Deals of the year 2010: Middle East and African awards

February 04, 2011

Minerals and dynamism drive MEA deals: Rapid rebound in emerging markets boosted Africa and the Middle East.


Zain Africa acquisition and financing
Size:	$10.7 billion (acquisition), $7.5 billion (syndicated loan)
Date:	March 20 (loan pricing), June 8 (acquisition closed)
Advisers:	Barclays, Global Investment House, Standard Chartered (Bharti Airtel), BNP Paribas, UBS (Zain)
Lead managers:	Standard Chartered (global coordinator) and 10 other banks.
Price:	195bp over Libor
Tenor:	six years
Dubai World restructuring
Size:	$14.4 billion bank debt
Date:	100% bank support announced October 27
Advisers:	Rothschild (Dubai World), Moelis (Dubai government)
Terms:	no haircut on principal, 1% cash (five-year), 1% cash plus varying shortfall guarantees and 1.5% to 2.5% payment in kind (eight-year)
BP Angola pre-export financing
Size:	$2.5 billion
Date:	syndication launched August 16
Leads:	BNP Paribas, Standard Chartered
Pricing:	undisclosed
Tenor:	five years
Egypt sovereign bond
Size:	$1.5 billion
Date:	priced April 22
Leads:	HSBC, Morgan Stanley
Pricing:	treasuries plus 200bp (10-year), treasuries plus 233bp (30-year)
Coupon:	5.75%