National Bank of Abu Dhabi PJSC (“NBAD”) has raised AED73.38 billion equivalent via Bond, Sukuk and Syndicated Loan markets for UAE clients this year, more than any other domestic or international bank, according to Dealogic. In doing so, NBAD is playing a key role in providing critical liquidity to the UAE market and supporting the growth of the economy.
Alex Thursby, NBAD's Group Chief Executive Officer, said, “As the largest bank in the UAE, NBAD has a responsibility to support the growth of our nation’s economy. This is a responsibility we are proud to bear. That is why, two years ago, we made a conscious decision to extend NBAD’s reach internationally and diversify our funding sources. It was this decision that enabled us to be the largest arranger of debt finance for UAE issuers this year, which was a period of significant market volatility and tight liquidity. Our strategy remains on track and we are ready to build on this strong platform into 2016.”
Andy Cairns, Managing Director and Global Head of Debt Origination & Distribution at NBAD, said, “Providing UAE borrowers with access to cost effective international liquidity is a key pillar of our financing proposition and I am pleased that we have led so many landmark fundraisings for UAE clients during 2015. This focus on our home market is critical to what we, as a firm, do and will continue.”
This year, NBAD has acted as bookrunner on the UAE’s three largest bond and Sukuk issuances, for the Government of Ras Al Khaimah, Dubai Islamic Bank and NBAD itself. NBAD has also bookrun all of this year’s bonds and Sukuk from UAE corporate issuers, for Majid Al Futtaim, DP World, Etisalat and Emirates.
In the syndicated loan market, NBAD was Global Coordinator and Bookrunner on the year’s largest completed deal to-date, TAQA’s USD3.1 billion fundraising. Last week, NBAD announced a USD4.9 billion syndicated loan for Emirates Global Aluminium. NBAD is Bookrunner and Global Facility Agent on this transaction, which will be the largest syndicated loan from the UAE since 2008.
In the last 12 months, NBAD’s Debt Origination and Distribution team has won 48 awards including “Rising Star Emerging Markets House” at the Global Capital Bond Awards, becoming the first-ever MENA bank to win this accolade. NBAD was also named as the “Best Sukuk House of the Year” at the Global Islamic Finance Awards as well as the “Best DCM House in the UAE” by Euromoney.