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Lloyds TSB Corporate Markets
Over 100 treasurers and finance directors from leading FTSE and European corporates and banks recently attended the Association of Corporate Treasurers’ Deals of the Year awards. The exclusive dinner and awards ceremony was held in the splendid surroundings of Drapers Hall, London. Now in their tenth year, the awards celebrate excellence and innovation in treasury and it is the fourth year that Lloyds TSB Corporate Markets has sponsored the awards.
Diana Brightmore-Armour, Managing Director, Corporate Banking, was guest speaker and presented the awards alongside Malcolm Cooper, President of the ACT.
Diana said: “This event is a well renowned benchmark for best practice across the industry and Lloyds TSB Corporate Markets is delighted to support the ACT and its members through its sponsorship. If ever there was any doubt about the commitment and skill of UK corporate treasurers in funding their companies, the past year will have put it to rest. This year the funding challenges are set to continue, but as awards such as these demonstrate so powerfully, both corporates and banks are well equipped to overcome any obstacles”.
Seven out of the eight winners were Lloyds TSB Corporate Markets customers - Lloyds TSB acted as Mandated Lead Arranger, Bookrunner and Facility Agent on the Cookson plc. transaction that won the UK large corporate loan award. Lloyds TSB also acted as Mandated Lead Arranger on Management Consulting Group's deal that won in the UK mid-market loans category and the Enodis deal was highly commended in the Bond category.
From the panel, Ian Fitzgerald, Managing Director and Head of Loan Syndicate, Lloyds TSB Corporate Markets commented on Cookson :
"This deal was particularly significant because of its timing. The success of this transaction signaled to other banks and corporates that the lending markets were still open during a very difficult period. Credit must go to the commitment of the treasury team for getting deeply involved in a transaction that was within shouting distance of the company's market capitalisation."
Ian Fitzgerald additionally commented on the MCG deal:
"This deal was particularly notable because it was oversubscribed at a time when investor confidence was low - ultimately allowing MCG to increase its relationship pool from one to three core banks."
For more details on the awards: Visit the ACT website.
Published 23 January 2008