and adventure.

Our journey through the 2023 World Travel Awards takes us further into the pristine corners of Oceania, unveiling the top destinations and accommodations that personify luxury, comfort, and exceptional experiences. Now, we delve headfirst into the winners from New Caledonia, New Zealand, Samoa, Tonga, and Vanuatu.

New Zealand

New Zealand’s Leading Boutique Hotel 2023: The George Christchurch

The George Christchurch claims the title of New Zealand’s leading boutique hotel as well as Oceania’s Leading Luxury Hotel Villa! Nestled in the heart of Christchurch, this chic and contemporary hotel offers a refined stay. With its picturesque gardens and delectable dining, it’s a haven for travellers seeking luxury in the South Island’s largest city.

New Zealand’s Leading Business Hotel 2023: InterContinental Wellington

In New Zealand, the InterContinental Wellington has been recognized as the leading business hotel. This prestigious hotel caters to discerning business travellers with its modern amenities, central location, and exceptional conference facilities.

New Caledonia

New Caledonia’s Leading Resort 2023: Le Méridien Nouméa

The Le Méridien Nouméa in New Caledonia stands as the destination’s leading resort in 2023. Set against the backdrop of the Pacific Ocean, this exquisite resort offers a blend of French sophistication and Pacific Island charm. With its elegant rooms, azure pools, and proximity to Nouméa’s vibrant culture, it’s a gateway to relaxation and exploration.

Samoa’s Leading Hotel 2023: Seabreeze Resort Samoa

Besides taking the crown as Oceania’s leading Romantic Resort for 2023, the Seabreeze Resort Samoa also takes the crown as Samoa’s leading hotel in 2023. Perched on the southern coast of Upolu, this adults-only retreat offers a tranquil and intimate atmosphere. Guests can enjoy stunning ocean views, infinity pools, and a spa for the ultimate relaxation.

Tonga’s Leading Resort 2023: Sandy Beach Resort

In Tonga, the Sandy Beach Resort is celebrated as the leading resort. Nestled on the shores of Foa Island in the Ha’apai group, this eco-friendly resort offers pristine beaches, vibrant marine life, and opportunities for water-based adventures.

Vanuatu’s Leading Boutique Resort 2023: Tamanu on the Beach Resort and Spa

Tamanu on the Beach Resort & Spa in Vanuatu has secured its place as Oceania’s leading boutique resort. Located on the shores of Aore Island, this serene retreat boasts tropical gardens, stunning coral reefs, and a rejuvenating spa—a perfect escape for those seeking a tranquil paradise.

These remarkable destinations and accommodations offer a glimpse into the diversity and splendor of Oceania. From the French-inspired elegance of New Caledonia to the boutique luxury of New Zealand, the serenity of Samoa’s Seabreeze Resort to Tonga’s Sandy Beach Resort’s natural beauty, and the intimate charm of Vanuatu —Oceania’s 2023 award winners promise unparalleled experiences for travellers seeking the best that this region has to offer.

As you plan your next escape to Oceania, consider these exceptional destinations and accommodations for a journey filled with relaxation, adventure, and cherished memories. Book your stay at one of these award-winning establishments and embark on an unforgettable adventure in the South Pacific. Check out our other blogs, the freshest holidays from Fiji , (No? Cook Islands , maybe?) or just read more details about the WTA winners by going to their pages. At any point of time, if you want some help on planning the perfect South Pacific escape, call our South Pacific Specialists at 1300 991 751 !

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AirAsia Triumphs at World Travel Awards Grand Final

AirAsia is ending the year on a high note dominating the Leading Low-Cost Airline categories at the World Travel Awards (WTA) Grand Final 2023. AirAsia was named the World’s Leading Low-Cost Airline for an incredible eleventh consecutive year and the World’s Leading Low-Cost Airline Cabin Crew for an impressive seventh year in a row.

Adding to the victory, AirAsia X (AAX) garnered the coveted World’s Leading Long-Haul Low-Cost Airline award. AAX’s triumph in its inaugural nomination is a testament to AAX’s exceptional recovery and growth trajectory following the two-year hiatus during the pandemic.

AirAsia emerged as the winner in these categories, surpassing 15 other airlines, and garnering the highest votes from industry players, consumers, and travel experts from across the region. These recognitions follow AirAsia’s earlier triumphs as Asia’s Leading Low-Cost Airline and Asia’s Leading Low-Cost Airline Cabin Crew at the World Travel Awards Asia and Oceania in September.

AirAsia Aviation Group Limited Group CEO, Bo Lingam  said: “As AirAsia commemorates 22 years of democratising air travel this month, these awards symbolise our dedication to connecting people with the best value fares. Above all, the heart of this extraordinary achievement lies in the remarkable efforts of our Allstars, who consistently go above and beyond to ensure our guests experience a fantastic journey with us. We recognise the responsibility that comes with being a leader in the industry, and we are dedicated to further enhancing our services, expanding our network, and embracing innovations that will redefine the travel experience in 2024 and beyond.”

AirAsia X CEO, Benyamin Ismail  added: “This year signifies the most transformative period for AAX in our 16 years of operations. We could not have done it without the support of our valued guests who have chosen us as their preferred long-haul low-cost airline. This accolade underscores the remarkable post-pandemic strides we have made since restarting our operations in March 2022 and goes out to the hard work and dedication of the whole team at AAX. The future holds exciting possibilities for AAX, and we are committed to continuing our journey of connecting people to their favourite medium and long-haul destinations at the best value, for years to come.”

Established in 1993, the World Travel Awards are hailed as one of the most prestigious, comprehensive, and sought-after awards programs commemorating excellence across key sectors of travel, tourism, and hospitality.

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AirAsia Triumphs at World Travel Awards 2023

Posted by Nichapa Ratchanathammachai | Sep 9, 2023 | Accolades | 0 |

AirAsia emerged as the winner in these categories which included more than 10 other airlines garnering the highest votes from industry players, consumers, and travel professionals from across the region. This recognition follows AirAsia’s winning of the World’s Best Low-Cost Airline by Skytrax for 14 consecutive years recently.

Bo Lingam, Group CEO of AirAsia Aviation Group Limited  said: “We would like to thank the nearly 800 million guests and our incredible Allstars for rocking our world! As we fly higher with the aim to reinstate 200 planes back into operations by year-end, rest assured that we will stand by the same solid dedication that has brought us here. We are committed to honouring the confidence of our guests by providing better customer experience on the ground and in the air. Here’s to a fantastic journey ahead!”

Suhaila Hassan, AirAsia Group Head of Cabin Crew  added: “We are proud to be honoured again with the prestigious ‘Asia’s Leading Low-Cost Airline Cabin Crew’ award for the seventh consecutive year. This incredible achievement is a heartfelt tribute to our exceptional cabin crew members who consistently go above and beyond to ensure our guests’ journeys are nothing short of fantastic. This recognition is not just a pat on the back. It is a testament to the passion and commitment that drive us forward and to constantly improve. With this accolade, we are even more motivated to keep pushing boundaries and delivering unforgettable journeys to each and every one of our valued guests.”

Adding to the triumph, its one-stop travel platform, airasia Superapp clinched the highly coveted “Asia’s Leading Online Travel Agency (OTA)” award. airasia Superapp’s victory in its inaugural nomination is a testament to its innovative approach as a complete end-to-end travel app offering an exceptional booking experience for travellers. With products and services ranging from an OTA platform offering flights from over 700 carriers worldwide and 900,000 hotels across the globe to ride-hailing with airasia ride and duty-free shopping experiences with airasia shop and more, airasia Superapp has become an indispensable tool for 51 million travellers seeking value, convenience and affordability.

Chief Operating Officer airasia Superapp, Tan Mai Yin  commented: “We are elated to receive this prestigious recognition as ‘Asia’s Leading Online Travel Agency.’ Winning the award over other well-established OTAs solidifies our commitment to transforming travel through technology and providing travellers with a one-stop platform that revolutionises their journey from planning to experiencing. Thanks again to those who voted for us and your continued support on airasia Superapp, we remain steadfast in our mission to raise the bar in the travel industry and look forward to consistently delivering unparalleled services and experiences to our customers.

Established in 1993, the World Travel Awards is hailed as one of the most prestigious, comprehensive and sought-after awards programmes commemorating excellence across key sectors of travel, tourism and hospitality.

Stay up to date with everything from AirAsia and airasia Superapp by following us on X (x.com/airasia), and Instagram (instagram.com/flyairasia and instagram.com/airasiasuperapp) for the latest updates. For a seamless and enhanced experience, download the airasia Superapp from the Apple App Store, Google Play Store, or Huawei AppGallery.

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IJGlobal Awards 2023 – Asia Pacific Deal Winners

The Asia Pacific winners of the IJGlobal Awards 2023 in the deals category were unveiled last evening at Raffles Hotel, Singapore amidst a jubilant atmosphere of celebration and recognition.

Renowned as the gold standard in peer-reviewed awards for greenfield infrastructure and energy, the IJGlobal Awards are esteemed for their transparency and meticulous evaluation process.

This year's winners exemplify excellence in the field, demonstrating exceptional market activity throughout the 2023 calendar year. Notably, we received an exceptionally high volume of submissions for deal awards in 2023, reflecting the vibrant market activity, resulting in more winners than usual.

We are delighted to announce 36 winners who achieved financial close during the judging period, representing the pinnacle of achievement in the industry. They are: 

• Energy Transition Deal of the Year — solar — Zenith Energy
• Energy Transition Deal of the Year — manufacturing — Project Ceres
• Transport Deal of the Year — Airport — Project Bamboo Grove
• Transport Deal of the Year — Port — Geelong Port
• Telecoms Deal of the Year — Dito Telecommunity
• Digital Infrastructure Deal of the Year — Data Centre — Project Gotham
• Digital Infrastructure Deal of the Year — Bluecurrent
• Deal of the Year - Manufacturing — Jindal Steel Odisha
• Mining Deal of the Year — Gold Fields
• Renewable Energy Deal of the Year — Dragon Sea Project - Hai Long
• Renewable Energy Deal of the Year — Onshore Wind — Project Monsoon
• Renewable Energy Deal of the Year — RTC —ReNew RTC
• Renewable Energy Deal of the Year — Biomass — SAEL Biomass Energy Project
• Renewable Energy Deal of the Year — Waste-to-Energy — China Tianying - Vietnam
• Renewable Energy Deal of the Year — BESS  — Hyogo Project
• Portfolio Financing Deal of the Year  —   Sherabad, Jizzakh, Samarkand Solar PV Portfolio
• Renewable Energy Deal of the Year — Offshore Wind — Jeonnam 1
• Power Deal of the Year — Gas-fired  —  Unique Meghnaghat
• Power Deal of the Year — Hybrid Project Helix
• PPP Deal of the Year — Power — Syrdarya II
• PPP Deal of the Year -— Social Infrastructure —  NZ Schools II PPP
• Refinance Deal of the Year — Airport — Perth Airport
• Refinance Deal of the Year — Data Centre — Project Lightsaber
• Refinance Deal of the Year — Renewables Portfolio — TILT Renewables
• Refinancing Deal of the Year — Onshore Wind — Project Typhoon
• Wrap of the Year — InfraZamin Pakistan
• Innovation Deal of the Year— Bonds — Bayfront Infrastructure
• Innovation Deal of the Year — Partial Guarantee — Pran Agro
• Sustainability-linked Loan — Data Centres — SEL 2 Financing
• Oil & Gas Deal of the Year — Decarbonisation —  RDMP Balikpapan
• Oil & Gas Deal of the Year — Downstream — HPCL Rajasthan Refinery
• Oil & Gas Deal of the Year — LNG Terminal — HK Offshore LNG Terminal Project
•  Oil & Gas Deal of the Year — Petchem — LINE Project
•  Green Bond — REC
•  ESG Deal of the Year — Indonesia Samurai Blue Bonds
•  Social Infrastructure Deal of the Year — Telangana Super-Specialty Hospitals

Energy Transition Deal of the Year – Solar

Zenith energy.

Decarbonizing the mining sector stands as a notable exemplar of energy transition. Leading this charge is Zenith Energy, an independent power producer based in Western Australia, which has spearheaded ESG transition efforts within the Australian mining sector. Offering solar, wind, and battery alternatives, Zenith replaces traditional diesel and gas power sources, thereby assisting mining companies in significantly reducing their scope 1 emissions.

In August 2023, Zenith successfully secured an additional debt facility of A$320 million ($200m) to bolster its growth pipeline. This investment encompassed the development of key projects such as the 96MW Kathleen Valley Hybrid Power Station for Liontown Resources, the 88MW Bellevue Gold Hybrid Power Station, and a 53MW renewable retrofit of Zenith’s existing Jundee Power Station for Northern Star Resources.

The new tranche, structured as an accordion facility, attracted two new lenders—DBS Bank and Natixis—alongside increased commitments from existing lenders. This financing supplements Zenith’s existing A$440 million 5-year facility from late 2022, which was provided by Aware Super, ANZ, BNP Paribas, NAB, SMBC, and Westpac.

Azure Capital and KPMG Corporate Finance served as financial advisers to Zenith, while Allens provided legal advisory services. King & Wood Mallesons acted as legal adviser to the lenders. Zenith enjoys the support of Pacific Equity Partners, Foresight Group, and OPTrust.

Energy Transition Deal of the Year – Manufacturing

Project ceres.

The greenfield $4.179 billion Karratha Urea Plant is poised to be Australia’s first facility that will process natural gas into ammonia and produce nitrogen-based fertilizer urea.

Privately-owned chemical company Perdaman Industries, roped in Global Infrastructure Partners (GIP IV fund) with equity injection of $1.7 billion, attracting other key lenders to the project.

The borrower, Perdaman Chemicals & Fertilisers (Finance), achieved financial close in April 2023 for Project Ceres, which has been in development for over a decade. The project financing includes a senior term loan facility of $2.47 billion.

The 7-year mini-perm financing saw participation from 12 lenders including BNP Paribas, CBA, HSBC, ICBC, Intesa Sanpaolo, MUFG Bank, NAB, Santander, Societe Generale (SocGen), SMBC, Standard Chartered and Westpac.

Export Finance Australia and Northern Australia Infrastructure Facility also joined the financing with respective commitments of $179 million and $147 million.

The project will utilise low-carbon natural gas, sea-water cooled systems, and catalytic reforming, energy transition-enabling features. The project will also use technologies that deliver lower emissions than comparable peers, and is projected to deliver emission levels 80% below existing coal-fed counterparts. Perdaman is committed to making the urea plant net carbon zero by 2050.

Located in Western Australia, the project is slated for completion for 2027.

Urea from the plant will be purchased by Incitec Pivot under a 20-year take or pay offtake agreement. There is also a 20-year take or pay fixed price gas supply contract with Woodside Energy Group.

Project Ceres is the largest investment ever made in the Australian fertiliser industry and is set to substantially contribute to the food security of the country and the Asia Pacific region. The project found support from the central and state governments.

SocGen was debt financing adviser. White & Case represented the borrower while Allens was legal adviser to GIP. Ashurst was lender’s legal counsel.

Transport Deal of the Year – Airport

Project bamboo grove.

The Airport Authority Hong Kong (AAHK) is a frequent issuer in the market, but its $3 billion multi-tranche global offering in early 2023 surpassed expectations. The fundraising saw unexpected demand and also was the first US dollar offering globally by a corporate issuer that could price with an inverted credit yield curve.

The deal from the operator of the Hong Kong International Airport was announced days ahead of further relaxation of travel rules between Hong Kong and mainland China, piquing investor interest as they expected more travelers to land in the city.

The airport has been securing money for its HK$141.5 billion ($18bn) Three-Runway System (3RS) and this offering was another attempt to mop up more funds for the project capex and general corporate purposes. The 3RS project includes 7 core projects and facilities, including a new runway and expansion of Terminal 2.

Global investors poured over $25 billion in orders for the 4-tranche deal that was priced on 5 January 2023 morning New York hours. Travel restrictions to Hong Kong were lifted from 8 January (2023) in a first such opening of borders since the Covid-19 pandemic.

The thinly priced offering was split into a $500 million 3-year tranche paying 4.875% coupon, priced 70bp over US Treasuries. The $1 billion 5-year green tranche pays 4.75% coupon and was priced 90bp over UST. The $700 million 7-year bonds pay 4.875% coupon and were priced 115bp over UST, while the $800 million 10-year notes pay 4.875% coupon and were priced 125bp spread over Treasuries.

Joint global coordinators, joint lead managers and bookrunners on the deal were - BofA Securities, HSBC, JP Morgan, Standard Chartered and UBS. The deal also saw participation from 19 other banks as joint leads including Barclays, Bank of China, Citigroup, DBS, Goldman Sachs and Morgan Stanley.

Transport Deal of the Year – Port

Geelong port.

Geelong Port, acquired by a consortium comprised of Stonepeak (70%) and Spirit Super (30%) on 26 April 2023, holds a pivotal position in Australia’s economy. This marks Stonepeak's inaugural foray into the Australian market, with the transaction valued at $793.4 million.

As Victoria's primary bulk port and the state's second largest, Geelong Port plays a key role in servicing the agricultural and fuel industries in the region. Handling approximately 12 million tons of cargo and accommodating over 600 vessels annually, the port is a cornerstone of trade activity.

The acquisition facilitates the efficient management of port facilities and supports the A$7 billion ($4.6 billion) worth of trade that traverses through it. Aligning with Stonepeak's infrastructure strategy, the asset's local significance underscores the commitment to fostering long-term growth and creating opportunities for the community and industries in the region.

The acquisition was fully financed through an A$560 million ($370.2 million) facility, with MLAs MUFG, SMBC, and Westpac providing the loan. Gresham and Partners, King & Wood Mallesons, and Clayton Utz acted as advisers to the consortium.

The facility, oversubscribed by 1.4 times, was swiftly delivered within 2 – 3 weeks, utilizing a tailored underwrite and interest rate swap to accommodate the sponsor’s accelerated timetable in Q4 2022. Notably, this arrangement was executed for an asset previously banked by MUFG.

Telecoms Deal of the Year

Dito telecommunity.

Dito Telecommunity secured a $3.9 billion-equivalent facility on 7 November 2023, to roll out 4G/5G telecommunication networks as part of a $5 billion-equivalent project to improve the telecom sector in the Philippines.

The facility is the largest project financed telecoms project to be developed in Asia in recent years and will boost Dito’s presence in the Philippines market. Dito is the third and newest telecoms carrier in the Philippines, and the rollout of this project allows them to disrupt the longstanding duopoly of Globe Telecom and PLDT, making the sector more competitive and accessible.

The long-term 15-year financing is one of the most innovative telecoms project financings to come to market in Asia, with 10 lenders participating in the facility. Bank of China and ING led the syndication of the 2-tranche facility, which also saw the participation of Sinosure extending partial cover.

The long-term financing of Dito was a multi-jurisdictional transaction (China, Hong Kong, Philippines, and Singapore) based on a limited recourse project finance model that addressed project-specific issues like market risk, a large capex, operational rollout out, and currency mismatches.

Clifford Chance, Romulo Law Firm were international and local legal advisers to sponsors respectively, while Sherman & Sterling and Villaraza & Angangco advised the lenders. SMBC was the financial adviser to the lenders.

Digital Infrastructure Deal of the Year – Data Centre

Project gotham.

Project Gotham is the financing of an up to 120 MW hyperscale data centre in Jakarta, Indonesia, being developed by EQT-Infrastructure backed EdgeConnex (ECX).

A $403.8 million financing backed the transaction including a $313.8 million 7-year sustainability-linked loan (SLL), the first such transaction in Indonesia.

The loan provides for margin adjustments linked to 3 key performance indicators concerning the Power Usage Effectiveness of the data centres, the use of renewable electricity, and the achievement of safety goals. For instance, the SLL has lost time injury rate as one of the KPIs for the loan to ensure higher workplace safety standards.

The KPI and targets are aligned with EdgeConneX’s commitment of being carbon, water, and waste neutral by 2030 and power data centers with full renewable energy.

The financing, that includes a $90 million equity bridge, saw participation from ING, Natixis, MUFG Bank and SMBC when the deal was originally signed on 26 July 2023. Later in the year, more banks joined the deal in the secondary market.

Competitively priced and yet sought-after deal has paved the way for ECX to aggressively fund its other expansions in the region.

Digital Infrastructure Deal of the Year

Bluecurrent.

Vector and QIC Private Capital (QIC) closed in June 2023 the sale of a 50% interest in Vector’s New Zealand and Australian metering business (Vector Metering) to investment vehicles managed and advised by QIC.

Vector is a smart metering business providing digital electricity metering and data solutions to households and businesses across Australia and New Zealand.

A roughly A$1.6 billion ($1.06bn)-equivalent dual-currency green loan backed the 5-year transaction, attracting 11 lenders. They are - Bank of China, Canadian Imperial Bank of Commerce, CBA, China Construction Bank, ICBC, KEB Hana, MUFG (joint sustainability coordinator or JSC), NAB (JSC), Société Générale, SMBC and Westpac (JSC).

The loan has 6 tranches including term loans, capex expenditure facilities and revolving credit facilities. The loan offered margins of 195bp over BKBM for New Zealand Dollars and BBSY for Australian Dollars.

The deal was the first use of proceeds certification globally under the new Climate Bonds Standard Version 4.0. It was also one the largest Climate Bonds certified green bank loans aligned with Climate Bonds' Electric Grids and Storage eligibility criteria. DNV provided verification.

For Vector, Citi and Barrenjoey was the financial adviser while Chapman Tripp and Harmos Horton Lusk, King & Wood Mallesons acted on the legal side.

Deal of the Year – Manufacturing

Jindal steel odisha.

Indian billionaire Naveen Jindal-controlled Jindal Steel & Power’s subsidiary Jindal Steel Odisha is setting up a Rs224.68 billion ($2.7bn) 6MTPA greenfield plant in eastern India, to help the country to expand its hot rolled coil (HRC) capacities failing which India can become a net importer of the product in the next 4 years.

Considering the peculiarities of the steel sector and the cyclical nature of steel and raw material prices, it was essential to obtain a longer tenor of loan so that the amortization can be synchronized with the project cash flows.

The Rs157.27 billion, or $1.89 billion-equivalent, debt financing is backed by a 17-year loan closed in August 2023 among 11 banks. State Bank of India was the anchor investor and its investment arm, SBI Capital Markets acted as the financial adviser.

The amortizing loan has a repayment of 13 years, with construction period is 3 years and moratorium period of 1 year from COD which is aimed on 1st April 2025.

There is also a corporate guarantee of 2 years subject to achievement of stipulated financial covenants to de-risk the promoter’s balance sheet.

The debt is tied-up as a rupee term loan facility (RTL) including one time capex letter of credit (local or offshore) of Rs100 billion as sublimit of RTL with option to avail buyers’ credit/ standby letter of credit.

The transaction is one of the biggest greenfield plants from the sector post-Covid. The new plant is being built at Angul in Odisha, and by 2030 the project will double the capacity to become the world’s largest integrated steel plant at a single location.

Mining Deal of the Year

Gold fields.

Gold Fields secured a A$500 million ($317m) sustainability-linked loan (SLL) with a A$100 million accordion, one of the first such facilities in the Australian mining industry and the first for a gold mining company in the country.

The 5-year facility followed the landmark $1.2 billion revolving credit facility announced by the seventh largest gold producer in the world in May 2023, which essentially refinanced a 2019 deal and was meant for projects outside APAC.

The SLL closed with a syndicate of 10 local and international lenders. CBA acted as the sole sustainability coordinator, mandated lead arranger, bookrunner and facility agent of the deal closed on 1 October 2023.

Under the facility agreement, Gold Fields will receive a margin adjustment based on its performance against sustainability-linked key performance indicators relating to increasing female representation in its global workforce, reducing carbon emissions and utilising more recycled water. The transaction sets a template for other borrowers to follow suit.

Clifford Chance advised CBA while Allens was the legal adviser to Gold Fields.

Renewable Energy Deal of the Year

Dragon sea project – hai long.

The iconic 1.022GW offshore wind project in Taiwan created history by achieving financial close against headwinds, re-instilling confidence in the industry that was overshadowed by a massive restructuring of the 640MW Yunlin wind farm.

The FC followed a N$117 billion-equivalent ($3.67bn) multi-currency debt financing that saw the backing from 16 lenders and 7 export credit agencies (ECAs). The deal ended up being the first offshore transaction from Taiwan to achieve FC post-Covid, first to be financed on the basis of a corporate power purchase agreement (CPPA).

The transaction also saw the greatest number of ECAs and the highest cover of over 80% seen in any of the offshore wind deals from Taiwan till date.

Located some 45km to 70km off the west coast of Changhua County in the Taiwan Strait, the $6.67 billion project also offered longest-dated financing for the sector with its 22 years tenor.

Code named Dragon Sea Project, Hai Long has 3 offshore farms – Hai Long 2A of 294MW , Hai Long 2B of 224MW and Hai Long 3 of 504MW .

Canada-based Northland Power and Mitsui & Co back the project originally with the Japanese firm joining the deal in 2018. Subsequently, Gentari International Renewables, the subsidiary of Malaysia’s state-owned oil major Petronas, has acquired 49% of Northland’s 60% ownership in the project.

Clifford Chance was legal adviser to lenders and ECAs, while Linklaters advised the borrowers. MUFG was the financial adviser for finance and development, among other advisers and participated at different stages of the project.

Renewable Energy Deal of the Year – Onshore Wind

Project monsoon.

The 600MW project is the first wind power project in Lao PDR, also the largest such project in Southeast Asia, and the first cross-border power project in the entire Asia.

The pioneering and complex transaction, that achieved financial close in March 2023, demonstrated that intermittent wind can be exported.

The project will export electricity from Laos to Vietnam consists of 133 Envision wind turbines and will connect to the Vietnam Electric (EVN) grid via a 22 km 500kv transmission line to the border with Vietnam.

EVN is responsible for building the transmission line on the Vietnam side of the border where the project will connect to the 500kv backbone of the Vietnam grid at the Thanh My substation.

The complexity of the Monsoon Project is due to Laos country risk and Vietnam’s curtailment risk in the PPA that was well handled by the ADB, the sole MLA and bookrunner that arranged, structured and syndicated the $692.55 million non-recourse financing backing the project.

The ADB deal team ensured that the Monsoon project’s financing benefited from highly creative and tailored financial structuring , as well as a broad coalition of lenders.

Specifically, ADB mobilized a $60 million concessional finance package to reduce the risk of default if the project’s cashflow is impacted by curtailment events. The loans and grant will provide a debt service buffer during the operational life of the project and an additional cash reserve account that can be drawn in the event of any extreme curtailment event.

The Impact Electron Siam-led consortium’s project has shown that it is possible to structure a bankable cross-border wind financing of significant scale and complexity, creating a template to follow for future deals of its kind.

Monsoon is on a 1.1-1.5km elevated plateau in Sekong and Attapeu provinces, along the highway connecting Ubon Ratchatani, Thailand, to Danang, Vietnam.

Renewable Energy of the Year – RTC

The Renew RTC project is a groundbreaking initiative in the realm of renewable energy, integrating onshore wind, solar, and battery energy storage systems across three Indian states to achieve reliable energy generation. With a total installed capacity of 1.3GW, it stands as India's pioneering venture in this domain, featuring the largest Power Factor facility for a single energy project.

Backed by a leading global renewable energy firm, this project effectively addresses intermittency issues to ensure a continuous power supply. However, assembling the project posed considerable challenges, requiring meticulous navigation of regulatory requirements and optimal capacity mapping while maintaining competitive tariffs. Renew holds a majority stake of 51%, with Mitsui holding the remaining 40% shareholding.

The project encompasses 900MW of wind capacity and 400MW of solar capacity, complemented by 100MWph batteries distributed across Karnataka, Maharashtra, and Rajasthan. Its financing, totaling $985 million over a 5-year mini-perm arrangement from 12 international banks, enabled the $1.36 billion project to achieve financial close in February 2023.

Overcoming a myriad of challenges ranging from technical complexities to project configuration, securing timely land and transmission approvals, and navigating the EPC process to mitigate risks amidst a rising interest rate environment, underscores the project's resilience and ingenuity.

Renewable Energy Deal of the Year – Biomass

Sael biomass energy project.

  The project entails the construction of five 14.9MW biomass power plants, collectively generating 74.5MW, across five districts in Rajasthan, India. These plants utilize agricultural residue as feedstock, addressing the prevalent issue of air pollution stemming from the burning of agricultural residue in north India.

Given the dominance of agriculture in the Indian economy, a significant amount of agricultural residue is traditionally burned on-farm to prepare fields for the next crop, exacerbating air pollution levels. SAEL's initiative aims to alleviate this issue by harnessing agricultural residue, specifically mustard stalk, groundnut husk, and paddy straw sourced from local farmers, to generate electricity.

This project not only contributes to India's energy transition but also brings about societal benefits.

In March 2023, Asian Development Bank (ADB) provided a Rs7.54 billion ($91m) 12-year local currency financing covering entire debt funding needs for the 5 biomass power projects , and mobilized private sector insurance companies through risk participation since they cannot provide rupee loans even if they have risk appetite.

Through negotiations with SAEL to ensure the project's bankability, including its contractual structure, ADB has played a crucial role in making the transaction viable. With the backing of this multilateral institution, the project is expected to attract more investors to similar sustainable initiatives in the future.

Renewable Energy Deal of the Year – Waste-to-Energy

China tianying – vietnam.

China Tianying's over $300 million waste-to-energy (WtE) plant in Vietnam stands as the country's largest facility of its kind, having recently secured new financing in early 2023.

The $200 million 3-year financing, led by Deutsche Bank and inclusive of a $60 million greenshoe, signifies a shift in commercial lenders' appetite for such assets , replacing an earlier ECA-backed financing.

Structured as a limited recourse transaction with credit enhancements, the syndicated loan saw participation from Ping An Bank Co, HSBC, Bank SinoPac Co, Cathay United Bank, Shanghai Pudong Development Bank, and the Bank of East Asia, in addition to Deutsche Bank.

Backed by a direct guarantee from the Chinese parent, the PF loan provides limited recourse. The Vietnam subsidiary, Ha Noi Thien Y Environmental Energy Joint Stock Company, operates the 4,000-tonne Soc Son municipal solid waste (MSW) plant at Nam Son Waste Treatment Complex, located in the Soc Soc district of Hanoi City.

Construction commenced in August 2019 for this facility, now one of the largest WTE projects in the country, boasting a power generation capacity of 75MW. Serving up to 70% of Hanoi municipality's waste treatment needs, the project has garnered legal advisory support from Allen & Overy for the lenders and Freshfields Bruckhaus Deringer for the sponsors, with AFRY providing technical expertise.

Renewable Energy Deal of the Year – BESS

Hyogo project.

  The Hyogo BESS project is the first lithium battery project of Japan’s biggest petroleum producer Idemitsu Kosan, and the first BESS project to receive project financing in Japan.

With a capacity of 15MW/48MWh, it marks the latest step in the development of the BESS market in Japan. The project is being developed on land owned by Idemitsu Kosan, on the site of one of its former refineries, and will help the oil company as well as the country in achieving its energy transition goals.

It is the first battery project to receive non-recourse project financing in Japan and will play a key role in stabilizing Japan’s grid network in preparation for future renewables projects. The project will also allow for greater flexibility and efficiency in the existing network by reducing the risk posed by fluctuations/intermittency caused by operating renewable energy sources.

The project is being developed by a JV, Himeji Energy Storage Facility, which is jointly owned by Idemitsu Kosan, Renova, Nagase, and Sumitomo Mitsui Finance and Leasing Corp subsidiary SMFL Mirai Partners. SMFL Mirai Partners were the sole lenders and lead arrangers on the facility. Nishimura & Asahi advised the sponsors.

Portfolio Financing Deal of the Year

Sherabad, jizzakh, samarkand solar pv portfolio.

Masdar’s this solar portfolio in Uzbekistan comprises 3 photovoltaic projects being developed at Samarkand (220MW), Jizzakh (220MW), and Sherabad (457MW). The Abu-Dhabi headquartered company closed these deals towards the end of 2023.

The transactions are structured as public-private partnerships and backed by several DFIs and multilateral lenders.

With a total cost of $839 million, the projects were structured with the assistance of the International Finance Corporation (IFC), resulting in some of the most competitive tariffs in the region. Masdar's solar portfolio is a critical component of Uzbekistan's energy transition strategy, aiming to deploy 30GW of renewable energy and connect it to the grid by 2030.

Awarded through a competitive international tender run by the government and structured by the IFC as part of their Scaling Solar 2 initiative, these projects will generate enough energy to power over 1 million households while offsetting more than 1 million tons of CO2 emissions.

Further, under the 30-year power purchase agreement (PPA) with state-owned utility National Electric Grid of Uzbekistan, these projects will enhance the country's energy security, affordability, and sustainability. Masdar has also committed to a gender action plan to facilitate job opportunities for women on the projects, thereby increasing their participation in Uzbekistan's renewable energy sector.

Financed by the Asian Development Bank (ADB) and co-financed by the European Bank for Reconstruction and Development (EBRD), Asian Infrastructure Investment Bank (AIIB), European Investment Bank (EIB), as well as FMO and ILX. The projects received advisory support from a consortium of firms including Clifford Chance, Mazars, Cranmore Partners, White and Case, Suntrace, Centil Law, Synergy Consulting, Norton Rose Fullbright, WSP, and BNY Mellon as the inter-creditor.

  Renewable Energy Deal of the Year – Offshore Wind

The Jeonnam I offshore wind farm marks a significant milestone as the first internationally non-recourse financed offshore wind project in Korea. Despite its modest 99MW capacity, the project required an investment of approximately $550 million-equivalent in Korean Won. Financial close on the $480 million-equivalent facility was achieved on 31 January 2023.

The project ownership falls under a 51:49 JV between Korea’s SK E&S and Denmark’s Copenhagen Infrastructure Partners. It is the first to be awarded a 20-year offtake agreement under the country’s fixed price auctions, introduced in 2022, and may become one of the first commercial-scale offshore wind farms commissioned in Korea.

The farm found funding under challenging conditions caused by the sudden shift from bi-lateral offtake negotiations to fixed-price auctions, necessitating the negotiation and signing of the facility with the lenders within 2-3 months following the award of the offtake agreement.

The offshore project also extends robust support to nearby residents through the allocation of funds from a designated tranche (referred to as the resident participation tranche), facilitating local ownership in the venture.

It also catalyzed the establishment of a sustainable local supply chain for offshore wind development, poised to benefit future projects spearheaded by international developers. Remarkably, this initiative marked the first instance of a multi-EPC contract structure in Korea.

Korean Development Bank and Credit Agricole acted on behalf of developers and served as principal lead arrangers for the four-tranche facility, attracting participation from a diverse range of international lenders and Korean asset managers. White & Case LLP and Kim & Chang advised the sponsors, while Linklaters LLP and Lee & Ko counselled the lenders in navigating the complexities of the project.

Power Deal of the Year – Gas-fired

Unique meghnaghat.

The Unique Meghnaghat combined cycle gas turbine stands out as one of Bangladesh's largest privately developed and operated gas-fired power projects, having garnered financing from a mix of international banks, development finance institutions, and local lenders. With a project cost totaling $620 million, it successfully reached financial closure in December 2023.

This project is spearheaded by Bangladeshi firms Unique Hotels & Resorts and Strategic Finance Limited, with the notable addition of Qatar-headquartered Nebras Power in 2021. It marks the Bangladeshi developers' maiden venture into the energy sector and serves as Nebras' inaugural entry into the country's market.

Despite facing numerous construction challenges exacerbated by the COVID-19 pandemic, the project overcame hurdles to secure financing, navigating through tough market conditions in Bangladesh, including foreign currency shortages in 2022.

Notably, a refinancing arrangement was successfully negotiated with initially hesitant local lenders to address short-term financing needs. The construction phase was underwritten by local banks through letters of credit, while international lenders facilitated appropriate Taka and dollar financing to ensure repayment as part of the initial disbursement.

The $483 million multi-sourced, four-tranche facility was financed by entities such as Standard Chartered Bank, Asian Infrastructure Investment Bank, Deutsche Investitions-und Entwicklungsgesellschaft, and the OPEC Fund for International Development.

Cover for the facility was provided by ECA Swiss Export Risk Insurance, with legal counsel provided by Clifford Chance and Ashurst for the lenders and borrowers, respectively.

Power Deal of the Year – Hybrid

Project helix.

Keppel’s 600MW Sakra combined cycle power plant is the first hydrogen-ready power plant in Singapore. The S$750 million ($566m) project achieved financial close on 31 March 2023, representing a material transition to a more sustainable power generation solution for Singapore. The project will play a key role in bridging the energy needs and the energy transition ambitions of the nation.

The project is owned under a 70:30 joint venture by Keppel Asia Infrastructure Fund and Keppel Energy. It can operate on 30% hydrogen on commissioning in 2026 and will be capable of eventually running on 100% hydrogen. The Sakra Cogen Plant will be the most energy-efficient among Keppel’s operating fleet in Singapore, featuring superior power generation capabilities, lower emission intensity, and higher operation flexibility.

Operating initially on natural gas as a primary fuel, the plant will be able to save up to 220,000 tons per year of CO2 as compared to Singapore’s average operating efficiency for equivalent power generated. The steam generated by the plant will also be utilized by local off-takers on Jurong Island to power other energy and chemical plants.

A S$620 million, 10-year facility was financed by SMBC, DBS, and Credit Agricole Group.

PPP Deal of the Year – Power

Syrdarya ii.

The 1.58GW Syrdarya II combined cycle gas-fired power project in Uzbekistan is the first thermal power plant awarded as a PPP in Uzbekistan and underwent a competitive bidding process structured by the IFC. The greenfield project cost a little over $1 billion.

The project was awarded to an international consortium of Electricite de France International, Sojitz Corp, Nebras Power, and Kyuden International Corp. It will play a critical role in the expansion of Uzbekistan’s power sector, which will improve energy efficiency and reduce the country’s emissions/environmental impact. The project will contribute towards the modernization of Uzbekistan’s CCGT plants, accounting for 82% of its energy generation capability, of which 40% are in dire need of retrofit and upgradation works.

The $805.7 million, 3-tranche, 23-year facility was the first in Asia wherein JBIC and the IFC both provided financing and featured the participation of commercial banks in Uzbekistan. It is also the first deal in Asia co-financed by both the IFC and NEXI. The challenge posed by Uzbekistan’s lower credit score (BB- as per S&P) was addressed with NEXI’s coverage of the commercial tranche.

SMBC, Societe Generale and Mizuho bank provided loans with NEXI coverage, with the IFC providing direct loans and Hedges. JBIC provide a fixed rate loan and another floating rate loan. Advisers to the lenders were Ashurst LLP, Lummus Consultants (technical), Marsh (insurance) and Mazars. Synergy Consulting, Norton Rose Fulbright, and AON advised the sponsors. The IFC and Hogen Lovells advised the sovereign.

PPP Deal of the Year – Social Infrastructure

Nz schools ii ppp.

In March 2023, Morison secured a NZ$284 million ($175m) green loan facility to refinance debts associated with its 25-year New Zealand Schools II public-private partnership. Completed in 2018, the project currently serves over 5,000 students and encompasses the design, construction, financing, and maintenance of four schools located in Queenstown, Auckland, and Christchurch.

A notable aspect of this transaction is its emphasis on sustainability and adherence to environmental, social, and governance (ESG) principles. The loan was accredited based on various environmental factors, such as the construction of green buildings, emphasis on energy efficiency, waste and water management, and promotion of clean transportation through cycleways and pedestrian projects. Social factors, including access to essential services, were also considered.

The refinancing facility will address debts incurred in 2021, featuring a three-year term and backing from the Commonwealth Bank of Australia and the China Construction Bank. Beyond refinancing previous debts, the facility will facilitate the expansion of two schools within the portfolio. Notably, the loan will finance the expansion of Rolleston College in Christchurch to accommodate an additional 700 students.

Refinance Deal of the Year – Airport

Perth airport.

Perth Airport operates under a 99-year lease from the Commonwealth Government and stands as the primary airport facility facilitating scheduled domestic and international air travel in and out of Perth. It proudly holds the distinction of being the fourth largest airport in Australia by passenger traffic.

In July 2023, Perth Airport successfully executed a comprehensive refinance of its bank debt, attracting the participation of 12 lenders . The facility was divided into A$400 million ($265m) 3-year, A$400 million 4.5-year, and A$300 million 6.5-year revolving credit facilities.

Among the prominent lenders were National Australia Bank, SMBC, and Westpac, underscoring the confidence in the airport's recovery as passenger traffic rebounded to pre-Covid levels.

With an ambitious capital expenditure program on the horizon, including the development of a new terminal and the potential construction of a Third Runway, Perth Airport anticipates the need for continued capital and support in the future. The revolving credit facilities serve as a robust platform for the airport to pursue its growth initiatives.

The sponsors of the airport include Utilities Trust of Australia, The Infrastructure Fund, Australia Retirement Trust, and other entities committed to the long-term success and development of the airport.

Refinance Deal of the Year – Data Centre

Project lightsaber.

AirTrunk, an Australia-based hyperscale-focused data centre operator, secured an approximately A$4.6 billion financing across Australian, Singaporean, and Hong Kong dollars. Dubbed Project Lightsaber, this multi-tranche facility closed in September 2023, aiming to refinance AirTrunk's A$2.6 billion debt due in 2025 while also allocating funds for new projects and meeting working capital requirements.

The transaction comprises a A$2.5 billion in loan with tenors of 4, 5, and 7 years, a A$1.5 billion delay draw term loan with tenors of 4 and 5 years, a A$230 million capex revolving credit facility (RCF) with a 5-year term, and a A$350 million RCF with a 5-year term.

Credit Agricole, alongside Deutsche Bank and HSBC, served as one of the seven mandated lead arrangers, bookrunners, and underwriters, with joint responsibility for sustainability structuring advisory. The financing attracted significant interest, with participation from 16 existing lenders and 23 new banks, resulting in over 2 times oversubscription.

This transaction stands out as the largest in Asia among data centre operators, featuring several noteworthy achievements. It marks the first globally to incorporate all three-grid metrics—carbon, water usage and power usage effectiveness —in a sustainability-linked loan (SLL), ensuring the highest level of environmental transparency and accountability for a data operator.

The deal also introduced five key performance indicators aligned with AirTrunk's broader sustainability strategy, focusing on energy, water, and carbon efficiency, gender pay equity, and gender diversity.

Since April 2020, Macquarie Asset Management and the Canadian pension fund PSP Investments collectively hold an 88% stake in AirTrunk, solidifying its ownership structure.

Refinance Deal of the Year – Renewables Portfolio

Tilt renewables.

Tilt Renewables is one of the largest owners of wind and solar farms in Australia, with portfolio of 1.3GW of operating assets, 0.4GW under construction and another 3GW in the development pipeline.

In June 2023, the developer closed a 5-year refinancing of A$1.516 billion ($1bn) of portfolio assets including 1 solar farm of 157MW and 7 operating wind farms of 1.156MW capacity, spread across 4 Australian states.

The refinancing comprises of 2 revolving credit facilities and 2 working capital facilities and attracted 18 lenders including ANZ, BNP Paribas, Bank of China, Credit Agricole CIB, CBA, China Construction Bank, DBS, HSBC, MUFG, ING, Mizuho, SMBC and UOB. Proceeds were for refinancing and also funding further expansion of the developer’s portfolio.

Given the size and a portfolio spread across Australia, the transaction was not that easy sell but on the back of strong off-takers and sponsorship it attracted lenders to offer competitive terms. The company is a strategic partnership between AGL Energy, Future Fund and QIC.

Among advisers, Jacobs was on the technical side, DNV handled energy yield, EY tax, Baringa market and MLF while Aon was the insurance adviser.

Refinance Deal of the Year – Onshore Wind

Project typhoon.

Project Typhoon is a portfolio of 100 operational wind turbines totalling 230MW across west coast of Taiwan, making it one of the largest brownfield onshore wind portfolios in Taiwan.

A NT$5.272 billion ($163m) refinancing supported Macquarie Asset Management in its acquisition of a majority stake in these assets from InfraVest Asia, with German offshore wind developer wpd maintaining a minority stake .

The acquisition encompassed 5 onshore wind farms – Luwei Wind Power (WP), Chungwei WP, Tongwei WP, Chinfeng WP and Anwei WP.

The transaction entails debt refinancing for 3 separate project finance facilities. The assets are backed by long-term corporate PPAs signed with TSMC, but they also benefit from the back-stop PPA regime with state-owned Taipower, a structure which we saw getting adopted in Hai Long’s financial close too.

For this acquisition , Macquarie used Macquarie GIG Renewable Energy Fund 2( MGREF 2 ) its flagship unlisted global renewable 25 years closed-ended fund.

Credit Agricole CIB, CTBC Bank, SMBC and Taipei Fubon Commercial Bank were the 4 mandated lead arrangers to the refinancing.

Wrap of the Year

Infrazamin pakistan.

InfraZamin Pakistan, in partnership with Kashf Foundation, launched South Asia and Pakistan’s inaugural $8.8 million-equivalent gender bond, aimed at fostering greater financial empowerment and economic opportunities for women. The bond received a long-term AAA rating from PACRA and garnered subscriptions from over 30 institutional investors.

Fully credit-wrapped by InfraZamin, safeguarding 100% of the principle, the bond attracted a diverse array of investors, including mutual funds, pension funds, and insurance entities.

The proceeds from the bond will bolster the balance sheet of the issuer, Kashf Foundation, facilitating commercial capital access for approximately 30,000 women from low-income and rural households nationwide. This will empower them to pursue entrepreneurial ventures, rehabilitate flood-affected homes, and expand small businesses and public infrastructure, including schools.

The funds will be directed towards women-led micro-infrastructure projects, with 40% allocated to school expansion in rural/semi-rural areas, another 40% for the renovation and development of climate-resilient low-income housing, and the remaining 20% for the growth of small businesses through working capital and business expansion lending under Kashf’s Kamyab Karobar scheme.

InfraZamin spearheaded this transaction, serving as guarantor to enhance the credit ratings of Kashf Foundation. PACRA provided the rating, while Arif Habib Limited acted as the arranger and advisor. InfraZamin also received backing from its owners, the Private Infrastructure Development Group, for this initiative.

Innovation Deal of the Year – Bonds

Bayfront infrastructure.

  Bayfront Infrastructure Management, a platform backed by Singapore’s sovereign wealth fund Temasek, has been at the forefront of creating a market for securitization of project and infrastructure debt.

In September 2023, the platform sold about $410.3 million of asset-backed securities to global investors in its fourth such issuance since 2018 when Bayfront became the first issuer in the region to print a transaction through a collatorised loan obligation structure.

The transaction saw many firsts, attracting oversubscription from investors including Apollo FGlobal Management and the UK’s Foreign Commonwealth & Development Office (FCDO). Overall, the transaction attracted about $700 million in orders, representing over 1.9 times oversubscription for $371.7 million of rated notes.

BIC Infrastructure Capital IV (BIC IV) is the issuer of the 5-tranche deal spread across 40 individual loans/bonds from 33 projects spread over 15 countries (including Africa and Middle East) and 10 industry sub-sectors.

Among the tranches, the $115m class A1-SU notes is the sustainability tranche. Apart from these assets backed-securities tranches, Bayfront, the sponsor, acquired 20.6 million preference shares (5% of the capital structure) prior to the issue date to hold them until maturity.

As part of its Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) programme, the UK’s FCDO also committed an anchor investment of up to $20.4 million in the pref shares, receiving a final allocation of $5 million or equivalent to 5 million shares.

The $13 million class D notes benefitted from a guarantee from GuarantCo for the principal and interest amounts. All the class D notes are purchased by funds managed by Apollo Global.

Citi was the left-lead on the deal that saw other joint lead managers and bookrunners including Standard Chartered Bank, ING, OCBC, Societe Generale and SMBC Nikko.

Innovation Deal of the Year – Partial Guarantee

Pran Agro, a Bangladeshi agro-processing company, issued a T2.6 billion ($24m) bond, backed by a partial credit guarantee from GuarantCo.

Proceeds of the 8-year bonds will fuel Agro's infrastructure expansion plans, particularly aimed at augmenting its agro-processing capacity to meet escalating product demand and enhance export potential. The funds will be allocated towards expanding factories and procuring machinery to boost production.

This transaction holds significant societal benefits, envisaging around 240 new contract farmers with a steady income source and creating approximately 330 jobs, with 60% earmarked for women. It lays the groundwork for future partial guarantee initiatives, fostering increased female employment in the food production and agricultural sector, alongside elevated levels of training and education.

This deal also marks Guarantor's second collaboration with Pran Agro, showcasing its proactive approach in aligning stakeholders and achieving transaction objectives. The bond stands out as Bangladesh's maiden partially guaranteed issuance and marks the country's first 8-year fixed-price bond issuance.

The significance of this milestone amplifies given the nascent state of Bangladesh's bond market, characterized by regulatory complexities and limited long-term liquidity. Addressing these challenges, especially the scarcity of long-term financing options, presents a notable advancement, given most previous bonds were issued for 5-6 years.

MetLife Bangladesh emerged as the sole investor in the bond issuance, with Riverstone Capital serving as the issue manager and Green Delta Capital as the trustee. The transaction banks involved were Eastern Bank PLC and Pubali Bank.

  Sustainability-Linked Loan – Data Centres

Sel 2 financing.

Stonepeak-backed Digital Edge made its debut in the South Korean data center market with its inaugural green loan, earmarked for financing phase 1 of up to 100MW project.

Situated in Seoul, the facility, known as SEL2, stands as the largest commercial colocation center in South Korea to date. A W440 billion ($335m) 5-year financing, comprising fixed and floating-rate tranches, was orchestrated by Credit Agricole and ING Bank, with participation from five additional lenders.

The company's new data center aims to achieve an annualized design Power Usage Effectiveness of 1.27, well below the global industry average of 1.55. Leveraging Bloom Energy fuel cell technology, the facility seeks to reduce greenhouse gas emissions and enhance electricity generation reliability, powering the general lighting and energy needs of the data center's shell and core.

Additionally, Digital Edge plans to employ efficient engineering design to minimize water and energy consumption, aligning with its carbon-neutral objective by 2030.

The first phase is due to start operations by end of 2024.

  Oil & Gas Deal of the Year – Decarbonisation

Rdmp balikpapan.

Indonesian oil and gas giant Pertamina secured a substantial $3.1 billion financing package to facilitate the expansion of its refinery situated on Borneo Island in East Kalimantan in September 2023.

This expansion forms a pivotal component of the government's broader $17 billion national strategic refinery development master plan (RDMP), aimed at modernizing five key refineries in alignment with Indonesia's energy transition roadmap towards achieving a net-zero target by 2060.

Under a joint study agreement, Pertamina is partnering with Air Liquide to implement cutting-edge carbon capture and utilization technologies within the $6 billion Balikpapan refinery. This refinery's expansion is scheduled to commence operations on October 1, 2025.

Upon completion, this state-backed refinery will witness a significant capacity increase from 260,000 barrels per day (bpd) to 360,000 bpd. Kilang Pertamina Internasional, Pertamina's refinery unit, serves as the borrower for this ambitious endeavor.

Given the project's magnitude and importance, the transaction, spanning a duration of 13.7 years, garnered participation from 22 lenders, including renowned institutions such as Credit Agricole CIB, Societe Generale, Banco Santander, Standard Chartered, Deutsche Bank, SMBC, HSBC, and Bank of China.

Mizuho Bank provided financial advisory services. The deal also attracted export credit agencies (ECAs) from Italy, South Korea, and the US, offering support through ECAs-backed and direct loans.

Oil & Gas Deal of the Year  –  Downstream

Hpcl rajasthan refinery.

HPCL Rajasthan Refinery (HRRL) – a 74/26 JV between state-owned refiner HPCL and the Rajasthan government – achieved financial close on its Rs729.37 billion ($8.8bn) greenfield refinery and petrochemical complex facility in northwestern India.

One of the largest such transactions in the country, the Rs486.25 billion-equivalent ($599m) debt facility backing the 9MMTPA refinery was signed on 4 July 2023 among 10 lenders including State Bank of India.

Situated at Barmer district of Rajasthan, about 100km from Jodhpur the refinery and petrochemical complex is situated over 4600 acres of land. Central government owned HPCL will be the sole offtaker and would be responsible for marketing both the petroleum and petchem products.

Considering the variable nature of the cash flows in the refining and petrochemical projects, it was essential to obtain a long-dated loan so that the amortization can be synchronized with the cash flows from the project.

The financial advisor, SBI Capital Markets, worked towards this goal to help the borrower obtain a 25-year rupee loan and a 15-year offshore facility.

The debt includes a $140 million commitment, or Rs10.03 billion equivalent, from IIFC (UK).

This US dollar portion matures on 30 September 2033 while the rest of Rs476.22 billion facility matures on 30 September 2043, one of the longest tenor commercial loan in India.

Construction of the complex started before 2019, with COD aimed at 1 July 2024.

Oil & Gas Deal of the Year – LNG Terminal

Hk offshore lng terminal project.

The Hong Kong offshore LNG terminal project marks a groundbreaking milestone as the first deployment of a floating storage regasification unit (FSRU) in Hong Kong. This $1 billion initiative, finalized on July 3, 2023, stands out not only for its substantial scale but also for the impressive LNG storage capacity of its FSRU, totaling 263,000 cubic meters.

Named Bauhinia Spirit, the offshore LNG terminal situated in the south-western waters of Hong Kong represents a pioneering endeavor in the territory. Upon commissioning, it claimed the title of the world's largest FSRU vessel.

This project holds strategic significance, as it grants power companies in Hong Kong direct access to international LNG markets, offering an alternative fuel source to meet escalating demand. It plays a vital role in Hong Kong's initiative to enhance the share of natural gas in the city's power generation, thereby reducing carbon emissions intensity.

Despite facing numerous challenges, including adverse weather conditions, pandemic-related restrictions, and design complexities, the construction of the FSRU was successfully executed. The project necessitated meticulous agreement drafting to align with downstream arrangements, given the vessel's substantial size.

Mayer Brown provided advisory services to the project company, Hong Kong LNG Terminal, whose shareholders include Castle Peak Power Company and The Hongkong Electric Company.

Shell's subsidiary, Shell Eastern Trading, plays a pivotal role by supplying LNG to the terminal from its global portfolio, ensuring the project's operational success and contributing to Hong Kong's energy sustainability goals.

Oil & Gas Deal of the Year – Petchem

Line project.

In April 2023, Lotte Chemical Corp successfully closed a $2.4 billion equivalent financing for its Lotte Chemical Indonesia New Ethylene Project (LINE project) located in the Banten province. This project, jointly developed with Lotte subsidiary Lotte Chemical Titan Holding, in which the latter holds a 51% ownership stake, commenced construction in Q1 of 2022 and is slated for commercial production by 2025.

The LINE project carries significant implications for Indonesia's economic development, bolstering domestic naphtha production capabilities and improving the country's balance of trade. With Indonesia currently reliant on neighboring countries for 50% of its petrochemical imports due to insufficient domestic production, the project promises to enhance self-sufficiency and reduce dependency.

Comprising four key production units, including the naphtha cracking center, Butadiene plant, BTX (Benzene toluene and xylenes) plant, and Polypropylene plant, the project boasts impressive capacities tailored to meet market demands.

Noteworthy is the financing structure of the project, marked by a 12-year door-to-door facility—a rare instance of a corporate loan transaction backed by Korean ECAs, namely Korea Trade Insurance Corp and the Export-Import Bank of Korea, with comprehensive 100% coverage. Standard Chartered served as the structuring and ECA coordinating bank, alongside Mizuho as the other coordinating bank. Additionally, 10 commercial lenders participated in the transaction, extending credit across two of the three tranches of the facility.

Legal counsel for the project was provided by White and Case for the sponsors, with Witara Cakra Advocates serving as Indonesia's local counsel to the SPV, Lotte Chemical Indonesia. Linklaters represented both local and international lenders, ensuring regulatory compliance and legal clarity throughout the transaction process.

Green Bond of the Year

Despite market volatility, REC Limited, formerly known as Rural Electrification Corp, demonstrated resilience by successfully launching a $750 million green bond offering with remarkable outcomes.

After conducting global roadshows in late February, the state-owned issuer seized the opportune market window and launched the offering in April 2023.

Although the roadshows initially garnered promising demand, the transaction was delayed for a few days due to choppy market conditions caused by the collapse of some lending institutions and the bailout of others. Eventually, the deal was launched with an initial price guidance of 250 basis points over 5-year US Treasuries. As orderbooks swelled, surpassing $3 billion during Asia market hours, the pricing tightened to 212.5 basis points over UST.

The overwhelming response not only resulted in a minimal 7.5 basis point new issue concession on the notes but also allowed REC to upsize the offering to $750 million. This offering marked the first non-bank trade from India since March 2022 and stood as the largest-ever senior dollar offering by an Indian non-banking finance company. Moreover, it represented the biggest senior green bond offering by a South Asian and Southeast Asian issuer.

Barclays, DBS Bank, MUFG, Standard Chartered, and State Bank of India's London branch jointly led the green offering, underscoring the collaborative efforts of key financial institutions in facilitating REC's successful foray into the green bond market.

ESG Deal of the Year

Indonesia samurai blue bonds.

Indonesia is actively pursuing its energy transition agenda to reduce coal dependence and achieve its net-zero objectives. As part of its strategy to align with the Sustainable Development Goals (SDGs), the country has initiated the issuance of blue bonds.

In May 2023, Indonesia issued approximately $150 million-equivalent in JPY bonds across four tranches. Notably, two of these tranches included a 7-year 1.20% blue tranche totaling ¥14.7 billion and a 10-year 1.43% blue tranche totaling ¥6 billion.

Daiwa Securities, Mitsubishi UFJ Morgan Stanley Securities, Mizuho Securities, and SMBC Nikko Securities served as joint bookrunners for the transaction, with Allen & Overy providing advisory services.

This milestone marked the first-ever blue bond issuance by an Asian sovereign in the Japanese bonds market and one of the few blue bonds issued by a sovereign globally. The success of the issuance sets a precedent for other archipelagic and island nations to follow suit and issue their own blue bonds.

Indonesia's debut blue bond sale builds upon its earlier achievements, including the maiden sale of SDG Eurobonds in 2021 and Green Sukuk in 2022, showcasing the country's commitment to sustainable finance and environmental stewardship.

Social Infrastructure Deal of the Year

Telangana super-specialty hospitals.

The Government of Telangana (GoT) is taking significant steps to enhance healthcare infrastructure in the state by establishing super-specialty hospitals in Warangal and Hyderabad. In January 2022, GoT established the Telangana Super-Specialty Hospitals Corporation Limited (TSSHCL) to realize this vision.

Despite Hyderabad's large population and high per capita income, access to government super-specialty hospitals remains limited, leading to heavy reliance on private healthcare facilities. TSSHCL aims to address this gap by constructing a green-field super-specialty hospital in Warangal and three others in Hyderabad.

The financing for these projects represents a groundbreaking development in India's public healthcare sector. For the first time, bank funding is being utilized for state-developed super-specialty hospitals, with SBI Capital Markets leading the transaction as a financial advisor and arranger.

The $478 million-equivalent 15-year loans, finalized in March 2023, were structured to align with project timelines and anticipated cash flows. To mitigate risks, a Rs4 billion standby loan facility was secured to cover potential cost overruns, backed by project assets and land valued at approximately Rs 19.41 billion.

The tranches included a Rs23.85-billion-rupee term loan (RTL) and a Rs3 billion letter of credit (LoC) commitment (as a sublimit of RTL).

Upon completion, these hospitals will more than double the bed capacity of public super-specialty hospitals, with a capital outlay of Rs61.47 billion. State-owned REC provided the funding, diversifying away from its core financing to the power sector due to the project's societal importance.

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