Awards for Excellence 2016
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Chapel Hill Denham may be largely focused on Nigeria, but in that market it has shown the breadth and quality of its advisory offering. For that reason, the bank deserves to win this year’s African advisory award.
Over the last 12 months, Chapel Hill advised on three important debt capital markets situations, six mergers and acquisitions and four other financial transactions.
Perhaps its outstanding deal in 2015 was the listing of N4.8 trillion ($24 billion) of Nigerian federal government debt, in July. As listing sponsor on that massive operation, Chapel Hill advised the government and led the transaction. The listing improved secondary market liquidity and price discovery. According to the firm, the listing ensured that when Nigeria was removed from JPMorgan’s emerging markets government bond index a couple of months later, as a result of currency controls introduced by the Central Bank of Nigeria, there was minimal turmoil in the domestic bond market. It had been 25 years since the Nigerian government had has its bonds listed on a regulated market.
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In March this year, Chapel Hill also worked, as sole financial adviser, on restructuring N167.5