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GCC Structured and project bonds: Is the market finally taking off?

Broadcast on Sep 15, 2021 from Livestream: Bonds, Loans & Sukuk Middle East 2021

Platinum Sponsor

Emirates NBD

Platinum Sponsor

First Abu Dhabi Bank (FAB)

Gold & Networking Sponsor

Mashreq

Gold Sponsor

Abu Dhabi Commercial Bank (ADCB)

Gold Sponsor

Abu Dhabi Islamic Bank

Gold Sponsor

BofA Securities

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GIB Capital

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SMBC

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Citi

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Crédit Agricole CIB

Silver Sponsor

Mauritius Commercial Bank (MCB)

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Moody's Investors Service

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Rawabi Holding

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White & Case

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ADFG/SHUAA

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Akin Gump Strauss Hauer & Feld LLP

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Bank of Jordan

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Bank of Sharjah

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Barclays

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Boubyan Bank

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Capital Markets Malaysia

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DWF

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Finsight

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Fitch Ratings

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Intertrust

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Kuwait International Bank

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London Stock Exchange

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Morgan Lewis

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S&P Global

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Squire Patton Boggs

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United Arab Bank

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Warba Bank
  • Discuss drivers for recent pick-up in activity in the GCC Structured/Project Bond Market
  • Are we finally witnessing a shift in dynamics for GCC Structured/Project Bonds such that they will represent a continuing theme in the GCC
    o Investor views/perception of
    o GCC Structured/Project Bonds?
    o Holdco/BidCo vs AssetCo transactions?
    o Importance of ESG?
  • Can we expect the market to evolve to accommodate transactions with market risk (i.e. no guaranteed / limited off-take risk)
Middle East

Speaker

Iman Abdel Khalek

Iman Abdel Khalek

Head of Middle East and North Africa, Debt Capital Markets

Citi

Iman Abdel Khalek

Iman Abdel Khalek

Head of Middle East and North Africa, Debt Capital Markets at Citi

Iman is responsible for Citigroup’s Middle East & North Africa Debt Capital Markets Business, based in Dubai. In her current role, she advises sovereigns, corporates and financial institutions on access to the international bond & Sukuk markets. Iman’s career spans 18 years with Citigroup in various roles. She holds a BA in Business Administration from the American University in Cairo.

Citi has been present in the Middle East for more than 50 years, primarily through Citibank. The bank is directly represented in main markets, including the UAE, Egypt, Qatar, Kuwait, Jordan, Bahrain, Lebanon, Algeria, Tunisia and Morocco. It has more than 30 branches and offices in the region. Across the region, the bank offers a range of corporate finance services, including securitization, project & structured trade finance, syndication and advisory.

In 2006, Citi opened its regional Middle East office at Dubai International Financial Centre (DIFC) following approval by the Dubai Financial Services Authority to operate as an authorized firm at the DIFC in mid-2006. Today, the DIFC houses Citi's Middle East Division management, Investment Banking and Equity businesses in the MENA region along with Islamic Banking and non-UAE regional banking businesses. In 2007, the bank established a dedicated MENA-level equity research team covering major sectors (banks, construction, telecom) operating out of the DIFC.

Citi's journey in the United Arab Emirates started in 1964 when Citibank, a member of Citi, opened its first branch in Dubai followed by Abu Dhabi in 1971. Since then, the bank has been known for delivering excellence and consistently introducing world-class banking products and services to UAE market.

Citi

Iman Abdel Khalek