Sberbank CIB Recognised for DCM Capabilities at EMEA Finance's 2014
OREANDA-NEWS. Sberbank CIB has been awarded 'Best corporate bond in CEE' at EMEA Finance's 2014 Achievement Awards, which commend the year's best bank and capital markets deals. Sberbank CIB was recognised for its role as Lead Manager on SPP Distribucia's €500 mln Eurobond in June 2014, which was the company's inaugural Eurobond transaction in the CEE region.
The deal was particularly notable for a number of reasons: it diversified SPP Distribucia's investor base and launched a new high-quality credit to strong demand from fixed income market participants. The issuance received a credit rating ('A') from Fitch that was one notch higher than the overall corporate rating, reflecting expectations of above-average recoveries by regulated network utilities in developed markets. The transaction was smoothly executed intraday, with strong investor feedback enabling the deal to launch with a coupon rate of 2.625% and yield of 2.734%.
"This award is yet another demonstration of Sberbank CIB's unrivalled expertise in the regional debt capital markets," commented Oleg Ganeev, Deputy Chairman of the Executive Board of Sberbank of Russia, Head of Sberbank CIB. "To have achieved such positive investor feedback and a robust credit rating on the company's debut Eurobond issuance is indicative of the team's specialised market knowledge and strong execution capabilities. This allows Sberbank CIB to meet its clients' complex debt requirements by providing bespoke advice and delivering optimal financial solutions."
This accolade builds on Sberbank CIB's substantial awards success in 2014, during which time it was commended for its role at the forefront of capital markets activity by a number of publications. This includes The Banker, which most recently named Sberbank CIB as the Most Innovative Investment Bank in the CEE region at its Annual Investment Banking Awards. It also follows Sberbank CIB's strong performance in EMEA Finance's 2013 Achievement Awards, where the company won six titles, including Best Rouble Bond House and Best Corporate Borrower for its role as as a Joint Lead Manager for a three-tranche placement of three-year RUB local bonds of MMC Norilsk Nickel totalling RUB 35 bln.