The banking powerhouse wins industry acclaim for leading historic Capital Markets transactions for globally renowned organisations.
Manama, Bahrain: Bank ABC, one of MENA’s leading international banks, has won three awards at the Bonds, Loans & Sukuk (BLS) Middle East Awards, held on 7 June 2023, in Dubai, as part of the BLS Middle East conference. The Bank received the
Global Corporate Sukuk Deal of the Year and
Aircraft Finance Deal of the Year for its landmark Sukuk deal with Air Lease Corporation (ALC). The third title, the
Metals & Mining Deal of the Year, was awarded to the Bank for the loan facilitated for Aluminium Bahrain (Alba).
The BLS Middle East Awards recognise the most innovative and ground-breaking deals from the Middle East, and this year, Bank ABC stood out for playing a leading role in these two remarkable transactions.
Commenting on the multiple wins,
Bank ABC’s Group Head of Treasury and Financial Markets, Mr. Christopher Wilmot, said, “We are extremely proud to have received this recognition which is a testament to our innovative approach to finance and our commitment to our clients. We are proud to have played a leading role in these momentous deals with Air Lease Corporation and Aluminium Bahrain. I would like to thank our clients and partners, for their trust and confidence in our Capital Markets platform and the team at Bank ABC for their expertise, and commitment to our organisation.”
Commenting on the ALC awards,
Bank ABC’s Head of Debt Capital Markets, Nadia Zubairi said, “The award is a testament to the hard work and dedication of all stakeholders involved in the groundbreaking ALC transaction, which represented the first corporate Sukuk issuance from North America and was 3.5 oversubscribed. We are very proud of the leading role Bank ABC played in facilitating this Shari’a-compliant source of funding for one of our key clients in the US and bringing this solid investment opportunity to the Middle East market."
Bank ABC’s Head of Syndications, Tariq Amin remarked, “We take pride in having been entrusted to lead a syndicated facility for Alba once again. The remarkable response received from the syndicated loan market is a testament to Alba’s strength and reputation in regional and international markets.”
ALC is the second largest aircraft leasing company globally, with a total platform scale of over US$55 billion across its owned, managed and on-order fleet. Bank ABC acted as the Sole Arranger, Structurer, and Joint Lead Manager (JLM) and Bookrunner for the US$600 million 5-year Sukuk transaction. This issuance marked the debut Sukuk from ALC, as well as the first Sukuk issuance by a corporate from North America. It matures in 2028.
The US$1.2 billion syndicated loan for Aluminium Bahrain (Alba) was issued in 2022 and will mature in 2030. Bank ABC played the role of Initial Mandated Lead Arranger and Bookrunner for this transaction, along with GIB and National Bank of Bahrain.