Fawaz Abusneineh Sedef Gunsur, and Shaikh Alawi Ahmed receive the award
The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, was named the Best Debt Capital Markets House in the Middle East and the UAE by the prestigious Euromoney magazine in its Euromoney 2013 Awards for Excellence.
NBAD, which arranged 20 debt issuances worth approximately US$16.3billion (AED 59.7billion) in 2012, the highest among all regional banks, became the first bank from the region ever to win this award, as in the past only international banks had been selected as winners in the region.
So far this year, NBAD has arranged 10 debt issuances worth more than US$5.5billion.
This award marks the second time this year that NBAD’s Debt Capital Markets franchise has been recognised. Earlier in the year, NBAD won the ‘Best Corporate Bond Arranger Award’ at The Banker Middle East Product Awards 2013.
“We always strive to be the leading regional bank in arranging issuances from the region. In 2012, that helped us in becoming the region’s best arranger,” says Fawaz Abusneineh, the Head of Debt Capital Markets at NBAD. “Our strategy goes beyond issuing the highest number and volume of issuance; we also focus on the diversity as we arranged debt issuances across the UAE, as well as other GCC countries, Turkey and beyond. Our clients include leading financial institutions, government related entities, sovereigns, and corporates, offering them a full suite of DCM products and services.”
Euromoney selected NBAD for its superior record to achieve results for its clients; in providing them the needed financing, including tapping the international debt capital markets. NBAD, according to Euromoney’s criteria to win, demonstrated an ability to raise financing for clients in multiple countries, for different client types and in different markets (currencies and product type); and it leads in innovation, opening or reopening markets, and achieving success in difficult market conditions.
In 2012, NBAD lead transactions represented ca. 38% of total value of DCM issuance from the GCC region. NBAD topped all other regional banks by both the number and total volume of the debt issuances. NBAD’s Debt Capital Markets team increased the number of deals lead arranged and executed by around five times, from 4 transactions in 2011 to 20 transactions in 2012.
In addition to facilitating the highest amount of issuance, NBAD led numerous groundbreaking transactions in 2013, which include the first-ever unrated 30-year public USD transaction in Reg S format by the Government of Dubai, the largest ever USD SubordiantedTier-2 issuance from the GCC region by Abu Dhabi Commercial Bank, the first ever fixed-rate USD public issuance by a Omani bank for Bank Muscat, and the first ever international Tier-2 Sukuk transaction with a fixed profit rate by Bank Asya.
“NBAD has strategised to position and to take advantage of the increased direct capital inflow into the GCC. We accomplished this in 2012 and we are on track to accomplish it this year,” says Mr. Abusneineh. “The NBAD brand recognition and our team of experts, as well as NBAD’s profound relationships and extensive global reach, allowed us to successfully close groundbreaking transactions and deliver great results for our clients.”
Fawaz Abusneineh, the Head of Debt Capital Markets at NBAD, Shaikh Alawi Ahmed, Senior Manager, Sedef Gunsur, Senior Manager at NBAD’s Debt Capital Markets received the award on behalf of the bank.