24th March 2020

2020 WINNING DEALS

Sovereign Funding Team of the Year

Ministry of Finance, Kingdom of Saudi Arabia


Corporate Funding Team of the Year

DP World


Financial Institutions Funding Team of the Year

First Abu Dhabi Bank (FAB)


Sovereign Debt Deal of the Year

Republic of Egypt

US$2,000,000,000

November 2019

144a/RegS Multi-Tranche Bond Offering

Tranche A: $500,000,000 Bond 4.5500% Coupon due in November 2023

Tranche B: $1,000,000,000 Bond 7.0529% Coupon due in January 2032

Tranche C: $500,000,000 Bond 8.1500% Coupon due in November 2059

JLMs/Bookrunners: BNP Paribas / Citi / JP Morgan / Natixis / Standard Chartered

Legal Adviser to Issuer: Dechert / Al Tamimi

Legal Adviser to the JLMs: Linklaters


Sustainable Finance Deal of the Year

Majid Al Futtaim Properties
May 2019

USD 600,000,000.00

4.638%

RegS Senior Unsecured Green Trust Certificates Sukuk due May 2029

Green Structuring Advisers, Joint Global Coordinators and Joint Lead Managers: HSBC, Standard Chartered Bank

Joint-Lead Managers: Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Gulf International Bank

Legal Adviser to the Issuer: Clifford Chance LLP

Legal Adviser to the JLMs: Dentons


Niche Market Deal of the Year

Mubadala (Mamoura Diversified Global Holding PJSC)

US$3,500,000,000

November 2019

144A / RegS Multi-Tranche Formosa Bond Offering

Tranche A: $1,000,000,000 Bond 2.500% Coupon due in November 2024

Tranche B: $1,000,000,000 Bond 2.875% Coupon due in November 2029

Tranche C: $1,500,000,000 Bond 3.700% Coupon due in November 2049

Bookrunners: Citi / Deutsche Bank / First Abu Dhabi Bank / HSBC / JPMorgan / SMBC Nikko

Legal Adviser to the Issuer: Allen & Overy

Legal Adviser to the JLMs: Clifford Chance


Investment Grade Corporate Bond/Sukuk Deal of the Year

Almarai Company

$500,000,000

February 2019

4.311%

RegS Sukuk due March 2024

Bookrunners: First Abu Dhabi Bank / GIB / HSBC / JPMorgan / Standard Chartered

Legal Adviser to the Issuer: Baker McKenzie / Walkers

Legal Adviser to the JLMs: White & Case


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

Dar Al-Arkan Real Estate Development Company

US$600,000,000

October 2019

7.000%

RegS Fixed Rate Sukuk due February 2025

Bookrunners: AlKhair Capital / Deutsche Bank / Dubai Islamic Bank / Emirates NBD / Goldman Sachs / Nomura / Noor Bank / Standard Chartered Bank / Warba Bank

Legal Adviser to the Issuer: Latham & Watkins

Legal Adviser to the JLMs: Allen & Overy


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

ADES International Holding

US$325,000,000

April 2019

8.625%

144a/RegS Senior Secured NC2 Notes due in April 2024

Bookrunners: Bank of America Merrill Lynch, Citi, Goldman Sachs

Legal Adviser to the Issuer: White & Case

Legal Adviser to the JLMs: Paul Hastings


Leveraged Finance Deal of the Year

GEMS Education

US$1,850,000,000

July 2019

Revolving Credit Facility, Term Loan B and Senior Secured Notes Financing

Revolving Credit Facility: $200,000,000 due in July 2025

Term Loan B: $750,000,000 due in July 2026

Senior Secured NC3 Notes: $900,000,000 Bond 7.125% Coupon due in July 2026

Term Loan B and RCF JLMs/Bookrunners: Citi / Goldman Sachs / HSBC / EmiratesNBD / Credit Suisse

Senior Secured Notes Bookrunners: Goldman Sachs

Legal Adviser to the Obligor: Linklaters

Legal Adviser to the JLMs: Milbank


Quasi-Sovereign Debt Deal of the Year

Saudi Telecom Company

US$1,250,000,000

May 2019

3.890%

144a/RegS Sukuk due in May 2029

Bookrunners: First Abu Dhabi Bank / HSBC / JPMorgan / KFH Capital / Samba Capital / Standard Chartered Bank

Legal Adviser to the Issuer: Clifford Chance

Legal Adviser to the JLMs: Allen & Overy


Financial Institutions Deal of the Year

Bank of Sharjah

US$600,000,000

September 2019

4.000%

Senior Unsecured Bond (and Tender Offer) due in September 2024

Bookrunners: Bank ABC / Emirates NBD / First Abu Dhabi Bank / JPMorgan

Legal Adviser to the Issuer: Dentons

Legal Adviser to the JLMs: Allen & Overy


Local Currency Bond/Sukuk Deal of the Year

Saudi Real Estate Refinance Company (SRC)

SAR 750,000,000

February 2019

Multi-series Sukuk Offering

Series 1: 4.0800% Coupon due in December 2023

Series 2: 4.3500% Coupon due in December 2025

Series 3: 4.6600% Coupon due in December 2028

Series 4: 4.0100% Coupon due in February 2024

Bookrunners: HSBC Saudi Arabia

Legal Adviser to the Issuer: White & Case LLP / The Law Office of Megren M. Al-Shaalan in cooperation with White & Case

Legal Adviser to the JLMs: Allen & Overy / Khoshaim & Associates


Structured Bond/Sukuk Deal of the Year

Aurum (Cayman) Limited / The First Group LLC

US$135,000,000

August 2019

10.5%

RegS Senior Secured Private Placement Ijarah Sukuk listed on London Stock Exchange due in August 2024

Lead Manager: ADFG-SHUAA Capital psc

Paying Agent: Citi

Legal Adviser to the Obligor: Simmons & Simmons

Legal Adviser to the Issuer: Maples

Legal Advisor to the JLMs: Herbert Smith Freehills


Syndicated Loan Deal of the Year

Saudi Electricity Company

SAR 15,200,000,000

February 2019

Syndicated Murabaha Facility due in February 2026

Bookrunners: Al Rajhi / NCB / SABB / Banque Saudi Fransi / SAMBA / Arab National Bank

Legal Adviser to the Borrower: Allen and Overy / Walkers

Legal Adviser to the JLMs: Clifford Chance



Export Finance Deal of the Year

Emirates Global Aluminium

US$750,000,000

March 2019

ECA-Backed Project Finance Facility due December 2032

Lead Arrangers: International Finance Corporation (IFC) / African Development Bank / Export Development Canada (EDC)

Due diligence lead on behalf of the commercial banks and Lender: ING

Financial Advisor and Lender: Societe Generale

Political insurance cover to commercial Banks: Multilateral Investment Guarantee Agency (MIGA)

Lenders: The Emerging Africa Infrastructure Fund Limited / BNP Paribas / Natixis / First Abu Dhabi Bank / Emirates NBD / Mashreq Bank

Legal Advisors to Borrower: Shearman & Sterling / S.D. Avocats / Akin & Gump Strauss Hauer & Feld LLP / Walkers

Legal Advisers to the JLMs: Allen & Overy / Bao & Fils / Maples & Calder

Legal Counsel to the Government of Guinea: DLA Piper / Sylla & Partners



Project Finance Deal of the Year:

Taweelah RO Desalination Company

ACWA Power

US$739,000,000

Oct 2019

Non-recourse Project Finance Loan due in December 2051

Joint-Lead Managers (JLMs): Natixis / Norinchukin / Mizuho / Siemens / Emirates NBD / Boubyan

Legal Adviser to the Sponsor: Hogan Lovells

Legal Adviser to the JLMs: Norton Rose

Legal Adviser to the Procurer: White & Case



Local Currency Loan Deal of the Year

Abu Dhabi Terminals LLC

AED1,500,000,000

Oct 2019

Limited recourse project finance facility due Oct 2029

Sole Lead Manager and Bookrunner: ADCB

Legal Adviser to the Borrower: Allen & Overy

Legal Adviser to the JLMs: Linklaters



Structured Loan Deal of the Year

National Energy Services Reunited (NESR) / NPS Holdings Limited

US$450,000,000

May 2019

Syndicated Loan facility to refinance existing Indebtedness, Capex and Working Capital due in May 2025

Joint-Lead Managers (JLMs): APICORP / Mashreq / HSBC / SABB

Legal Adviser to the Borrower: Freshfields

Legal Adviser to the JLMs: Clifford Chance



Syndicated Loan Deal of the Year by a Debut Borrower

Alternative Investments LLC / Ittihad International Investment LLC

us$300,000,000

May 2019

Syndicated Loan Refinance existing indebtedness and RCF line due in May 2026

Joint-Lead Managers (JLMs): Mashreq / HSBC / First Abu Dhabi Bank

Legal Adviser to the Borrower: Ashurst

Legal Adviser to the JLMs: Dentons