GIB Capital, the Riyadh-based regional investment banking and asset management arm of Gulf International Bank (GIB), has been recognized as the “Best Bond House in the Middle East” at the EMEA Finance’s Middle East Banking Awards 2017. The awards were announced at the EMEA Finance Achievement Awards Charity Dinner held last month in London.
GIB Capital also won:
l Best sovereign bond in the Middle East: Bahrain’s $3 billion multi-tranche Sukuk and conventional issuance
l Best sub-sovereign bond: Nogaholding’s debut 10 year $1 billion issuance
l Best corporate Sukuk: Saudi Aramco’s debut SR11.25 billion ($3 billion) floating rate Sukuk
l Best sovereign Sukuk: Oman’s debut $2 billion Sukuk
l Best privatization deal by Saudi Arabia’s GACA
Roderick Gordon, head of Debt Capital Markets, was also awarded the “Dealmaker of the Year” award at the ceremony.
The EMEA Finance’s Middle East Banking Awards are 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 $12.5 billion multi-tranche bond issuance for 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 the joint lead manager and joint bookrunner for the successful pricing of a $3 billion multi-tranche bond issuance for Bahrain, represented by Bahrain’s Ministry of Finance. This was Bahrain’s largest ever syndicated debt capital markets transaction, drawing in excess of $15 billion of demand.
GIB was established in Bahrain in 1975, and commenced operations in 1976. In 2017, GIB became the first foreign domiciled bank to be granted approval from Saudi Arabia’s Council of Ministers to establish a local commercial bank in the Kingdom.
Consequently, GIB’s branch offices in the Kingdom will become part of the Saudi Arabian subsidiary, with the country headquarters located in Dhahran.
