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Bonds, Loans & Sukuk Middle East Awards: The Finalists

After hundreds of nominations and votes, the top 3 deals from each category in the Bonds, Loans & Sukuk Middle East Awards have now been announced. A Winners Selection Committee formed of 20 of the most influential international investors from the banking and finance community will now judge which deal they think should win. The final winners will be revealed at an Awards ceremony taking place on the 7th December at the Park Hyatt, Dubai.

Oct 18, 2016 // 1:11PM

Syndicated Loan Deal of the Year:

Bahrain Steel

June 2016
US$400,000,000
Fully underwritten 7-year Syndicated Term Loan and Revolving Credit Facilities due in June 2023

  • Global Coordinators, Bookrunners and Structuring Banks: Bank ABC, Mashreq, HSBC,
  • Mandated Lead Arrangers: Al Khalij Commercial Bank (al khaliji), BNP Paribas
  • Lead Arrangers: State Bank of India, Doha Bank, Ahli Bank of Kuwait, IDBI Bank, Arab Bank
  • Legal Advisor to Borrower: Baker & McKenzie
  • Legal Advisor to Joint Lead Managers: Norton Rose

Banque Misr

December 2015
US$250,000,000
Syndicated Term Loan Facility due in December 2018

  • Global Coordinator, Mandated Lead Arranger & Security Agent: Bank ABC
  • Mandated Lead Arrangers: EmiratesNBD, HSBC, Mashreq, Union National Bank, al khaliji,
  • Lead Arrangers: United Bank Limited, Blom Bank Egypt, Standard Chartered Bank, DIFC, Banque Marocaine du Commerce Exterieur International
  • Legal Advisor to Borrower: Banque Misr In-house Counsel
  • Legal Advisor to Joint Lead Managers: Dentons

EQUATE

December 2015
US$6,000,000,000
Conventional and Islamic dual-tranche Acquisition Bridge Loan due in December 2016

  • Sponsors: Dow Chemicals, PIC Kuwait
  • Mandated Lead Arranger & Financial Advisor: Citi
  • Mandated Lead Arrangers: JP Morgan, HSBC, NBK, KFH
  • Legal Advisor to Borrower: Latham & Watkins
  • Legal Advisor to Joint Lead Manager: Linklaters

Syndicated Loan Deal of the Year by a Debut Borrower:

Electricity Holding Company

Mazoon, Majan, Dhofar

September 2015, April 2016, June 2016
US$1,213,780,000 (Dhofar: $260,000,000 / Majan: $330,000,000/ Mazoon: $623,780,000)
Multi-tranche syndicated loan due in 2026

  • Mandated Lead Arrangers: JP Morgan, Bank Muscat Investment Banking
  • Participating Banks for Majan Electricity, Mazoon Electricity & Dhofar Power: Arab Banking Corporation, Arab Petroleum Investments Corporation, Abu Dhabi Commercial Bank, Ahli United Bank, Ahli Bank Oman, Export Development Canada
  • Participating Banks for Majan Electricity & Mazoon Electricity: National Commercial Bank
  • Participating Banks for Mazoon Electricity & Dhofar Power: Bank Dhofar, Qatar National Bank
  • Participating Banks for Majan Electricity & Dhofar Power: Industrial & Commercial Bank of China, Union National Bank, Bank of Bahrain and Kuwait
  • Participating Banks for Majan Electricity: Bank of China, Al Khaliji Commercial Bank
  • Participating Banks for Mazoon Electricity: Bank Sohar, Gulf International Bank, First Gulf Bank, National Bank of Kuwait, MUFG, Oman Arab Bank, Bank Muscat
  • Participating Banks for Dhofar Power: Arab Bank, Europe Arab Bank, NBAD
  • Financial Model Auditor: KPMG
  • Legal Advisor to Borrower: Dentons
  • Legal Advisor to Joint Lead Managers: Latham & Watkins, Al Busaidy, Mansoor Jamal & Co

Emirates Global Aluminium

February 2016
US$4,900,000,000
Fully Underwritten and Syndicated Term Loan due in December 2022

  • Underwriters and Bookrunners: Citi, ING, BNP Paribas, Natixis, National Bank of Abu Dhabi, Emirates NBD, Dubai Islamic Bank, Export Development Canada
  • Mandated Lead Arrangers: FGB, Kuwait Finance House, APICORP, Mashreq
  • Participating Banks: Intesa San Paolo IMI, ABN Amro, Societe Generale, Arab Bank, International Bank of Qatar, National Commercial Bank
  • Legal Advisor to Borrower: Allen & Overy
  • Legal Advisor to Joint Lead Managers: Clifford Chance

Taghleef

May 2016
EUR €355,000,000
Dual-currency, triple-tranche conventional Term Loan B and revolving credit facility due in May 2023

  • Global Coordinator & Bookrunner: Credit Suisse
  • Mandated Lead Arrangers & Bookrunners: Barclays, HSBC, Rabobank
  • Mandated Lead Arrangers: Banca Monte Dei Paschi Di Siena, BBVA
  • Lead Arranger: Unicredit
  • Security Agent: Wilmington Trust
  • Financial Advisor: Perella Weinberg
  • Legal Advisor to Borrower: Gibson Dunn
  • Legal Advisor to Joint Lead Managers: Latham & Watkins

Local Currency Deal of the Year:

National Bank of Kuwait

November 2015
KWD125,000,000
4.750% Subordinated Tier II Basel III-compliant 10NC5 Bonds due in November 2025

  • Mandated Lead Arrangers: NBK Capital, KAMCO
  • Security Agent: Kuwait Clearing Company
  • Legal Advisor: Al Ruwayeh & Partners (ASAR)

Network International (ENBD/GA/WP)

May 2016
AED606,000,000, US$ 155,000,000,000, AED110,000,000
Dual Currency, Multi-Tranche Financing Facility for Acquisition of Emerging Markets Payments Group (EMP) due in May 2022

  • Sponsors: Emirates NDB, Warburg Pincus, General Atlantic
  • Sole Coordinator & Sole Underwriter: Citi
  • Mandated Lead Arrangers: ADCB, Arab Bank, Commercial Bank International, CBQ, FGB, Noor Bank, Union National Bank
  • Legal Advisor to Borrower: Freshfields
  • Legal Advisor to Joint Lead Managers: Latham & Watkins

Sultanate of Oman

November 2015
OMR 250,000,000
3.500% Sukuk due in November 2020

  • Mandated Lead Arrangers: Standard Chartered Bank, Bank Muscat
  • Shari’ah Advisor: Meethaq
  • Legal Advisors to Obligor: Linklaters
  • Legal Advisor to Issuer: Trowers & Hamlins
  • Legal Advisors to Joint Lead Managers: Allen & Overy, AlBusaidy, Mansoor Jamal & Co

Trade & Export Finance Deal of the Year

Egyptian Electricity Holding Company ("EEHC")

March 2016
€3,527,057,007
ECA-financing for 3x4,800 CCPP at Beni Suef, Burullus and New Capital due in March 2031

  • ECA: Euler Hermes
  • EPC Contractors: Siemens AG, Orascom Construction, El Sewedy Electric
  • Coordinating Initial Mandated Lead Arranger, Coordinating Bookrunner and Environmental Bank: Deutsche Bank
  • Coordinating Initial Mandated Lead Arranger, Documentation Bank and Environmental Bank: HSBC
  • Coordinating Initial Mandated Lead Arranger and Facility Agent: KfW IPEX-Bank
  • Mandated Lead Arrangers:  Banco Santander, Commerzbank, Crédit Agricole, ING Bank, JP Morgan, LBBW, Société Générale, UniCredit
  • Lead Arrangers: AKA Ausfuhrkredit, Bayern LB, BNP Paribas, DZ Bank, Helaba
  • Arranger:  IKB Deutsche Industriebank
  • Legal Advisors for Joint Lead Managers:  Allen & Overy, Zaki Hashem

Landmark Retail

July 2015
US$131,000,000
ECA-backed Financing Facility due in 2028

  • ECA: Euler Hermes
  • Mandated Lead arranger: HSBC
  • Legal Advisor for Borrower: Landmark Retail In-House Legal Team
  • Legal Advisor for Joint Lead Managers: Dentons

 

Petroleum Development Oman

June 2016
US$4,000,000,000
Senior Secured Pre-Export Finance Term Loan Facility due in June 2021

  • Sponsors: MOF Oman, Ministry of Oil & Gas
  • International Financial Advisor, Mandated Lead Arranger and Bookrunner: HSBC
  • Initial Mandated Lead Arrangers and Bookrunners: Bank of China, ING, Intesa SanPaolo IMI, JPMorgan, National Bank of Abu Dhabi, Natixis, Societe Generale, Standard Chartered Bank, SMBC
  • Legal Advisor to Borrower: Allen & Overy
  • Legal Advisors to Joint Lead Managers: Dentons, Herbert Smith Freehills, Nauta Dutilh

Project Finance Deal of the Year:

Ad-Dhahirah Generating Company & Shinas Generating Company

June 2016
US$1,375,000,000
Ibri/Sohar3 IPP Limited Recourse Project Finance due in June 2033

  • Concessionaire: Oman Power and Water Procurement Company (OPWP)
  • Sponsors: Mitsui & Co, ACWA Power, Dhofar International Development and Investment Holding Corporation (DIDIC)
  • Mandated Lead Arranger & Security Agent for Ibri: BNP Paribas
  • Mandated Lead Arranger & Security Agent for Sohar 3: MUFG
  • Mandated Lead Arrangers: Bank Muscat, Bank Dhofar, KfW IPEX-Bank, Mizuho Bank, MUFG, Standard Chartered Bank, SMBC, Sumitomo Mitsui Trust Bank
  • Technical Advisor: Poyry
  • Environmental Advisor: 5 Capitals
  • Model Auditor: BDO
  • Broker: Marsh
  • Lender Insurance Advisor: Indecs
  • Legal Advisors to Borrower: Allen & Overy, Trowers & Hamlins,
  • Legal Advisors to Joint Lead Managers: Shearman & Sterling, Al Busaidy Mansoor

Liwa Plastics (Orpic Plastics)

January 2016
US$6,400,000,000
Multi-Tranche Project Financing Facility due in 2032

  • ECAs: UKEF, KEXIM, Atradius, SACE, Hermes
  • Mandated Lead Arrangers: Bank ABC, Bank Dhofar, Bank Muscat, MUFG, BNP Paribas, Cassa depositi e prestiti spa, Credit Industriel et Commercial, Credit Agricole, Export Development Canada, HSBC, ING, JPMorgan, KfW IPEX-Bank, The Korea Development Bank, Natixis, National Commercial Bank, Societe Generale, SMBC, UniCredit,
  • Technical & Market Advisor: Nexant
  • Insurance Advisor: JLT
  • Legal Advisor to Borrower: Allen & Overy
  • Legal Advisor to Joint Lead Managers: White & Case, Dentons, Al Busaidy, Mansoor Jamal & Co

Six Flags Dubai

February 2016
AED 993,000,000
Multi-Tranche Structured Project Financing Facility due in June 2027

  • Sponsor: Dubai Parks & Resorts
  • Mandated Lead Arranger & Security Agent: ADCB,
  • Mandated Lead Arranger & Investment Agent: Dubai Islamic Bank
  • Mandated Lead Arranger: Sharjah Islamic Bank
  • Legal Advisor to Issuer: Allen & Overy
  • Legal Advisor to Joint Lead Managers: Linklaters

Structured Finance Deal of the Year:

Alia - The Royal Jordanian Airlines

December 2015
US$ 275,000,000
Syndicated Conventional /Shari’ah compliant Senior Secured Term Loan Facility due in December 2020

  • Global Coordinator, Mandated Lead Arranger & Bookrunner: Mashreq
  • Mandated Lead Arrangers: al khaliji, Arab Bank, Dubai Islamic Bank, CBQ,
  • Lead Arrangers: Bank al-Etihad, Arab Jordan Investment Bank
  • Legal Advisor to Borrower: The Law Office of Hani Kurdi
  • Legal Advisor to Joint Lead Managers: Dentons

Six Flags Dubai

February 2016
AED 993,000,000
Multi-Tranche Structured Project Financing Facility due in June 2027

  • Sponsor: Dubai Parks & Resorts
  • Mandated Lead Arranger & Security Agent: ADCB,
  • Mandated Lead Arranger & Investment Agent: Dubai Islamic Bank,
  • Mandated Lead Arranger: Sharjah Islamic Bank
  • Legal Advisor to Borrower: Allen & Overy
  • Legal Advisor to Joint Lead Managers: Linklaters

Warburg Pincus/General Atlantic (WP/GA IV)

December 2015
AED551,000,000 and US$125,000,000
Syndicated Acquisition Financing Facility due in May 2021

  • Mandated Lead Arrangers, Underwriters & Bookrunners: Citi, Commercial Bank International, FGB
  • Legal Advisor to Borrower: Freshfields
  • Legal Advisor to Joint Lead Managers: Latham & Watkins

Sovereign/Quasi-Sovereign Financing Deal of the Year:

Islamic Corporation for the Development of the Private Sector (ICD)

April 2016
US$300,000,000
2.468% Trust Certificates due in April 2021

  • Bookrunners: Bank ABC, Boubyan Bank, CIMB, Dubai Islamic Bank, EmiratesNBD, FGB, HSBC, Noor Bank, Warba Capital, Mizuho, Societe Generale CIB, Standard Chartered Bank
  • Legal Advisor to Obligor: Norton Rose
  • Legal Advisor to the Issuer: Walkers
  • Legal Advisor to Joint Lead Managers: Dentons

State of Qatar

May 2016
US$9,000,000,000
2.375%, 3.250% and 4.625% Triple tranche Bond Offering due in June 2021, June 2026 and June 2046

  • Global Coordinators: JPMorgan, HSBC, MUFG, QNB Capital
  • Bookrunners: Al Khalij Commercial Bank (al khaliji), Barclays, Bank of America Merrill Lynch, Deutsche Bank, Mizuho Securities, SMBC Nikko
  • Legal Advisor to Issuer: White & Case
  • Legal Advisor to Joint Lead Managers: Skadden

Sultanate of Oman

June 2016
US$2,500,000,000
3.625% and 4.750% Dual Tranche Bond Offering due in June 2021 and June 2026

  • Mandated Lead Arrangers: Citi, JPMorgan, MUFG, National Bank of Abu Dhabi, Natixis
  • Financial Advisor: Lazard
  • Legal Advisor to Issuer: Clifford Chance, AlBusaidy, Mansoor Jamal & Co
  • Legal Advisor to Joint Lead Managers: Linklaters, Dentons

Private Sector Financing Deal of the Year

Bahrain Steel

June 2016
US$400,000,000
Fully Underwritten and Syndicated dual tranche Term Loan and Revolving Credit Facilities due in June 2023

  • Global Coordinators, Bookrunners & Structuring Banks: Bank ABC, HSBC, Mashreq
  • Mandated Lead Arrangers: Al Khaliji Commercial Bank (al khaliji), BNP Paribas
  • Lead Arrangers: State Bank of India, Doha Bank, Ahli Bank of Kuwait, IDBI Bank, Arab Bank
  • Legal Advisor to Borrower: Baker & McKenzie
  • Legal Advisor to Joint Lead Managers: Norton Rose

Ezdan Holding Group

May 2016
US$500,000,000
4.375% Trust Certificates due May 2021

  • Global Coordinators & Bookrunners: HSBC, Mashreq
  • Bookrunners: Abu Dhabi Islamic Bank, Barwa Bank, EmiratesNBD, Qatar First Bank, Qinvest
  • Legal Advisor to Obligor: Allen & Overy
  • Legal Advisor to Issuer: Maples & Calder
  • Legal Advisor to Joint Lead Managers: Linklaters

OSN

August 2015
US$400,000,000
Dual tranche Syndicated Term Loan and Revolving Credit Facility due in August 2020

  • Global Coordinators, Bookrunners & Structuring Banks: Barclays, BNP Paribas, Mashreq
  • Mandated Lead Arrangers: Citi, Commercial Bank of Dubai, FGB, HSBC, National Bank of Kuwait, Societe Generale,
  • Lead Arrangers: Credit Suisse, JPMorgan
  • Legal Advisor to Borrower: Gibson Dunn
  • Legal Advisor to Joint Lead Managers: Clifford Chance

Financial Institution Financing Deal of the Year

Bank of Bahrain and Kuwait (BBK)

May 2016
BHD100,000,000
8.250% Perpetual Subordinated Contingent Convertible Additional Tier 1 Bond

  • Mandated Lead Arranger: SICO Investment Bank
  • Auditors: Ernst & Young
  • Calculation Agent & Receiving Bank: BBK
  • Legal Advisors: Trowers & Hamlins, Elham Ali Hassan & Associates

Boubyan Bank

May 2016
US$250,000,000
6.750% Perpetual Non-Call5 Additional Tier 1 Sukuk

  • Global Coordinators: Boubyan Capital, HSBC, Standard Chartered
  • Lead Arrangers: Dubai Islamic Bank, EmiratesNBD, KFH Capital, National Bank of Kuwait
  • Legal Advisor to Obligor: Dentons
  • Legal Advisor to Issuer: Maples
  • Legal Advisor to Joint Lead Managers: Allen & Overy

Emirates Islamic Bank

May 2016
US$750,000,000
3.542% Trust Certificates due in May 2021

  • Global Coordinators & Mandated Lead Arrangers: Emirates Islamic Bank, Standard Chartered
  • Mandated Lead Arrangers: Al Hilal, Bank ABC, Dubai Islamic Bank, Emirates NBD, HSBC, Maybank, Noor Bank
  • Legal Advisor to Obligor: Clifford Chance
  • Legal Advisor to Issuer: Turners
  • Legal Advisor to Joint Lead Managers: Allen & Overy

Sub-Investment Grade Bond/Sukuk Deal of the Year:

Kingdom of Bahrain

February 2016
US$600,000,000
5.875% and 8.700% Dual-tranche tap due in January 2021 and January 2026

  • Bookrunners: Bank ABC, BNP Paribas, Citi, HSBC, JPMorgan
  • Legal Advisors to Issuer: Baker & McKenzie
  • Legal Advisor to Joint Lead Managers: Allen & Overy

National Bank of Oman

November 2015
US$300,000,000
7.875% Perpetual Non-Call 5 Additional Tier 1 Bond 

  • Global Coordinators & Bookrunners: National Bank of Abu Dhabi, Standard Chartered Bank
  • Bookrunners: Bank of America Merrill Lynch, Citi, Credit Agricole, National Bank of Oman
  • Legal Advisor to Issuer: Dentons
  • Legal Advisors to Joint Lead Managers: Clifford Chance, AlBusaidy, Mansoor Jamal & Co

Noor Bank

May 2016
US$500,000,000
6.25% Perpetual Non-Call 5 Additional Tier 1 Sukuk

  • Global Coordinators & Mandated Lead Arrangers: Citi, Standard Chartered Bank
  • Mandated Lead Arrangers & Bookrunners: Dubai Islamic, EmiratesNBD, FGB, Noor Bank, Sharjah Islamic Bank
  • Lead Arrangers: Ajman Bank, UNB
  • Legal Advisor to Issuer: Maples & Calder
  • Legal Advisor to Obligor: Allen & Overy
  • Legal Advisor to Joint Lead Managers: Latham & Watkins

Bond/Sukuk Deal of the Year by a Debut Issuer:

Boubyan Bank

May 2016
US$250,000,000
6.750% Perpetual Non-Call 5 Additional Tier 1 Sukuk

  • Global Coordinators: Boubyan Capital, HSBC, Standard Chartered
  • Lead Arrangers: Dubai Islamic Bank, EmiratesNBD, KFH Capital, National Bank of Kuwait
  • Legal Advisor to Obligor: Dentons
  • Legal Advisor to Issuer: Maples
  • Legal Advisor to Joint Lead Managers: Allen & Overy

Ezdan Holding Group

May 2016
US$500,000,000
4.375% Trust Certificates due in May 2021

  • Global Coordinators: HSBC, Mashreq
  • Bookrunners: Abu Dhabi Islamic Bank, Barwa Bank, EmiratesNBD, Qatar First Bank, Qinvest,
  • Legal Advisor to Obligor: Allen & Overy
  • Legal Advisor to Issuer: Maples & Calder
  • Legal Advisor to Joint Lead Managers: Linklaters

Sultanate of Oman

November 2015
OMR 250,000,000
3.500% Sukuk due in November 2020

  • Mandated Lead Arrangers: Standard Chartered Bank, Bank Muscat
  • Shari’ah Advisor: Meethaq
  • Legal Advisors to Obligor: Linklaters
  • Legal Advisor to Issuer: Trowers & Hamlins
  • Legal Advisors to Joint Lead Managers: Allen & Overy, AlBusaidy, Mansoor Jamal & Co

Investment Grade Bond/Sukuk Deal of the Year

DP World

May 2016
US$1,200,000,000
3.908% Senior Unsecured Sukuk Certificates due in May 2023

  • Mandated Lead Arrangers: Barclays, Citi, Deutsche Bank, Dubai Islamic Bank, EmiratesNBD, FGB, HSBC, JPMorgan, National Bank of Abu Dhabi, Societe Generale
  • Lead Arrangers: Noor Bank, Samba Financial Group, UNB
  • Legal Advisor to Obligor: Clifford Chance
  • Legal Advisor to Issuer: Conyers Dill & Pearman
  • Legal Advisor to Joint Lead Managers: Linklaters

Sultanate of Oman

June 2016
US$2,500,000,000

3.625% and 4.750% Dual Tranche Bond Offering due in June 2021 and June 2026

  • Bookrunners: Citi, JPMorgan, MUFG, National Bank of Abu Dhabi, Natixis
  • Legal Advisor to Issuer: Clifford Chance, AlBusaidy, Mansoor Jamal & Co
  • Legal Advisor to Joint Lead Managers: Linklaters, Dentons

TAQA

June 2016
US$1,000,000,000
3.625% and 4.375% Dual-Tranche Bond Offering due in June 2021 and June 2026

  • Bookrunners: BNP Paribas, Citi, FGB, HSBC, National Bank of Abu Dhabi, Societe Generale
  • Legal Advisor to Issuer: Allen & Overy,
  • Legal Advisor to Joint Lead Managers: Linklaters

If you are interested in booking a table at the Bonds, Loans & Sukuk Middle East Awards in Dubai, or raising the profile of your deal or institution during or after the event, please contact Aveen Prasad on Aveen.Prasad@GFCmediagroup.com

Middle East

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