Subsequent to the successful financial closure for the CNY25.1bln expansion project financing in early September, CSPC received the Best Financing Solution Award in the Adam Smith Awards Asia on 17 Nov 2016.
The Adam Smith Awards Asia is an annual event launched by Treasury Today Asia Magazine in recognition of corporate treasury excellence in Asia. It is the industry benchmark for achievement in corporate treasury. It covers 14 categories including Financing Solution, Cash Management, Liquidity Management and etc.
This year, competition is very strong, with over 200 nominations from 17 countries across a broad range of companies based in the Asia-Pacific region. CSPC is the overall Winner for the Best Financing Solution Award and is the only joint venture featured on the winners’ list. Winners include well-known global players and group companies like General Electric, Alibaba and Lenovo.
CSPC Treasury team led the financing with collaboration from Legal and Commercial, leveraging financing expertise from both shareholders. It is one of the largest projects financing in China this year. The transaction was executed with record speed with very attractive terms to the shareholders.