Menu Close

Nedbank wins Deal of the Year for its green renewable energy bond

Nedbank’s Corporate and Investment Banking (CIB) division has again been recognised by its peers and the broader African financial services industry for its excellence.

 

CIB had garnered two nominations for Deal of the Year Awards at the 2020 African Banker Awards, which was hosted virtually on August 26.

 

The African Banker Awards ceremony is the largest annual recognition event for banks in Africa, celebrating those institutions and leaders that contribute to the transformation and development of Africa’s financial sector.

 

CIB’s highly successful Nedbank Green Renewable Energy Bond issuance was awarded Energy Deal of the Year, owing to its impactful and innovative nature.

 

The Nedbank Green Bond was listed on the green segment of the JSE in April last year and marked the first issuance of this type of sustainable fundraising instrument in the local market by a South African bank.

 

According to Arvana Singh and Bruce Stewart from Nedbank CIB, the bond was exceptionally well received, as evidenced by the fact that an auction process on April 24, which targeted R1.5-billion in funding, ultimately attracted local and international bids of R5.4-billion.

 

Due to the overwhelming response, Nedbank had to upsize the issuance to R 1.7-billion and issued across three-, five- and seven-year tenors.

 

The funds raised from the bonds are being used to build renewable energy projects across Southern Africa, thereby contributing to positive environmental impact and building Africa’s green economy.

 

CIB’s involvement in the successful conclusion of the African Finance Corporation’s (AFC’s) Kimchi Syndication transaction also saw it nominated for Deal of the Year in the debt finance award category.

 

The inaugural $140-million Kimchi Syndicated term loan was the first-ever Korea-focused loan facility for an African borrower, the proceeds of which will be used for general AFC corporate purposes bolstering the institution’s capacity to diversify its funding sources in support of sustainable African infrastructure development.

 

Singh says the success of both transactions, and especially the receipt of the Energy Deal of the Year award, are evidence of the value delivered by CIB’s highly collaborative, cross-business approach.

 

“Close collaboration between our teams, businesses and clients has always been the foundation of the Nedbank CIB approach.

 

“The recognition we have received through these nominations from the prestigious African Banker Awards, serves to reinforce the value of our commitment to leverage our financial expertise, and partner with our clients, to deliver social and economic development benefits for all in Africa,” she concludes.

 

View: Source

 

View: More news

Related Posts

74 Comments

  1. Davidshova

    Over 15 games you can easily play with friends over video chat. Use Facetime, Zoom, or Google Hangouts to play these games together. (And if you’re not using Zoom – no worries! This post gives game ideas you can use on other platforms too!) This is brilliant! I tried my first ZOOM with my students yesterday, and it was really frustrating bc I did not have a planned activity! This is AMAZINGLY helpful! Thank you! Can’t wait to ZOOM again, this time with a clear vision! You’re awesome!♥️ http://among-us-free55310.luwebs.com/5244408/car-mechanic-simulator-free-download Besides that, this next one is also a big hit as well. And it’s one of the most popular games from the party-favourite online game – Jackbox Games. This game simply “draws” from concept of having you and your friends to draw on your devices based on given prompts. Meanwhile, everyone else anonymously submits a title that could fit this bizarre drawing. Your goal is to find the correct prompt while fooling your friends into selecting your decoy answer. What’s great about Drawful 2 is that you can craft an episode around inside jokes and events with your friends!

Leave a Reply

Your email address will not be published.