Published: February 14, 2014
In almost all areas of dealmaking, 2013 was a year for celebration in Central and Eastern Europe, the Middle East and Africa.
In the debt markets, international issuance reached a record US$190.7bn, with Russian deals hitting their own high of US$100.7bn thanks to the efforts of corporate debutantes. EMEA equity-market activity rose by 63% year-on-year to US$235bn, including a doubling of the annual volume of initial public offerings to US$39.7bn. Syndicated loans in the Middle East and Africa were worth US$96.1bn, their highest annual total since 2008. M&A deals targeting the Middle East stood at a six-year high of US$33.3bn.
This kind of performance made judging our annual Achievement Awards an even trickier task than usual, but here we reveal our picks for the best deals and dealmakers of 2013. Nominated by parties including banks and borrowers and chosen by the EMEA Finance team, our winning houses and transactions exemplify the kind of innovative efforts taking place in the region’s capital markets.
As always, we congratulate all of our winners on their achievements and the new ground broken by so much of their work.
Full editorial coverage of the awards, including exclusive interviews with many of the winners, will appear in the forthcoming edition of EMEA Finance. To receive the next copy of the magazine free of charge, click here.
Investment bank of the year: Deutsche Bank
Deal of the year: Etisalat's US$5.7bn acquisition of Maroc Telecom
Dealmaker of the year: Patrick Mgbenwelu, head of project and structured finance, FBN Capital
DEBT
Best bond house in EMEA: Deutsche Bank
Best bond house in CEE: Barclays
Best bond house in the Middle East: Standard Chartered Bank
Best bond house in Africa: Citi
Best local currency bond house: HSBC
Best yen bond house: Daiwa Capital Markets
Best Swiss franc bond house: Credit Suisse
Best rouble bond house: Sberbank CIB
Best sovereign borrower: Romania
Best corporate borrower: Norilsk Nickel
Best financial institution borrower: Akbank
Best supranational borrower: IFC
Best sovereign bond in EMEA: Rwanda's US$400mn issuance
Best sovereign bond in CEE: Slovenia's US$3.5bn issuance
Best sovereign bond in the Middle East: Dubai's US$500mn issuance
Best sovereign bond in Africa: Nigeria's US$1bn issuance
Best corporate bond in EMEA: KazMunayGas's US$3bn issuance
Best corporate bond in CEE: Coca-Cola Icecek's US$500mn issuance
Best corporate bond in the Middle East: Emirates Airline's US$750mn issuance
Best corporate bond in Africa: The La Casera Company's NGN3bn issuance
Best supranational bond: Afreximbank's US$500mn issuance
Best Swiss franc bond: Russian Railways’ CHF675mn issuance
Best yen bond: Slovakia's JPY30bn issuance
Best sterling bond: Gazprom's £500mn issuance
Best rouble bond: MegaFon’s RUB20bn issuance
Best rand bond: Transnet's ZAR5bn issuance
Best Australian dollar bond: National Bank of Abu Dhabi's A$300mn issuance
Best covered bond: Home Credit & Finance's RUB5bn issuance
Best green bond: EIB's €650mn issuance
Best financial institution bond: Credit Bank of Moscow's US$500mn issuance
Most innovative bond: Majid Al Futtaim's US$500mn issuance
Best convertible bond in EMEA: MNV's €900mn Richter Gedeon issuance
Best convertible bond in CEE: Yandex's US$600mn issuance
Best convertible bond in the Middle East: National Bank of Abu Dhabi's US$500mn issuance
Best convertible bond in Africa: Implats' US$500mn issuance
EQUITY
Best equity house in EMEA: Goldman Sachs
Best equity house in CEE: Morgan Stanley
Best equity house in the Middle East: Deutsche Bank
Best equity house in Africa: Vetiva Capital Management
Best IPO in EMEA: Asiacell
Best IPO in CEE: Tinkoff Credit Systems Bank
Best IPO in the Middle East: Al Noor Hospital
Best IPO in Africa: One Tech
Best privatisation IPO: Energa
Best follow-on funding in EMEA: VTB Group’s US$3.2bn fund raising
Best follow-on funding in CEE: Emlak Konut’s US$1.6bn fund raising
Best follow-on funding in the Middle East: Arabtec’s AED2.4bn fund raising
Best follow-on funding in Africa: Oando’s N55.2bn fund raising
DEPOSITARY RECEIPTS
Best depositary receipt house: Deutsche Bank
Best depositary receipt programme: DAMAC Real Estate Development
LOANS
Best syndicated loan house in EMEA: Standard Chartered Bank
Best syndicated loan house in CEE: Citi
Best syndicated loan house in the Middle East: HSBC
Best syndicated loan house in Africa: Standard Bank
Best syndicated loan in EMEA: Dangote Industries’ US$3.25bn loan
Best syndicated loan in CEE: Ojer Telekomunikasyon's US$4.4bn loan
Best syndicated loan in the Middle East: Tasnee's SAR4bn loan
Best syndicated loan in Africa: Aspen's US$2.7bn loan
Best financial institution syndicated loan: ING Bank Turkey's US$500mn loan
Best supranational syndicated loan: Africa Finance Corporation's US$250mn loan
STRUCTURED FINANCE
Best structured finance house: ING
Best structured finance deal in EMEA: Rosneft's US$3.82bn pre-export financing
Best structured finance deal in CEE: US$1.8bn NET4GAS acquisition loan
Best structured finance deal in the Middle East: Emirates Airlines’ US$630mn DNA Alpha 2013-1 EETC
Best structured finance deal in Africa: Orion Oil 's US$500mn pre-export financing facility
Best securitisation house: VTB Capital
Best securitisation deal in EMEA: Commerzbank's CoTrax Finance II-1 trade securitisation
Best securitisation deal in CEE: Turkey's US$400mn catastrophe bond programme
RESTRUCTURING
Best restructuring in EMEA: Electricity Supply Corporation of Malawi's ZAR79mn restructuring
Best restructuring in CEE: ChTPZ Group's debt restructuring
Best restructuring in the Middle East: Dubai Duty Free's repricing of US$1.75bn facility
Best restructuring in Africa: EMTS Nigeria's US$1.2bn refinancing
M&A
Best M&A house in EMEA: Bank of America Merrill Lynch
Best M&A house in CEE: Barclays
Best M&A house in the Middle East: Morgan Stanley
Best M&A house in Africa: Rand Merchant Bank
Best M&A deal in EMEA: Merger of Aldar Properties and Sorouh Real Estate
Best M&A deal in CEE: Austrian Post's acquisition of shares in Turkish Aras Kargo
Best M&A deal in the Middle East: Merger of Emirates Aluminium and Dubai Aluminium
Best M&A deal in Africa: Etisalat's acquisition of Maroc Telecom
Best financial institution M&A deal: Guaranty Trust Bank's acquisition of a 70% stake in Fina Bank
Best privatisation programme: Turkey's electricity distribution companies
Best cross-border deal: Metair's acquisition of Mutlu Holding
PRIVATE EQUITY
Best private equity house in EMEA: Abraaj Group
Best private equity house in CEE: Mid Europa Partners
Best private equity house in the Middle East: Investcorp
Best private equity house in Africa: Emerging Capital Partners
Best private equity investment: Standard Chartered Private Equity invests in Choppies
Best private equity exit: Mid Europa Partners sells SBB/Telemach to KKR
Best private equity fund raising: 3TS Capital Partners' €103mn closing of TCEE Fund III
ISLAMIC FINANCE
Best Islamic finance house: Standard Chartered Bank
Best sukuk house: HSBC
Best Islamic borrower: Ooredoo
Best sovereign sukuk: Government of Ras Al Khaimah's US$500mn issuance
Best corporate sukuk: Saudi Electricity Company's US$2bn issuance
Best financial institution sukuk: Dubai Islamic Bank's US$1bn perpetual sukuk
Most innovative sukuk: Almarai Company's SAR1.7bn hybrid sukuk
Best supranational sukuk: Islamic Development Bank's US$1bn issuance