KUALA LUMPUR: Asean's mergers and acquisitions (M&A) market has grown more than 30 per cent to US$140 billion this year, with Citi involved in nearly US$20 billion of deals as regional companies pursue expansion and financing opportunities.
Malaysia remains an important part of the bank's regional operations, with Citi supporting major corporate funding deals.
This includes Maybank's US$700 million and US$600 million investment-grade bond issuances and Yinson Group's US$1.458 billion senior secured notes for its Agogo floating production, storage and offloading (FPSO) project.
Citi said its investment banking revenue across Asean rose 35 per cent year-on-year in 2026, supported by a surge in artificial intelligence (AI)-related financing and increased dealmaking.
Dealogic data showed equity and debt capital market issuance across the region also rose by a similar margin, exceeding US$180 billion year-to-date, the bank noted.
Citi helped regional clients raise close to US$25 billion from global capital markets this year through bond issuances, initial public offerings, convertible bonds and follow-on share sales.
The bank expects dealmaking to remain active in the final quarter, with several debt and equity financing transactions in its pipeline.
It also anticipates continued inbound and outbound M&A activity in technology, consumer goods and healthcare, driven by foreign investment into Asean and regional companies expanding overseas.
"Asean is one of Citi's key regions globally. It is home to a growing class of world-class corporates and emerging champions who are increasingly using capital markets at competitive levels to fund growth ambitions," said Matthew Nimtz, Citi head of investment banking for Asean.
He said regional companies were increasingly pursuing overseas expansion and turning to Citi's global network for strategic financing and advisory services.
Among Citi's major regional transactions this year was advising KKR and Singtel on their US$10.9 billion acquisition of ST Telemedia Global Data Centres.
It also advised Indonesia's Indosat on the establishment of data centre platform Zankore, including supporting equity and debt financing.
In Singapore, Citi led public equity transactions involving UI Boustead Reit, CapitaLand Integrated Commercial Trust and CapitaLand India Trust.
Its international bond transactions also included offerings for the Philippines, Indonesia's PLN and Thailand's Advanced Info Service.
Citi has operated in Malaysia since 1959 and employs nearly 4,000 people locally.
Its operations span corporate and commercial banking, treasury and trade, markets, investor services and transaction services, giving it a role in financing both Malaysian companies and cross-border regional activity.
© New Straits Times Press (M) Bhd