African Award Double at The Banker Deals of the Year 2011 Awards
White & Case advised on two transactions that were each named a "Deal of the Year" in the Africa section of The Banker's Deals of the Year 2011 Awards. The US$1.85 billion (R5.3 billion) initial public offering of Life Healthcare Group Holdings Limited on the Johannesburg Stock Exchange (JSE) won the Africa Equities category, while the US$300 million debut Eurobond issue by PTA Bank, a trade and development bank active in Eastern and Southern Africa, won the Sub-Saharan African Bond category. In addition, our representation of the Federal Republic of Nigeria on its US$500m debut international bond issue was "highly commended".
London partner Allan Taylor and Johannesburg partner Steve Raney, assisted by Dave Gossen in London and Jenifer Schultz in Johannesburg, advised Life Healthcare; and London partner Stuart Matty led the team acting for HSBC and Standard Bank in connection with the PTA bond issue, which included partner Michael Doran and associate Gordon Charlton. Matty also led the deal team advising the Federal Republic of Nigeria.
The awards extend White & Case's record for achieving 'firsts' in the African market, where the Firm has been active for more than 30 years. The PTA Bank Eurobond was the first by an East African issuer, and the Life Healthcare IPO was one of the largest-ever listings on the JSE and the first IPO in South Africa to have a simultaneous share buyback from existing shareholders.