Best Sustainable Deal Award at the ACT Awards
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This year at the ACT Treasurers Deal of the Year Awards ceremony on 7 February, ABN AMRO financed three of the winning deals, including the Best Sustainable Finance deal of the year: Phoenix Group, Renewi and Melrose Industries. The Awards, now in their 22nd year, celebrate the outstanding achievements of corporate treasurers and recognise companies that have shown innovation and excellence in corporate treasury. Winning the Best Sustainable Finance Deal of the Year award is a great proof point of our strategic ambition to support our clients’ transition to sustainability. Peter Ellemann, Managing Director for Loan Markets with ABN AMRO Bank N.V. in the UK who worked on each of the deals said: “These awards are strongly fought with submissions considered across Europe, Middle East and Africa and it is great for the ABN AMRO brand to be associated with these winners demonstrating our confidence to back daring and innovative transactions”.
Peter Ellemann, Managing Director for Loan Markets with ABN AMRO Bank N.V. in the UK who worked on each of the deals said: “These awards are strongly fought with submissions considered across Europe, Middle East and Africa and it is great for the ABN AMRO brand to be associated with these winners demonstrating our confidence to back daring and innovative transactions”.
Phoenix Group: Best Deal of the Year
Phoenix Group, the specialist consolidator of heritage life assurance funds was named as the overall winner of Best Deal of the Year. Judges acknowledged Phoenix group’s complex financing to support a reverse takeover of Standard Life Aberdeen ‘s UK and European Life business for GBP 2.9 billion which was achieved through a combination of £1bn of debt, £1bn rights issue and £1bn equity placing with the vendor. Here ABN AMRO Loan Markets acted as joint underwriter of the debt package and DCM led a follow-on EUR 1bn Tier 2 hybrid capital issue.
Renewi: Best Sustainable Finance Deal
The winner of Best Sustainable Finance Deal of the Year was the waste-to-product company, Renewi. ABN AMRO acted as Sustainability Coordinator, developing a Green Finance Framework under which all of Renewi’s debt (whether bank loans, private placements or leasing) is accredited as Green Thereafter we executed place a syndicated €412.5m green multi-currency RCF and a €137.5m green multi-currency term loan, to which an additional private placement tranche was then added.
Melrose Industries: The award for Loans above £750m
The award for Loans above £750m was given to buyout group Melrose Industries for the £4.5bn facility put in place to finance its £8.1bn takeover of GKN. ABN AMRO participated in this financing with a £284m commitment.
“A testament to the ABN AMRO brand”
Zafar Khan, Head of UK Coverage said: “It is a testament to the ABN AMRO brand and the high quality of its banking organisation that we were able to participate in several award winning loans in our first full year of operation. These transactions were the result of tremendous effort and teamwork at ABN AMRO and have positioned us well for 2019.”