Standard Bank Group's project finance deals get top marks
10 February 2011
Standard Bank Group has won four accolades at Project Finance magazine's 2010 Deal of the Year Awards, recognising the bank's credentials in the sector and successes over the past year. The awards celebrate the best European and African deals.
Pulkovo - European Airport Deal of the Year
The awards are testament to Standard Bank's expertise in project finance in the specialist areas of oil and gas, and power and infrastructure, and highlight the group's ability to advise clients on significant cross border deals in both emerging and developed markets.
Standard Bank was Mandated Lead Arranger and Bookrunner for the B-loan financing related to the €1.2 billion project financing for the Pulkovo airport project in St. Petersburg, Russia. The financing is to refurbish the existing domestic passenger terminal and build a new central passenger terminal. It is Russia's first major public private partnership (PPP) funded by international commercial banks as well as being the first airport PPP in Russia.
Nordstream - European Midstream Oil & Gas Deal of the Year
Standard Bank was a top tier Mandated Lead Arranger and hedge provider for a € 5.2 billion project to build a 1,220 km pipeline through the Baltic Sea, from Portovaya Bay in Russia to GreifswaldGermany.
PA Resources - African Upstream Oil & Gas Deal of the Year
Standard Bank acted as Mandated Lead Arranger and Bookrunner to PA Resources for the 5-year US$250 million Medium Term Reserve Base Lending Facility to refinance an existing bridge and fund the remaining investments to complete the development of the Azurite Field in Congo (Brazzaville).
AccuGas - African Midstream Oil & Gas Deal of the Year
Stanbic IBTC acted as Joint Mandated Lead Arranger for the AccuGas Gas Pipeline Project, the first true project financing in Nigeria for an integrated downstream gas infrastructure network. AccuGas signed a US$60-million eight-year project finance facility with Stanbic IBTC Bank (a member of Standard Bank Group) and United Bank for Africa Plc to part finance the project. In its additional capacity as Structuring Bank and Global Co-ordinator on the transaction, Stanbic IBTC Bank also took on the roles of Financial Modeling Bank, Facility Agent and Documentation Bank.
Don Hultman, Head of the Mining, Energy & Infrastructure Finance, Standard Bank Group, says: "We are delighted to have won four awards at such a prestigious event. The awards are testament not only to Standard Bank's heritage but also to the bank's expertise in arranging deals across sectors and regions to service our clients' needs.
"As a leading institution with Africa at its core, we are uniquely placed with our considerable local and international knowledge and sector expertise in project finance, natural resources and foreign exchange to assist companies with the investment of capital, technology and skills across borders and help facilitate their economic growth."