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Noor Bank wins FI Financing Deal of the Year Award

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Noor Bank wins FI Financing Deal of the Year Award

Dubai-UAE: 30 November, 2015 – Noor Bank has been awarded Financial Institution Financing Deal of the Year for its debut Sukuk issuance at the recent Bonds, Loans & Sukuk Middle East 2015 Awards.

Noor Bank’s USD500 million Sukuk was printed at one of the lowest yields paid by any UAE FI Sukuk issuer. It received a strong response and was oversubscribed 4.3 times, with more than 45% of the issuance allocated to European and Asian investors.

Speaking of the achievement, Hussain Al Qemzi, CEO, Noor Bank, said “We are pleased to have a unique position of having being recognised not only as an issuer for our own highly successful Sukuk but also for various Islamic capital market mandates lead managed by us across MENA, Europe and Far East in the last 12 months. We remain committed to being a driver in the sector and will continue to look at opportunities to further support the rapid growth of the bank and strengthen the Islamic capital markets in the region.”

Noor Bank also won a series of other awards in its capacity as an arranger including the ‘Structured Finance Deal of the Year’ for Stanford Marine Group, which was solely arranged by Noor, ‘Investment Grade Bond/Sukuk Deal of the Year’ for DIFC Investments and ‘Syndicated Loan Deal of the Year by a Debut Borrower’ for Emirates National Oil Company.

Hosted at the Four Seasons Hotel, Jumeirah Beach, The Bonds Loans and Sukuk Awards Ceremony celebrated the outstanding achievements and excellence in the Middle Eastern Loans, Syndications and Capital Markets. The event drew a large gathering of 260 professionals from the Banking and Finance industry in the region.

Noor Bank is one of the most active players in the domestic and international syndication and debt capital markets having a successful track record of origination, structuring, arranging and executing over US$ 50 billion worth of transactions across GCC, Asia & Europe in a span of seven years. The bank has bookrun and lead managed USD 9.0 Billion worth of Islamic capital market mandates in the last 12 months.

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