Standard Bank Group's natural resources expertise is awarded
5 April 2011
The investment banking capabilities of Standard Bank Group (SBG) as a leading natural resources bank have been acknowledged with two award wins from Trade Finance magazine.
Nord Stream (Phase 1) - Standard Bank Group was a top tier mandated lead arranger for a €5.2 billion project to build a 1 220km pipeline through the Baltic Sea, from Portovaya Bay in Russia to Greifswald in Germany.
Eurochem - Standard Bank Group was a joint mandated lead arranger and advanced US$55m to Eurochem for an export finance tranche of funding for the development of its Potash mine located in the Volgograd region in Russia. This deal was supported by the Export Credit Insurance Corporation of SouthAfrica.
These awards highlight to deals that highlight Standard Bank Group providing a full value chain of services across sectors, specifically oil and gas, and infrastructure and mining.
The winning transactions are:
Don Hultman, Head of the mining, energy and infrastructure finance team at Standard Bank Group, says: "The awards are testament to Standard Bank Group's extensive capabilities in the natural resources sector and showcase our experience inadvising clients on deals across sectors. For instance, we were able to add considerable insight with the Nord Stream deal, based on comprehensive knowledge of the infrastructure, and oil and gas sectors.
"Standard Bank Group's longstanding African footprint, expertise and heritage enables us to link our African clients to opportunities in other emerging markets. This was certainly the case with the Eurochem transaction, where we were able to jointly arrange export credit finance for one of our South African clients undertaking underground mining work for Eurochem's Russian potash project.
"We see this deal as a benchmark for future transactions that involve South African exporters of capital goods and services into Russia."