Standard Bank Wins Big At Banker Magazine ‘Deals of The Year’ Awards

Standard Bank Group, one of Africa’s largest banks, has won accolades from The Banker at the magazine’s annual Deals of the Year Awards 2014, with four notable deals across several regional categories.  “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,” said David Munro, Chief Executive of Standard Bank Corporate and Investment Banking.

According to him, the bank’s operations spanning across 19 African countries has enabled it to gain strategic insights into the markets within which it operates in the region. This, David said has placed the bank in a unique position to offer world class service to its customers.

The awards which recognize excellence for deals struck across Africa take into account the various categories for deal submissions.  Standard Bank Group was recognized for arranging the $2.6 billion package from Aspen Pharmacare, which involved structuring a deal requiring the bank to underwrite, arrange and syndicate debt for Aspen Pharmacare Group’s subsidiaries.

Other great deals struck by the bank were Islamic Finance Deal for Osun State, Nigeria, a transaction that signaled the first time a Sukuk bond was issued in West Africa.  Stanbic IBTC Bank Nigeria Limited, the Group’s subsidiary in the West African country brokered the deal, which saw institutional investors increase demand to $72 million from $61.87 million.  The Bank also won the Best Restructure of Term Facilities for Polo Park Mall in Enugu State, Nigeria and the Best Real Estate Deal for Orange Farm, Eyethu Mall, Guateng, South Africa.

The recognition by The Banker Magazine, the world’s premier banking and finance resource is an indication of Standard Bank’s commitment to provision of world class services to its customers and also show a resolve to remain one of Africa’s largest and best banks.  The bank recently added Ivory Coast to its list of operations in Africa; increase its presence to 20 African countries and enabling it to further deliver quality banking services to clients across the continent.

Source: Ventures Africa