29 April 2015

EMEA Finance recognises Barclays with the Best M&A Deal in Africa, Best Privatisation M&A Deal, and Best Syndicated Loan in Africa and EMEA awards

Barclays Africa Corporate and Investment Banking (CIB) has been named the Best M&A House in Africa (and EMEA) as well as the Best Bond House in Africa at the 2014 EMEA Finance Achievement Awards. The awards ceremony is due to be held in London in June 2015.

The EMEA Finance Achievement Awards panel reviews the performance of regional economies and banking systems while analysing submissions on landmark capital-markets deals from sovereigns and companies. Through this rigorous process the panel selects the best-performing financial services players in various categories.

In addition to the top Best M&A House in Africa (and EMEA) and Best Bond House in Africa awards, Barclays Africa CIB took first place for:

  • Best M&A Deal in Africa: Steinhoff buys Pepkor
  • Best Supranational borrower: African Development Bank
  • Best Privatisation M&A Deal: Skye Bank buys Mainstreet Bank
  • Best Sterling bond: African Development Bank's £250mn issuance
  • Best Syndicated Loan in Africa: First Quantum Minerals' US$3bn loan
  • Best Syndicated Loan in EMEA: INT/IHS's US$800mn loan
  • Best Sovereign Bond in EMEA: Kenya’s US$2bn issuance
  • Best Corporate Bond in Africa: OCP’s US$1.55bn issuance
  • Best Rand Bond: Old Mutual Life Assurance Company’s ZAR1bn issuance
  • Best Covered Bond: Raiffeisen CZ’s €500mn issuance
  • Best Convertible Bond in Africa: Steinhoff’s €465mn issuance
  • Best Securitisation deal in Africa: Nqaba Finance's ZAR382mn notes

“Barclays Africa is proud of the work we have done across a wide range of M&A transactions in 2014. We have helped our clients in various sectors to secure new business opportunities and raise the necessary capital to optimise their operations,” said Philip Lindop, Head of Banking at Barclays Africa CIB. “As an organisation, Barclays Africa is striving to be the Go-To bank in Africa. This recognition highlights that our clients are increasingly turning to us to partner with them in finding the best possible solution for their business and for Africa.”

Barclays Africa’s work across eight deals in Africa in 2014 secured its position as the Best M&A House in Africa. One of the projects considered for this award was Barclays’ mandate as the sole sell side advisor to the investor group led by Helios Investment Partners on the sale of 100% of Continental Outdoor Media to JCDecaux and Royal Bafokeng Holdings.

Exclusive financial advisor

In the mining sector, Barclays acted as the exclusive financial advisor to Norilsk Nickel on the disposal of its African assets comprising of nickel and chrome mines in South Africa and Botswana to a Botswana government owned mining company for a cash consideration of US$337 million.

Barclays Africa helped Steinhoff International Holdings Limited as the Joint Bookrunner and Sole Transaction Sponsor in its ABB and Rights Issue, resulting in the Best M&A Deal of the year award. The innovative financing structure that was implemented helped to create the largest ever primary equity capital raise in the South African market.

The offering is the second largest ever equity capital raising event from a South African issuer and the largest equity offering in Africa in 2014. Both the ABB and the Rights Issue were heavily oversubscribed, helping ensure that the best possible pricing could be achieved on both tranches and also helping support a positive aftermarket.

Largest sale of an African bank

Barclays Africa’s work as the joint financial advisor to the state-owned Asset Management Corporation of Nigeria on its disposal of 100% shareholding in Mainstreet Bank to Skye Bank for approximately US$767 million secured its leading position for the Best Privatisation M&A Deal Award. This was the largest sale of an African Bank in 2014.

A US$3 billion underwriting of First Quantum Minerals Limited’s syndicated Term Loan and Revolving Credit Facilities to refinance existing facilities, finance general corporate purposes, capital expenditure and working capital requirements, secured the Best Syndicated Loan in Africa Award. The Barclays Africa team also took home the Best Syndicated Loan in EMEA Award for its debt funding to assist IHS Nigeria acquire MTN Nigeria’s telecommunication tower portfolio of 9,150 towers located in Nigeria.

Philip Lindop concludes, “Barclays Africa has won a number of awards from EMEA Finance over the years. We are grateful for the ongoing recognition from the judging panel and for our clients’ confidence in us supporting them in achieving their ambitions.”