R1.5 billion Commercial Paper and R2 billion Bond issue
Standard Bank successfully issued a R1 billion, 5 year, fixed rate bond for Anglo American, thereby establishing a benchmark for them in the South African debt capital market. The bond priced 7 bps below price guidance, which considering market conditions, was an exceptional result.
Standard Bank was appointed sole lead manager on the City of Cape Town CCT03, R2 billion, 15 year bond which was 1.5 times oversubscribed and issued within the Standard Bank price guidance
Standard Bank was mandated as Joint Lead Manager with Deutsche Bank and Nedbank Capital as a Co-Lead Manager on the deal. The deal was executed within a 48 hour timeframe, despite a shaky global sovereign background, however SA managed to distinguish themselves as a unique credit and as a result, price guidance was revised down twice amid significant demand for the issue. The National Treasury managed to raise the full USD 2 billion (the single largest bond ever raised).
Standard Bank was Joint Mandated Lead Arranger to the Bombela Consortium, for the development of the approximately US$3 billion Gautrain high-speed rail PPP project linking Johannesburg to Pretoria, Sandton and OR Tambo Airport in Gauteng, South Africa. This is the largest greenfield rail concession currently under construction globally. The consortium consists of Bouygues TP, Bombardier, Murray & Roberts, SPG and French Metro operator RATP. The project closed in February 2007.
Standard Bank privately placed R750 million of 2, 3 and 4 year notes for Mercedes-Benz SA. This was the first non financial corporate issuance of bonds in volume since the start of the credit crisis.
Standard Bank acted as the Investment Bank and transaction advisor to SABMiller on their Broad-Based Black Economic Empowerment transaction. Under the transaction, The South African Breweries Limited ("SAB") will issue three new classes of ordinary shares in SAB (the "SAB Shares"), in aggregate comprising 8.45% of SAB's enlarged share capital.
Standard Bank provided development finance totalling R752 million to the 3 co-owners, Resilient Property Income Fund Ltd, East & West Investments (Pty) Ltd (Moolman Group) and Changing Tides 91 (Pty) Ltd (Flanagan & Gerard Property Development & Investment), for the development of a 73 000m2 regional shopping centre in Polokwane.
Standard Bank was the majority financier to the newly listed Fortress Income Fund Ltd, providing R650 million of 2 year senior debt in September 2009. The financing was applied in the acquisition of a portfolio of 71 properties, purchased predominantly from Capital Property Fund and Pangbourne Properties Ltd.
Standard Bank was mandated as Co-Lead together with JP Morgan and Barclays Capital mandated as Lead Managers on a tap of the highly successful issue concluded earlier in the year. Following an improvement in the local economy, a subsequent upgrade by an international credit rating agency, and significant demand, The National Treasury was able to tap the existing issue at a yield of 5.85%, tighter than the initial guidance of 5.95%.
Standard Bank was the Investment Bank and transaction sponsor to Tiger Brands Limited for their Phase II BEE transaction where they transferred 9,1% shareholding to BEE parties.
Standard Bank was appointed the Joint Mandated Lead Arranger for the €225 million (US$303 million) Medium Term Loan Facility to finance Lafarge Cement WAPCO Nigeria's Lakatabu Expansion Project. The Project will enable Lafarge WAPCO to double its cement production capacity. The deal, which was closed in the middle of the liquidity crunch, was hugely oversubscribed.
The European Bank for the Reconstruction and Development (EBRD) and Standard Bank Plc together the Initial Mandated Lead Arrangers announced the signing of the Senior Syndicated EBRD B-Loan for JSC Ukreximbank Ukraine under a US$134.5 million EBRD A/B Loan Facility.
Standard Bank was principal advisor to Ruukki Group plc, a company incorporated in Finland, (“Ruukki”) and Sylvania Resources Limited (“Sylvania”) when they entered into a merger implementation agreement pursuant to which Ruukki will acquire, subject to satisfaction of certain conditions, all of the issued and to be issued share capital of Sylvania under an Australian law governed scheme of arrangement between Sylvania and its shareholders. Value of the deal is R2,953,000,000.
Standard Bank and Industrial and Commercial Bank of China (“ICBC”) were Joint Lead Arrangers on the US$ 1.6 billion coal fired Morupule B power station expansion project in Botswana (“the Project”). The Project is a major Botswana government initiative, driven by the Botswana Power Corporation (BPC), aimed at boosting the country’s power generation capacity. It comes in the wake of Eskom switching off its power to Botswana to supply growing domestic demand in South Africa.