Riyadh-Based GIB Capital Wins 'Best Bond House in the Middle East'

Press release
Published July 1st, 2018 - 07:25 GMT
During the event
During the event

GIB Capital, the Riyadh-based regional investment banking and asset management arm of Gulf International Bank (GIB), is proud to announce that it was recognised as “The Best bond house in the Middle East” at the EMEA Finance’s Middle East Banking Awards 2017. The awards were announced at EMEA Finance Achievement Awards Charity Dinner held in June 2018 in London.

GIB Capital also won:

  • Best sovereign bond in the Middle East: Bahrain's US$3bn multi-tranche Sukuk and conventional issuance
  • Best sub-sovereign bond: Nogaholding's debut 10 year US$1bn issuance
  • Best corporate Sukuk: Saudi Aramco's debut SAR11.25bn floating rate Sukuk
  • Best sovereign Sukuk: Oman's debut US$2bn Sukuk
  • Best Privatisation Deal by Saudi Arabia’s GACA

Roderick Gordon, Head of Debt Capital Market, was also awarded ‘the Dealmaker of the Year award’ at the ceremony.

The EMEA Finance’s Middle East Banking Awards announced GIB Capital as one of their winning deals and dealmakers of 2017 in their 10th Anniversary edition of its annual Achievement Awards publication. This Award is nominated by parties including banks and their clients, and chosen by the EMEA Finance editorial team.

GIB Capital achieved a number of milestones in 2017. Acting as Joint Lead Manager and Joint Bookrunner, GIB Capital successfully priced a US$ 12.5 billion multi-tranche bond issuance for the Kingdom of Saudi Arabia, on behalf of the Ministry of Finance. The transaction is the third largest sovereign issuance ever completed and the largest sovereign issuance in 2017, as well as the largest emerging market bond transaction in 2017.

In addition, GIB Capital was Joint Lead Manager and Joint Bookrunner for the successful pricing of a US$ 3.0 billion multi-tranche bond issuance for the Kingdom of Bahrain, represented by the Ministry of Finance (Bahrain). This was Bahrain’s largest ever syndicated debt capital markets transaction, drawing in excess of US$ 15.0 billion of demand.

Background Information

Gulf International Bank

Gulf International Bank B.S.C. (GIB) was established in the Kingdom of Bahrain in 1975, and commenced operations in 1976. In 2017, GIB became the first foreign domiciled bank to be granted approval from the Saudi Arabia Council of Ministers to establish a local commercial bank in the Kingdom of Saudi Arabia.

Consequently, GIB's branch offices in the Kingdom will become part of the Saudi Arabian subsidiary, with the country headquarters located in Al Dhahran.

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