Stanbic Bank Tanzania has once again affirmed its status as one of the country’s leading corporate and investment banks, after receiving an international award from The Banker magazine on the “Deal of the Year” category.
A statement issued by the bank said, the award is recognition of the bank after it successfully arranged a syndicated financing worth US$85m for Helios Towers Tanzania Limited, a subsidiary of Helios Towers Africa Limited, to finance their network of telecommunications towers across the country last year.
Commenting on the award, Stanbic Bank Managing Director Bashir Awale said it was an honour for the bank to be recognized again internationally for its investment banking efforts in the country.
“Being recognizes for the “Deal of the Year” award from The Banker, which is an influential financial magazine is an honour and it demonstrates that we are on the right track where Investment banking is concerned.
Stanbic Bank has always been focused on its investment banking business because it is a critical delivery mechanism for banks into the key sectors of infrastructure development, commodities, oil and gas and telecommunications in Africa,” Awale explained.
The Helios financing attracted strong and broad-based interest from several local and international financial institutions, the statement said.
It added that the lending syndicate demonstrated the ability of African banks to finance large and cross-border transactions and included as original lenders Stanbic Bank Tanzania Limited, Standard Bank of South Africa, Emerging Africa Infrastructure Fund, Investec Bank, National Microfinance Bank, Bank of Africa Tanzania Limited and International Commercial Bank from Tanzania.
Stanbic Bank Tanzania Head of Investment Banking Shose Sinare said: “We are very proud to have received this award. We remain committed to spearheading infrastructure development in Tanzania.
We would like to again thank our local partners who joined us to finance this deal, National Microfinance Bank Plc, Bank of Africa Tanzania Limited and International Commercial Bank (Tanzania) Limited who came in as original lenders on the local tranche.”
This is a second international award for Stanbic Bank in the investment banking space. Last year the bank received “Investment Bank of the Year Award” from EMEA finance Magazine for the US250m syndicated loan the bank arranged for the government, the statement said.
The Banker is a monthly international financial affairs publication which has claimed a dedication to the international perspective through features, interviews, multi-media applications and events.