The National Bank of Abu Dhabi’s ground-breaking refinancing issue for the Emirates CMS Power Company (Taweelah A2 Power Project) was awarded the Euromoney Middle East Deal of the Year award at a grand ceremony in London on March 9.
Mr. Khaled Abdulla Al Qubaisi, the Head of Corporate Finance and Business Development at the National Bank of Abu Dhabi received the award on behalf of the bank.
The refinancing issue involved a syndicate of international and domestic institutions with the National Bank of Abu Dhabi as the largest domestic lender and advisor on the asset-backed securitisation of the project loan. The USD 133.75 million bond issue, concluded in October 2004, was lead managed and underwritten by the National Bank of Abu Dhabi. The Bond is recognised as a pioneer in the domain of capital market issues for infrastructure financing in the GCC.
“We are delighted to be presented with this award as it recognizes the uniqueness of this financing structure in the region, as well as, NBAD’s strength and competence in the investment banking arena.”, said Mr. Khaled Al Qubaisi on receiving the award.
Richard Amos, the Head of Treasury & Investment Banking Division, NBAD, said, “We are proud to have led this innovative transaction, and to have received such a prestigious award. NBAD is committed to developing the Capital and Debt markets in the UAE. We hope to apply our expertise and skills to many more projects in the region.”
