Standard Bank Group's debt capital markets expertise has been independently recognised, with the bank being awarded "Best Bond from Africa" by a leading financial publication.
Credit magazine, which provides insight on the global corporate bond markets to both sell-side and buy-side credit professionals, gave the award for Standard Bank Group's role as joint lead manager on the Republic of South Africa's US$2-billion, 10-year transaction.
The transaction was heavily oversubscribed, which saw the price tighten from its initial price guidance, and was the largest single US$ issuance by South Africa in the international bond market in its history.
This award reflects Standard Bank Group's depth of their expertise in emerging markets, and breadth of resources the bank has in South Africa and throughout Africa.
Commenting, Florian von Hartig, Global Head of Debt Capital Markets at Standard Bank Group, says: "We have an unrivalled number of people on the ground in Africa, which means we have a deep and intimate understanding of the needs of the investor community there, and are able to offer innovative and meaningful solutions as a result.
"This transaction was a hugely successful blow-out transaction for the Republic of South Africa, who are seasoned borrowers and who have tapped the market regularly since 1994. By actively engaging with key investors, the Lead Managers and the Issuer were able to help drive the deal price toward the tight end of guidance and achieve a coupon of 5.5 per cent, making this the sovereign's lowest coupon level. Ultimately this transaction will provide a valuable benchmark reference that will benefit other domestic borrowers looking at the off-shore markets for funding."
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