Absa Capital, the investment banking division of Absa Bank Ltd (Absa), announced that their Debt Capital Markets (DCM) team was ranked #1 by Bloomberg on the Bloomberg 2010 Underwriter Rankings league table.
Prasanna Nana, Head of the South African Debt Capital Markets team at Absa Capital, said: “We are delighted with our ranking as it further underscores our relentless pursuit of excellence and our client-centric approach.”
This is the first time that Absa Capital has claimed the top spot in the Bloomberg rankings following a third place in 2009 and a second place in 2008.
Significantly Absa Capital was also the Sole Lead Arranger of all the mandates it received that were covered by the Bloomberg accolade. Furthermore, the rankings also reflect the diversity of the DCM transactions concluded by Absa Capital in 2010 to date, namely the:
- Two Edcon securitisation deals totaling R2.15 billion as well as the Nqaba securitisation deal totaling R876 million;
- BMW Financial Services SA and the Ekurhuleni Metropolitan Municipality’s inaugural bond issues; and
- Simmer and Jack’s High Yield bond issue.
The Absa Capital DCM team was also ranked as the ‘Best Primary Markets House’ at the November 2008 and 2009 JSE Spire awards.
The Bloomberg Underwriter Rankings exclude self-lead deals, such as Absa having actively issued senior unsecured debt as well as securitisation financing through the Absa Homes RMBS securitisation, and offshore issuance for South African corporates such as US$700 million inaugural bond for Naspers Ltd (a joint mandate between Citi, JP Morgan and Barclays Capital). EndsNote to the editor:
About Absa Capital
Absa Capital, a division of Absa Bank Limited (Absa) and affiliated to Barclays Capital, is a leading South African investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe. For further information contact:
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