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Deals of the Year Awards 2009
The Deals of the Year Awards are organised by The Treasurer, the official magazine of the ACT.
The Deals of the Year Awards 2009 are proudly supported by:
The Deals of the Year Awards are the only treasury awards where the winners are judged by fellow practitioners. They celebrate the achievements of the corporate treasurer in successfully accessing the debt and equity markets on behalf of their company. All types of deal are considered and judged on the basis of demonstrating innovation and excellence in treasury, rather than on the size of the deal. In addition, the Treasury Team of the Year Awards recognises the all round contributions of treasury teams to business success.
Winners of the Deals of the Year 2009
Corporate Finance and Overall winner: Cable and Wireless
Getting a deal away was tough enough in 2009 for even the most established players, but how about successfully completing on a deal for an entity that doesn’t even exist? In doing precisely that, telecoms company cable & wireless gave a flawless performance that has made it the overall winner of deals of the year.
Bonds: Roche
Realising that the banks in a hugely volatile market simply could not put together a bridge loan on the scale required, Roche decided to go directly to the Capital markets itself to arrange a $16.5bn bond.
Liability Management: Wind
Wind telecomunicazioni’s issue of €1.25bn and $2bn senior notes was a hugely complex refinancing liability management transaction that kickstarted the european high-yield market for trades of jumbo size.
Loans - continental European corporates (deal size over £750m): ABB
Particularly sensitive to liquidity risk after weathering its own crisis a few years previously, ABB coolly replaced its $2bn revolver a year before it expired.
Loans - UK corporates (deal size over £750m): Barratt
By restructuring loans and raising equity, Barratt forced its net debt back into the comfort zone.
Loans - UK and continental European (deal size under £750m): Marston’s
Marston’s pioneering of a forward start revolving credit facility at the beginning of 2009 validated the model as a means of securing medium-term liquidity for borrowers facing refinancing risk and was swiftly adopted as the capital markets withered.
Large Cap Treasury Team of the Year (market cap over £2bn): Rolls Royce
Last year, the rolls-royce team successfully issued a £500m bond and completed a $200m private placement. It also rationalised its vast global cash management Operation, rolling out internet-based banking Platforms to improve transparency and liquidity.
Mid Cap Treasury Team of the Year (market cap under £2bn): ITV
Against a backdrop of corporate restructuring, with Support functions being downsized and reorganised, the itv treasury team performed brilliantly in proactively managing financial risk, rescheduling debts falling due while avoiding restrictive covenants.
Deals of the Year awards dinner 2009 Picture Gallery
Judging process
The Deals of the Year Awards Panel comprises a group of experienced market practitioners from across the spectrum of treasury, risk and corporate finance. The Panel give full consideration to all nominated deals and use the criteria noted below to select the winners of each category, plus an overall winner. It also draw up the shortlist for the Corporate Treasury Team of the Year.
Nominations for Deals of the Year 2010
We are keen to hear from treasurers or bankers throughout the year who already have a deal they would like to nominate for Deals of the Year 2010. Do you have details of an exceptional deal you feel deserves recognition? Or have you worked alongside a treasury team worthy of note? To nominate a deal or team send a brief outline to Peter Matza on pmatza@treasurers.org.
Winners from previous Deals of the Year Awards
Review the results and more from the Deals of the Year Awards 2008
