NORD/LB wins award for public private partnerships
NORD/LB Norddeutsche Landesbank is this year's winner of the gold Partnership Award in the category Debt Provider of the Year. The awards are given annually by Partnerships Bulletin – one of the most prestigious magazines in the sector – in recognition of the worldwide best public private partnership (PPP) projects, this time for those of 2016. This was the 19th year of the awards which saw more than one hundred PPP projects from Europe, Africa, the Middle East, Australia and Asia submitted in 18 different categories. NORD/LB came out as winner ahead of international heavyweights such as Allianz Global Investors, Mitsubishi UFJ Financial Group or the Sumimoto Mitsui Banking Corporation Group. In its decision the jury mentioned, among other things, the fact that customers on both the public as well as private sector sides were extremely satisfied with their cooperation with NORD/LB.
NORD/LB closed 21 PPP transactions last year as mandated lead arranger or as sole arranger across a diverse range of sectors. The laudation states that "the financing is enabled by a relatively small but highly dedicated team. The bank continues to develop alternative ways to provide competitively priced, long-term finance to deliver PPP projects. NORD/LB's model is focused on developing and maintaining long-term and strong business relationships (…)."
The jury also acknowledges that NORD/LB has played an important role in the forward progress of the PPP market through its creative and flexible engagement in working for changes to standard form documentation. As a result, PPP projects have no negative impacts on the budgets of the partners on the public sector side due to the stringent Eurostat regulations. The jury also praises the fact that NORD/LB makes sure to assist regional institutions and municipalities by way of its project selection and thus makes an important contribution to the development of society.
"What makes us particularly proud of this award is the fact that we as regional bank from North Germany are holding our own in a much larger, international league," comments Günter Tallner, member of the NORDLB Managing Board. "In the world of sport it would be said that we are punching above our weight. I am delighted that the hard work of the colleagues at NORD/LB is being given international recognition."
With total assets of EUR 176 billion, NORD/LB Norddeutsche Landesbank is one of Germany’s leading merchant banks. Its core business segments include structured finance in the energy and infrastructure sector, ship and aircraft finance, corporate client business, commercial real estate finance, capital market business and private and commercial client business. The Bank has headquarters in Hanover, Braunschweig and Magdeburg as well as offices in Düsseldorf, Hamburg, Munich, Schwerin and Stuttgart. Outside Germany, NORD/LB is active in Luxembourg with a covered bond bank (NORD/LB Covered Bond Bank) and also has offices in London, New York, Singapore and Shanghai.
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