PFI is the leading source of global project finance intelligence. It is published every two weeks, PFI reports on the entire lifecycles of deals, from the initial rumours through to post-completion analysis. Morupule B was the first major transaction involving Standard Bank and Industrial and Commercial Bank of China(ICBC) since the Chinese bank took a 20 per cent stake in Standard Bank in February 2008. This transaction demonstrates the benefits of the Standard Bank and ICBC partnership to African companies looking for financing and to the local communities whose quality of life is enhanced through increased expenditure on essential power and infrastructure projects.
Commenting, Rob Walker, Director, Investment Banking Coverage Africa, Standard Bank, said: "Standard Bank is delighted to win another award for our role in Morupule B. T
he funding solution proposed to the client provided a one-stop funding solution in the current lending climate that is almost unheard of. Our joint proposal with ICBC demonstrated the competitive advantages of combining ICBC's large balance sheet and client network in China with Standard Bank's project finance expertise and on the ground presence".
