The Banker awards BBVA in four Deals of the YearMay 1, 2013
The Banker (Financial Times Group) has disclosed the Deals of the Year awards of 2012. BBVA Corporate & Investment Banking has been recognised due to its participation in four of the winning and highly commended deals for Europe and Asia-Pacific regions.
BBVA has participated in three winning Deals of the Year awards given by The Banker for the following categories: Bonds, Syndicated Loans and Project Finance. Besides, it has also taken part in other Project Finance deal that has been Highly Commended.
In the Bonds Europe category, The Banker has awarded as Deal of the Year the first issue that the Spanish Treasury did in 2013, when it launched €7bn in 10-year bonds. It was the first syndicated issue for the last 12 months and it received a great response from investors as their demand was three times bigger than the offering. The deal was a landmark as the amount issued exceeded expectations and it attracted many of foreign investors (60%), which show that Spanish market has recovered confidence.
Also in Europe took place the $5.4bn syndicated loan to Telefónica that has been awarded as Deal of the Year. Up to 37 banks were involved in the transaction amid a tough time for the industry in Europe (March 2012), being BBVA one of the Joint Bookrunners. The innovative legal structure of the loan allows banks to use it as collateral to raise funds from ECB from LTRO repurchase facility.
The third awarded transaction has been a $12.89bn Project Finance deal to build a gas liquefaction plant in Queensland, Australia. Three big energy companies have invested in the plant, which is expected to have the highest the capacity of production in the world: ConocoPhillips, US (37.5%); Origin Energy, Australia (37.5%); and Sinopec, China (25%). The financing structure is formed by the US and China ECAs and the bank syndicate where BBVA acts as MLA.
Project Finance arm of BBVA CIB has also received a Highly Commended recognition for the $4.5bn loan to French consortium Eiffarie. The loan, provided together with Société Générale, will be used to refinance the acquisition of a motorway network purchased in 2006.
With these awards, The Banker recognises the sound knowledge and structuring capability of BBVA CIB teams to successfully close transactions in several geographies despite a challenging environment for the financial sector worldwide.