FBN Capital bags key awards in investment banking, asset mgt
FBN Capital Limited, the Investment Banking and Asset Management business of FBN Holdings Plc, has again received the prestigious ‘Best Local Investment Bank in Nigeria’ and ‘Best Asset Manager in Nigeria’ awards at the 9th EMEAFinance African Banking Awards 2016
At the ceremony which held in London recently, the Publisher & CEO EMEA Finance, Christopher Moore, presented the awards to Deputy Director and Head, Advisory & Capital Markets, Afolabi Olorode and Head, Marketing & Corporate Communications, Lolade Sasore, who attended on behalf of FBN Capital.
Despite the tightening headwinds in the financial services sector and across other sectors of the nation’s economy, the firm ended the year on this outstanding note for innovative transactions closed and service delivered.
In 2016, FBN Capital executed the largest Commercial Paper to be established by a Nigerian corporation, with the Nigerian Breweries Plc. Commercial Paper (CP) Issuances (Series 5, 6, 7), a transaction worth N12.23 billion, which recorded impressive subscription from investors. In the UACN Property Development Company Plc Commercial Paper Issuance (Series 1) of N16.79 billion, the company was a Joint Lead Arranger involved in structuring the notes, advising on appropriate transaction structure, timing and pricing; guidance on investor appetite and distribution of the notes to investors. The issuance incorporated a first of its kind credit enhancement structure novel to domestic CP issuances which influenced the 168% subscription level recorded on the transaction.
FBN Capital also was mandated as Financial Adviser by Seven Energy International Limited (SEIL) to facilitate the restructuring of Accugas’ IV US$385-million Term Facility; and in the last quarter of the year, successfully facilitated the refinancing of two transactions in the power sector.
FBN Capital Asset Management offers a diversified suite of products, including several mutual fund products such as the FBN Money Market Fund and the FBN Fixed income Fund. Over the years, the FBN Money Market Fund has consistently delivered competitive returns to investors and according to the Securities and Exchange Commission (SEC), the FBN Heritage Fund and the FBN Fixed Income Fund have remained the largest mutual Funds in their respective categories, as at the end of September 2016. In addition, the FBN Nigeria Smart Beta Fund returned 12.93% from inception till September 2016 and has outperformed the NSE 30 benchmark which returned -2.01% in the same period.
Commenting on the awards, Olorode noted that the achievements reaffirm the company’s commitment to delivering value to our clients. “We are motivated to constantly search for what comes next, and remain committed to our promise to be an inspirational partner” he said.
EMEA Finance is a prestigious magazine publication that delivers compelling and relevant reportage of financial events, happenings and achievements to the financial community across the European, Middle East and African region. Other notable awards won in the year were The Banker’s prestigious ‘Deal of the Year Africa’; the Business Day Banking Awards for ‘Best Managed Funds’; and Africa Investor’s award ‘Best Africa Investment Bank’.