Standard Bank Group wins accolades for three major deals
22 May 2014
Standard Bank Group, Africa's largest bank by assets and earnings, has been awarded a number of accolades in several regional categories at The Banker Magazine's annual Deals of the Year Awards 2014.
These awards recognise excellence for deals completed across Africa, taking into account the various categories for deal submissions.
One of the notable transactions for which The Banker magazine recognised Standard Bank, was its role in arranging Aspen Pharmacare's US$2,6-billion funding package. This involved structuring a deal which required the bank to underwrite, arrange and syndicate debt for subsidiaries of the Aspen Pharmacare Group.
Standard Bank Group was also recognised for the following deals:
- Best Islamic Finance Deal for Osun State, Nigeria
- Best Real Estate Deal for Orange Farm, Eyethu Mall, South Africa
- Best Restructure of Term Facilities for Polo Park Mall, South Africa.
Stanbic IBTC, a member of Standard Bank Group, in Nigeria acted as the joint issuer and bookrunner for the Islamic finance deal for the Osun State Government of Nigeria. This transaction was the first time a Sukuk bond was issued in West Africa and saw increased demand from institutional investors with the transaction increased from ₦10-billion (about US$61,87-million) to ₦11,4 billion (US$72-million). Stanbic IBTC was also involved in the restructuring of term finance for Polo Park Mall in Enugu State, Nigeria including overseeing the addition of equity into the deal.
The Eyethu Orange Farm Mall in South Africa represents a significant milestone in the development of non-metropolitan areas as it is the first mall of its kind in the Orange Farm area. Standard Bank Group provided debt structuring and debt finance, to the project.
"Winning these accolades across numerous categories is testament to Standard Bank's African capabilities and on the ground local expertise in the markets in which we operate," says David Munro, Chief Executive of Standard Bank Group's Corporate and Investment Banking division.
"Our distinctive African footprint has allowed us to gain strategic insights into the various African markets within which we operate, ensuring that we are uniquely placed to provide our clients with world class service."
Standard Bank Group continues to position itself as the leading bank on the continent through its operations in selected countries in Africa. By recently adding Cote d'Ivoire to its list of operations in Africa, Standard Bank Group is able to deliver a full range of corporate and investment banking services to clients across various emerging markets, having built strong in-country advisory capabilities. In total, Standard Bank Group now operates in 20 countries across Africa, including South Africa.
The Banker Magazine is the world's premier banking and finance resource aimed at senior bankers and world leaders. It is key source of data and analysis for the industry.
For further information on Standard Bank Group's Corporate and Investment Banking division go to www.standardbank.com/cib.