NBAD wins best project finance award
Abu Dhabi, July 11, 2013
The National Bank of Abu Dhabi (NBAD), a leading 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 Dh4.6 billion ($1.25 billion) so far in 2013, and Dh2.6 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,” said Mark Yassin, 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.”
NBAD’s project finance unit has already closed 8 new deals so far in 2013 with its commitments totaling Dh4.6 billion, including Initial Mandated Lead Arranger /Bookrunner roles for the $1.28 billion Etihad Rail project, $3.4 billion Emirates Aluminum (EMAL) expansion, and $90 million and EUR30 million AK Lease financing in Turkey, as well as Mandated Lead Arrangers roles for the $1.1 billion Sadara chemical project in KSA, and $2.5 billion Aabar Investment financing.
“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,” said Yassin. – TradeArabia News Service
More Finance & Capital Market Stories
- Commercial Bank of Dubai obtains $450m loan
- EFG Hermes names group co-chief
- Islamic bond issuance in GCC picking up
- Kuwait budget surplus likely to hit $42.4bn
- Bahrain banking sector on road to recovery
- GCC banks' outlook stable, says report
- GBSA panel names new chairperson
- NBK group CEO to step down
- SABB gets Fitch ratings boost
- Saudi SABB prices $400m sukuk issue