Capital Markets & ESG Finance Awards 2024
6th February 2024
The Fairmont Hotel, Riyadh
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CAPITAL MARKETS & ESG FINANCE AWARDS

6TH FEBRUARY | THE FAIRMONT, RIYADH

"Recognising the most innovative & ground-breaking deals"

Join the industry's most high-profile figures in celebrating!

Since 2014, GFC Media Group Awards has been recognising the year’s most innovative and ground-breaking deals from Sovereign, Corporate and Financial Institution issuers and borrowers.

The exhaustive selection process involves close examination of deal size, tenor, structure, and distribution; analysis and background of the borrower and their accessibility to financing; with extra credit for those deals demonstrating high quality execution, accessing new pools of liquidity, innovative structuring, and opening-up new markets.

Bringing together the industry’s most high-profile figures, the Capital Markets & ESG Finance AWARDS are an opportunity to raise the profile of the financial markets with the international investment community, and to inspire future issuance by companies.

ENQUIRIES: email Marketing@GFCMediaGroup.com

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2024 AWARD WINNERS:

Sovereign, Supra & Agency Bond Deal of the Year

National Debt Management Center

  • USD10bn Bond
  • Issue Date: January 2023
  • Bookrunner/JLMs: Citi, BNP Paribas, Goldman Sachs, JP Morgan, SNB Capital, Standard Chartered
  • Legal Adviser to the Issuer: Allen & Overy, Khoshaim & Associates
  • Legal Adviser to the JLM’s: Linklaters, Zamakhchary & Co.

Quasi-Sovereign/GRE Bond Deal of the Year

The Public Investment Fund (GACI First Investment Company)

  • USD5.5bn Green Bond
  • Issue Date: February 2023
  • Global Coordinators: Goldman Sachs, JP Morgan, Standard Chartered
  • Active Bookrunners: BNP Paribas, BofA Securities, Citi, First Abu Dhabi Bank, HSBC, Morgan Stanley
  • Passive Bookrunners: CA-CIB, ICBC, Mizuho, SMBC, Société Générale
  • Legal Adviser to the Issuer: Latham & Watkins
  • Legal Advisers to the JLMs: Linklaters, Zamakhchary & Co.

Corporate Bond Deal of the Year

Almarai Company

  • USD750m Sukuk
  • Issue Date: July 2023
  • Global Coordinators: HSBC, Standard Chartered
  • Bookrunners/JLMs: Citi, Dubai Islamic Bank, HSBC, JP Morgan, Standard Chartered
  • Legal Adviser to the Issuer: Allen & Overy, Khoshaim & Associates
  • Legal Adviser to the JLMs: White & Case

Financial Institutions Bond Deal of the Year

Banque Saudi Fransi

  • USD900m Sukuk
  • Issue Date: May 2023
  • Bookrunner/JLMs: Citi, First Abu Dhabi Bank, Goldman Sachs, HSBC, Mizuho, Saudi Fransi Capital
  • Legal Adviser to the Issuer: Linklaters
  • Legal Adviser to the JLMs: Clifford Chance

Syndicated Loan Deal of the Year

Rawabi Energy Company and its Subsidiaries

  • SAR5.615bn & USD416m Dual Currency, Islamic & Conventional, Syndicated Loan
  • Issue Date: July 2023
  • Sole Structuring Bank: HSBC
  • Joint Global Coordinators: Gulf International Bank, HSBC
  • Mandated Lead Arrangers: Alinma Bank, Al Rajhi Bank, Bank Aljazira, Gulf International Bank, Saudi Awwal Bank, Saudi National Bank, Riyad Bank
  • Lead Arranger: First Abu Dhabi Bank
  • Legal Adviser to the Borrower: Simmons & Simmons
  • Legal Adviser to the Mandated Lead Arrangers and Lead Arranger: Linklaters

Local Currency Bond Deal of the Year

ACWA Power

  • SAR1.8bn Senior Unsecured Sukuk
  • Issue Date: February 2023
  • Bookrunner/JLMs: SNB Capital, HSBC
  • Legal Adviser to the Issuer: Norton Rose Fulbright
  • Legal Advisers to the JLMs: Allen & Overy, Khoshaim & Associates

Local Currency Loan Deal of the Year

Ma'aden

  • SAR11.25bn Syndicated Revolving Credit Facility
  • Issue Date: December 2022
  • Bookrunner/JLMs: Alrajhi Bank, Banque Saudi Fransi, Saudi National Bank, Saudi British Bank, Arab National Bank, Gulf International Bank B.S.C Riyadh Branch, Bank AlJazira, Riyad Bank
  • Legal Adviser to the Issuer: Clifford Chance (AS&H)
  • Legal Advisers to the JLMs: Khoshaim & Associates

Local Currency Financial Institutions Deal of the Year

Saudi Real Estate Refinance Company

  • SAR3.5bn Sukuk
  • Issue Date: 28 May 2023
  • Global Coordinators: Al Rajhi Capital, HSBC
  • Bookrunner/JLMs: Alinma Investment, AlJazira Capital, Al Rajhi Capital, HSBC, Riyad Capital
  • Legal Adviser to the Issuer: White & Case
  • Legal Advisers to the JLMs: Allen & Overy, Khoshaim & Associates

Local Currency Corporate Deal of the Year

ROSHN Group

  • SAR6bn Loan
  • Issue Date: December 2022
  • Bookrunner/JLMs: Al Rajhi Bank, Bank Al Bilad, Saudi Awwal Bank
  • Legal Adviser to the Borrower: Roshn Group

ESG Bond Deal of the Year

Saudi Electricity Company

  • 10-year Green USD1.2bn and 30 year USD 800m Senior Unsecured Reg S Sukuk
  • Issue Date: April 2023
  • Global Coordinators: HSBC, JP Morgan, Standard Chartered Bank
  • Green Structuring Agents: HSBC, MUFG, SNB Capital
  • Bookrunner/JLMs: First Abu Dhabi Bank, HSBC, JP Morgan, Mizuho, MUFG, SMBC, Standard Chartered Bank, SNB Capital, Al Rajhi Capital, Saudi Fransi Capital, Abu Dhabi Islamic Bank, Bank of China, ADCB, Natixis, Société Générale
  • Legal Adviser to the Issuer: Clifford Chance
  • Legal Advisers to the JLMs: Allen & Overy, Khoshaim & Associates

ESG Loan Deal of the Year

Al Rajhi Bank

  • USD1.43bn Dual Tranche Sustainable Commodity Murabaha Term Loan
  • Issue Date: August 2023
  • Bookrunner/JLMs: First Abu Dhabi Bank, Mashreq, SMBC
  • Legal Adviser to the Borrower: Hogan Lovells
  • Legal Advisers to the JLMs: Norton Rose Fulbright

Project Finance Deal of the Year

NEOM Residential Communities (Wave 1)

  • Issued: November 2022, February 2023, April 2023, May 2023; Matures: December 2030
  • Bookrunners/JLMs: Alinma Bank, Riyad Bank, SABB, Banque Saudi Fransi and Bank Al Jazira
  • Legal Adviser to the Issuer: Gowling WLG, Nexsoma, Covington, and DLA Piper
  • Legal Adviser to the JLMs: Bracewell, Pinsent Masons and Allen & Overy
  • Advisor: Synergy Consulting Infrastructure and Financial Advisory Services, MayCap Advisers, Cranmore Partners and RAM Inc Partners
  • Sponsors: Alfanar Company, Tamasuk Holding Company, Nesma Company Limited, Almutlaq

Structured Finance Deal of the Year

Nakhla for Information Technology Systems LLC (Tamara)

  • USD350m Securitisation
  • Issue Date: March 2023/ September 2023
  • Bookrunner/JLMs: Goldman Sachs
  • Bookrunner/JLMs Legal Advisers: White & Case

Infrastructure Finance Deal of the Year

Saudi Aramco

  • USD430m and SAR490m Loan
  • Issue Date: September 2023
  • Bookrunner/JLMs: Alinma Bank, Riyad Bank
  • Legal Adviser to the Borrower: DLA Piper
  • Legal Advisers to the JLMs: Eversheds Sutherland

Power Finance Deal of the Year

Saudi Electricity Company

  • USD3bn Syndicated Islamic Facility
  • Issue Date: October 2023
  • Bookrunner/JLMs: Dubai Islamic Bank, Kuwait Finance House, Mashreq, Saudi National Bank
  • Legal Adviser to the Issuer: Allen & Overy
  • Legal Advisers to the JLMs: Clifford Chance

Transport Finance Deal of the Year

AviLease

  • USD1.1bn Syndicated Loan
  • Issue Date: May 2023
  • Bookrunner/JLMs: ADCB, Alrajhi Bank, Banque Saudi Fransi, Citi, Dubai Islamic Bank, First Abu Dhabi Bank, Gulf International Bank, HSBC, Riyad Bank, Saudi Awwal Bank, Saudi National Bank
  • Legal Adviser to the Borrower: Allen & Overy
  • Legal Advisers to the JLMs: Clifford Chance

Natural Resources Deal of the Year

Neom Green Hydrogen Company

  • Total Investment value: USD 8.4 bn
  • USD6.1bn non recourse loan
  • Issue Date: December 2022
  • Bookrunner/JLMs: ADCB, Alinma Bank, APICORP, Banque Saudi Fransi, BNP Paribas, CA-CIB, DZ Bank, First Abu Dhabi Bank, HSBC, JP Morgan, KFW IPEX-Bank, Mizuho, MUFG, Natixis, Norinchukin Bank, Riyad Bank, Saudi British Bank, Saudi National Bank, SMBC, Standard Chartered Bank, National Development Fund, SIDF, KDB Bank.
  • Legal Adviser to the Borrower: White & Case
  • Legal Advisers to the JLMs: Allen & Overy, Khoshaim & Associates

ECA, DFI, IFI Deal of the Year

The Islamic Development Bank

  • USD1.75bn Sukuk
  • Issue Date: October 2023
  • Matures: 3 October 2028
  • Bookrunner/JLMs: Barclays, BNP Paribas, Dubai Islamic Bank, First Abu Dhabi Bank, JP Morgan, Mizuho, Natixis, Standard Chartered, The Islamic Corporation for the Development of the Private Sector
  • Legal Adviser to the Issuer: Dentons
  • Legal Adviser to the JLMs: Allen & Overy

Real Estate Finance Deal of the Year

ROSHN Group

  • SAR6bn Loan
  • Issue Date: December 2022
  • Bookrunner/JLMs: Al Rajhi Bank, Bank Al Bilad, Saudi Awwal Bank
  • Legal Adviser to the Borrower: Roshn Group

Acquisition Finance Deal of the Year

STC - (For Telecommunication Towers (TAWAL, a subsidiary of STC Group)

  • USD1.42 billion Syndicated Islamic Term Finance Loan Facility
  • Issue Date: August 2023
  • Bookrunner/JLMs: Dubai Islamic Bank, First Abu Dhabi Bank, Saudi National Bank,
  • Legal Adviser to the Borrower: Clifford Chance
  • Legal Advisers to the JLMs: Allen & Overy

Oil & Gas Finance Deal of the Year

GreenSaif Pipelines Bidco S.à r.l.

  • (i.) USD11.5bn GMTN Programme by GreenSaif Pipelines BidCo S.à r.l (as Issuer) and the issuance of USD3bn notes under the GMTN Programme; and (ii)USD1.5bn Sukuk issued by TMS Issuer S.à r.l, a SPV set up by Blackrock for the Sukuk issuance
  • Issue Date: February 2023
  • Matures: None
  • Global Coordinators: BNP Paribas, HSBC, JP Morgan
  • Bookrunner/JLMs: ABCI Capital, ADCB, Al Rajhi Capital, Aljazira Capital, Bank of China, BNP Paribas, BofA Securities, CA-CIB, Citi, China Construction Bank, First Abu Dhabi Bank PJSC, GIB Capital, HSBC, JP Morgan, Mizuho, MUFG (Mitsubishi UFJ Financial Group), Natixis, Riyad Capital, SMBC Nikko, SNB Capital, Société Générale, Standard Chartered Bank
  • Legal Adviser to the Issuer: Linklaters LLP, Loyens Loeff Luxembourg, Al Tamimi Company, Simpson Thacher Bartlett LLP
  • Legal Adviser to the Bookrunner/JLMs: Arendt Medernach SA, Khoshaim & Associates, Milbank LLP

International Equity Capital Markets Deal of the Year

Saudi Aramco Base Oil Company – Luberef

  • SAR4.95bn IPO
  • Issue Date: December 2022
  • Bookrunner/JLMs: Citi, HSBC, Morgan Stanley, SNB Capital
  • Legal Adviser to the Issuer/Borrower: Khoshaim & Associates, Cleary Gottlieb Steen Hamilton
  • Legal Advisers to the JLMs: Latham & Watkins

Local Equity Capital Markets Deal of the Year

Jamjoom Pharmaceuticals

  • SAR1.26bn IPO
  • Issue Date: June 2023
  • Bookrunner/JLMs: AlRajhi Capital, JP Morgan, Saudi Fransi Capital
  • Legal Adviser to the Issuer: Baker Mackenzie
  • Legal Advisers to the JLMs: White & Case

M&A Deal of the Year

TAQA Saudi Arabia

  • Cross border M&A
  • Adviser: HSBC

Islamic Capital Markets Deal of the Year

The Public Investment Fund (SUCI Second Investment Company)

  • USD3.5bn Sukuk
  • Issue Date: October 2023
  • Global Coordinators: Citi, HSBC, JP Morgan, Standard Chartered
  • Sukuk Structuring Banks: Al Rajhi Capital, Emirates NBD Capital, HSBC, Standard Chartered
  • Active Bookrunners: Al Rajhi Capital, BofA Securities, CA-CIB, Deutsche Bank, Emirates NBD Capital, First Abu Dhabi Bank, Goldman Sachs, Mizuho
  • Passive Bookrunners: Albilad Capital, Bank of China, BNP Paribas, MUFG, SMBC
  • Legal Adviser to the Issuer: Linklaters, Zamakhchary & Co.
  • Legal Advisers to the JLMs: Allen & Overy, Khoshaim & Associates

Sukuk Deal of the Year

The Public Investment Fund (SUCI Second Investment Company)

  • USD3.5bn Sukuk
  • Issue Date: October 2023
  • Global Coordinators: Citi, HSBC, JP Morgan, Standard Chartered
  • Sukuk Structuring Banks: Al Rajhi Capital, Emirates NBD Capital, HSBC, Standard Chartered
  • Active Bookrunners: Al Rajhi Capital, BofA Securities, CA-CIB, Deutsche Bank, Emirates NBD Capital, First Abu Dhabi Bank, Goldman Sachs, Mizuho
  • Passive Bookrunners: Albilad Capital, Bank of China, BNP Paribas, MUFG, SMBC
  • Legal Adviser to the Issuer: Linklaters, Zamakhchary & Co.
  • Legal Advisers to the JLMs: Allen & Overy, Khoshaim & Associates

Liability Management Deal of the Year

National Debt Management Center

  • SAR35.957bn Liability Management
  • Issue Date: August 2023
  • Bookrunner/JLMs: Al Rajhi, Bank AlJazira, HSBC, SNB Capital
  • Legal Advisers to Dealer Managers: White & Case

High Yield Debt Deal of the Year

Dar Al Arkan

  • USD600m Senior Unsecured Sukuk
  • Issue Date: July 2023
  • Bookrunner/JLMs: ADCB, Alkhair Capital, Al Rayan Investment, Commercial Bank of Dubai, Emirates NBD Capital, First Abu Dhabi Bank, JP Morgan, Mashreq, Sharjah Islamic Bank, Standard Chartered, Warba Bank
  • Legal Adviser to the Issuer: Latham & Watkins
  • Legal Advisers to the JLMs: Allen & Overy, Khoshaim & Associates

Leveraged Finance Deal of the Year

Hassana Investment Company

  • USD1.365bn Loan
  • Issue Date: May 2023
  • Bookrunner/JLMs: Emirates NBD Capital, First Abu Dhabi Bank

Ground-breaking Deal of the Year

GreenSaif Pipelines Bidco S.à r.l.

  • (i.) USD11.5bn GMTN Programme by GreenSaif Pipelines BidCo S.à r.l (as Issuer) and the issuance of USD3bn notes under the GMTN Programme; and (ii)USD1.5bn Sukuk issued by TMS Issuer S.à r.l, a SPV set up by Blackrock for the Sukuk issuance
  • Issue Date: February 2023
  • Global Coordinators: BNP Paribas, HSBC, JP Morgan
  • Bookrunner/JLMs: ABCI Capital, ADCB, Al Rajhi Capital, Aljazira Capital, Bank of China, BNP Paribas, BofA Securities, CA-CIB, Citi, China Construction Bank, First Abu Dhabi Bank PJSC, GIB Capital, HSBC, JP Morgan, Mizuho, MUFG (Mitsubishi UFJ Financial Group), Natixis, Riyad Capital, SMBC Nikko, SNB Capital, Société Générale, Standard Chartered.
  • Legal Adviser to the Issuer: Linklaters LLP, Loyens Loeff Luxembourg, Al Tamimi Company, Simpson Thacher Bartlett LLP
  • Legal Adviser to the Bookrunner/JLMs: Arendt Medernach SA, Khoshaim & Associates, Milbank LLP

Investment Bank of the Year

HSBC

Debt (Bonds & Loans) House of the Year

Standard Chartered Bank

Corporate Bond House of the Year

HSBC

Financial Institution Bond House of the Year

Standard Chartered Bank

Local Currency Debt House of the Year

HSBC

Loan House of the Year

SMBC

ESG Bond House of the Year

HSBC

Leveraged Finance House of the Year

First Abu Dhabi Bank

Structured Finance House of the Year

HSBC

Project Finance Bank of the Year

HSBC

Local Equity Capital Markets House of the Year

Saudi Fransi Capital

International Equity Capital Markets House of the Year

HSBC

Sukuk House of the Year

Standard Chartered Bank

Quasi-Sovereign/GRE Treasury & Funding Team of the Year

The Public Investment Fund

Bank Treasury & Funding Team of the Year

Saudi National Bank

Corporate Treasury & Funding Team of the Year

Saudi Electricity Company

Debt Capital Markets Legal Adviser of the Year

Allen & Overy

Equity Capital Markets Legal Adviser of the Year

STAT Law Firm

Sukuk Legal Adviser of the Year

Linklaters

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AWARD CATEGORIES

Deal of the Year Awards Awards for Excellence
Sovereign, Supra & Agency Bond Deal of the Year Investment Bank of the Year
Quasi-Sovereign/GRE Bond Deal of the Year Debt (Bonds & Loans) House of the Year
Corporate Bond Deal of the Year Corporate Bond House of the Year
Financial Institutions Bond Deal of the Year Financial Institutions Bond House of the Year
Syndicated Loan Deal of the Year Local Currency Debt House of the Year
Local Currency Bond Deal of the Year Loan House of the Year
Local Currency Loan Deal of the Year ESG Bond House of the Year
Local Currency Financial Institutions Deal of the Year ESG Loan House of the Year
Local Currency Corporate Deal of the Year High Yield Debt House of the Year
ESG Bond Deal of the Year Leveraged Finance House of the Year
ESG Loan Deal of the Year Structured Finance House of the Year
Project Finance Deal of the Year Project Finance Bank of the Year
Structured Finance Deal of the Year Local Equity Capital Markets House of the Year
Infrastructure Finance Deal of the Year International Equity Capital Markets House of the Year
Power Finance Deal of the Year Sukuk House of the Year
Transport Finance Deal of the Year Quasi-Sovereign/GRE Treasury & Funding Team of the Year
Natural Resources Finance Deal of the Year Bank Treasury & Funding Team of the Year
ECA, DFI, IFI Deal of the Year Corporate Treasury & Funding Team of the Year
Real Estate Finance Deal of the Year Project Sponsor of the Year
Acquisition Finance Deal of the Year Debt Capital Markets Legal Adviser of the Year
Oil & Gas Finance Deal of the Year Banking & Finance Legal Adviser of the Year
International Equity Capital Markets Deal of the Year Equity Capital Markets Legal Adviser of the Year
Local Market Equity Capital Markets Deal of the Year Sukuk Legal Adviser of the Year
M&A Deal of the Year
Islamic Capital Markets Deal of the Year
Sukuk Deal of the Year
Liability Management Deal of the Year
High Yield Debt Deal of the Year
Leveraged Finance Deal of the Year
Ground-breaking Deal of the Year

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