Bank of Moscow Wins Euromoney’s Best Deal of the Year Award
OREANDA-NEWS. May 22, 2008. The Bank of Moscow has won Euromoney magazine’s "Best Deal of the Year" award for the arranging a deal to securitise leasing payments by OAO MOESK in favour of ZAO Business Alliance. The deal was closed in August 2007. Despite the sub-prime crisis, the Eurobonds of over Rub 8 bln worth were placed at an annual rate of 8.875%.
The jury of international investors appreciated the merits of the deal’s innovative structure, notably the facility that, in contrast to the traditional securitisation scheme, provided for the assets to remain on the issuer’s balance.
"The deal is unique in a number of aspects," noted Managing Director of The Bank of Moscow’s Investment Banking business Igor Sukhanov. "It is the first infrastructure project on the international market for the Russian energy sector. Moreover, we came up with such an arrangement scheme to finance infrastructure projects as can be replicated."
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