The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has won the Best Project Finance / Infrastructure Bank Award in the Banker Middle East Industry 2013 Awards.
The Award recognized NBAD as the pre-eminent institution in project financing transactions, as evidenced by NBAD’s closing numerous transactions with its commitments totaling AED4.6 billion so far in 2013, and AED2.6 billion in 2012. Moreover, NBAD has become an international player in the industry. NBAD has originated transaction in Qatar, Turkey, and Saudi Arabia this year.
“NBAD has been the principal financier of major infrastructure projects in Abu Dhabi and the UAE; the Bank has a reputation as both a premier financial institution and a company that is committed to the goals and vision of Abu Dhabi Vision 2030. Moreover, NBAD is emerging as an international player outside the Arab world,” says Mark Yassin, the Senior General Manager of Global Banking of NBAD.
“NBAD’s project financing successes is a result of our deep understanding of GCC, Arab markets and beyond. We enjoy a unique position because our team compliments expertise with experience and profound networks. NBAD identifies what is achievable in financial markets and accurately structures tenors, pricing and other parameters.” says Mr. Yassin.
NBAD’s project finance unit has already closed 8 new deals so far in 2013 with its commitments totaling AED 4.6bn, including Initial Mandated Lead Arranger /Bookrunner roles for the USD 1.28bn Etihad Rail project, USD 3.4bn Emirates Aluminum (EMAL) expansion, and USD 90m and EUR30m AK Lease financing in Turkey, as well as Mandated Lead Arrangers roles for the USD1.1bn Sadara chemical project in KSA, and USD2.5bn Aabar Investment financing .
In 2012, NBAD became the Initial Mandated Lead Arranger / Bookrunner for AED4.4bn JAFZA facility, AED9bn TAQA facility, USD500m du facility, as well as USD70m aircraft transaction for a UAE based airline, and participated in senior roles in USD1.7bn Dubai Duty Free, USD106m Qortuba Real Estate facility in Qatar.
“NBAD ensures international standards of origination, execution and funding to a geographically diverse investor base offering a wide range of products and services across the project and structured finance route in the Middle East with exposure across multiple economic sectors including utilities, hospitality, healthcare, real estate, aviation, telecommunications, energy, and petrochemicals,” says Mr. Yassin.
Last year, NBAD won the highly commended ‘Deal of the Year’ award in Infrastructure and Project Finance category from The Banker FT Business magazine for being the arranger in Shams Power transaction. NBAD also won the Emerging EMEA Loan of the Year 2012 Award for JAFZA; and Project Finance Award for Global Deal of the Year and Islamic Finance News Award for Corporate Finance Deal of the year for Emaar Malls in 2011.