Restructuring deal of the year award for Barclays

Press release
Published March 26th, 2012 - 08:01 GMT

Barclays was awarded the ‘Restructuring Deal of The Year’ at the Islamic Finance News Awards Ceremony 2012 which took place in Dubai. The award recognizes the sizable contribution Barclays made to Nakheel’s US 2.22 billion restructuring through chairing the coordinating bank committee for the Nakheel restructure.

John Vitalo, Middle East Chief Executive Officer for Barclays Plc, said: “We are delighted to receive this prestigious award that recognises our efforts in the Islamic banking space and in particular for supporting Nakheel’s restructuring. We are proud of our achievements in the Islamic financing space and are committed to continue to demonstrate our ability to structure conventional as well as Islamic tailor-made financing solutions.”

This award builds on Barclays strong track record in the Islamic finance space, where in 2011 Barclays was awarded the ‘Sovereign Deal of the Year Award’ for participating in the Government of Malaysia’s US$1.25 billion global sukuk and the ‘Syndicated Deal of the Year Award’ for the US$1.4 billion project financing for the Jubail Refinery.

The winners of the Islamic Finance News Awards 2012 were determined through a voting system cast by industry participants, including financial services professionals, issuers, investors, non-banking financial intermediaries and government bodies from around the world.

Background Information

Barclays Corporate

With a strong focus on client relationship, Barclays Corporate provides integrated banking solutions to more than 100,000 businesses and organisations with an annual turnover of more than £5m around the globe.

Its clients are served via a network of relationship, industry sector and product specialist managers, who provide local access to tailored solutions constructed from a comprehensive range of products, services and expertise. These include: lending, risk management, trade, cash and liquidity management, and specialist asset and sales financing.

Additionally, clients are offered access to the products and expertise of other businesses in the Group, particularly investment banking through Barclays Capital and private wealth management through Barclays Wealth.

Barclays Corporate employs 13,000 globally.

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