The Bank of Industry (BoI) has received an award for the \u2018International Syndicated Loan Deal of the Year\u2019 at the Bonds and Loans Africa Awards ceremony.<\/p>\n\n\n\n
This is contained in a statement signed by the Head, Corporate Communications, BoI, Mrs Hadiza Olaosebikan.<\/p>\n\n\n\n
The bank was presented with the award in recognition of its $1 billion syndicated term loan facility successfully raised in the international market in December 2020.<\/p>\n\n\n\n
The award ceremony took place on Wednesday in Mount Nelson, Cape Town, South Africa.<\/p>\n\n\n\n
Mr Olukayode Pitan, Managing Director, BoI, was quoted by the statement as saying that, the recognition highlighted the bank\u2019s impact as Nigeria\u2019s leading Development Finance Institution (DFI).<\/p>\n\n\n\n
This, he said, was seen in the BoI\u2019s commitment to maximising its developmental impact by raising and deploying funds that enhanced its capacity to support customers.<\/p>\n\n\n\n
Pitan said that the award came on the back of BoI\u2019s successful issuance of a \u20ac750mn Senior Eurobond (the first by any African national DFI) in February 2022.<\/p>\n\n\n\n
He noted that the bank had raised about 3.8 billion dollars from the international financial market in the last four year.<\/p>\n\n\n\n
\u201cThis includes another syndicated loan of \u20ac1bn in March 2020; and a 750 million dollars syndicated medium-term loan in 2018 which has been fully paid off,\u201d Pitan said.<\/p>\n\n\n\n
He said that the exhaustive selection process for the award involved close examination of deal size, tenor, structure, and distribution; analysis and background of the borrower and their accessibility to financing.<\/p>\n\n\n\n
Others, he said, included borrowers extra credit for deals that demonstrate high quality execution, accessing new pools of liquidity, innovative structuring, and opening-up new markets.<\/p>\n\n\n\n
\u201cWe look forward to intensifying our efforts to catalyse sustainable economic growth for Nigeria and the continent at large,\u201d he said.<\/p>\n\n\n\n
Pitan also acknowledged the significant role that myriad strategic partners played in the consummation of this deal in spite of the challenges posed by the COVID-19 pandemic.<\/p>\n\n\n\n
\u201cWe are especially grateful for the support of our lead arrangers, underwriters and book runners.<\/p>\n\n\n\n
\u201cAfreximbank, Credit Suisse A.G, Rand Merchant Bank and Sumitomo Mitsui Banking Corporation; and the Central Bank of Nigeria provided a 100 per cent currency swap that allowed us to mitigate foreign exchange rate risks, \u201d he said.<\/p>\n\n\n\n
The Bonds and Loans Africa Awards has been recognising the most innovative and ground-breaking deals from sovereign, corporate and financial institution issuers and borrowers since 2014.<\/p>\n\n\n\n
The annual event brings together the industry\u2019s most high-profile figures thereby raising the profile of the African financial markets with the international investment community.<\/p>\n\n\n
The Bank of Industry (BoI) has received an award for the \u2018International Syndicated Loan Deal of the Year\u2019 at the Bonds and Loans Africa Awards ceremony. This is contained in a statement signed by the Head, Corporate Communications, BoI, Mrs Hadiza Olaosebikan. The bank was presented with the award in recognition of its $1 billion […]<\/p>\n","protected":false},"author":2,"featured_media":21249,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125],"tags":[682],"class_list":["post-41167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","tag-boi","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n