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Standard Bank wins a brace of awards from Global Trade Review Magazine for ‘Best Deals of 2008′

Standard Bank has won two awards in the Global Trade Review (GTR) Best Deals of 2008 for Camco International Limited and Malawi Fertilizer, reinforcing the Bank’s expertise in specialised financing projects in emerging markets.

The Camco deal was a Structured Carbon Emission transaction. Standard Bank structured and distributed 5.8 million carbon credits from nine of Camco International’s Clean Development Mechanism projects in China in a trenched pool structure. In addition, Standard Bank used an innovative commodity finance structure to provide a limited recourse up-front payment to Camco of €15 million. Many elements of the deal had never been done before in the carbon markets.

John Penn, Standard Bank Head of Structured Trade Finance from says: “Standard Bank is delighted to win this award, which recognises Standard Bank’s ability to deliver complex and innovative financing deals to clients.”

The Malawi Fertilizer transaction was arranged at a time when world fertilizer prices were at an all time high and there needed to be a structure to cope with price risk during the life of the loan. Plus strong dealings were needed with the government of Malawi in terms of how subsidy payments for fertilizer was distributed. Logistics risk for moving the fertilizer from port across borders to a land locked country was also a key to its success.

Anne-Marie Woolley, Standard Bank Head of Trade Finance, says: “Standard Bank is delighted to win the Deal of the Year award for Malawi Fertilizer Co. This scheme, to support a key sector for the Malawi economy, was struck at the height of a bull run for fertiliser and required us to ensure we developed a flexible structure that could absorb potential price pressures. We were also required to work closely with the Malawi government who took an active interest in the project from the outset.”

Commenting on the awards, Rebecca Spong, Editor of GTR said: The two entries from Standard Bank were selected as winning deals by the editorial team primarily for their interesting structures which act as benchmarks for future transactions in those markets.”

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