March 15, 2020
Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has facilitated various landmark transactions in the Nigerian financial market. The firm, through its subsidiaries, handled milestone deals for Nigerian Breweries Plc, Union Bank of Nigeria PLC, First Securities Discount House (FSDH) Merchant Bank and even the Lagos State Government, among others.
The Stanbic IBTC Holdings PLC subsidiaries include Stanbic IBTC Capital Limited, Stanbic IBTC Stockbrokers Limited and Stanbic IBTC Trustees Limited. These subsidiaries acted in various such as Financial Advisor, Issuing House, Bookrunner, Stockbrokers as well as the Receiving Bank and Joint Trusteeship.
Stanbic IBTC assisted the Lagos State Government to issue N100 billion in series 3 Bonds under its N500 billion Bond Programme in January 2020 with a tenor of 10 years. The bond was oversubscribed to the tune of N196 billion (2x subscribed).
Similarly, Stanbic IBTC Capital Limited backed the Nigerian Breweries Plc as the Joint Lead Arranger and Dealer to raise N89 billion in the Series 5 and 6 Commercial Paper Issuance which was also oversubscribed. Stanbic IBTC Capital Limited was responsible for 50 per cent of the total amount raised in February 2020.
Stanbic IBTC Bank PLC, with the aid of its sister subsidiary, Stanbic IBTC Capital Limited, successfully issued N25 billion in Series 54 Commercial Paper in March 2020 with a tenor of 267 days under the issuer’s N100 billion multicurrency CP Issuance Programme. Though the bank sought to raise N20 billion, the commitment from investors was over N25 billion.
Stanbic IBTC Capital Limited surpassed the expectations of Union Bank PLC by raising N26.2 billion in the lender Series 3-4 Commercial Paper with the tenor of 180 days and 268 days under the Issuer’s N100 billion CP Issuance Programme in January 2020. Stanbic IBTC Capital Limited was responsible for 85 per cent of the total amount raised in the CP which was oversubscribed by 32 per cent.
The leading financial advisor and issuing house also acted as the Lead Arranger and Dealer for FSDH Merchant Bank to raise N23.6 billion in its inaugural CP issuance under its renewed N30 billion CP programme with a tenor of 266 days. It was solely responsible for engaging FMDQ to ensure quotation of the Series 1 CP on the stock exchange.