HSBC Saudi Arabia receives Best Debt House by Euromoney

HSBC Saudi Arabia Ltd. has just won an award for the Best Debt House in Saudi Arabia from Euromoney, a premier global financial publication. The award was presented during a ceremony in Dubai for Euromoney's annual Awards of Excellence. Fahad Alsaif, MD and head of debt capital markets in HSBC Saudi Arabia Ltd., received the award on behalf of HSBC.
HSBC also won Euromoney's awards for the Best Debt House in the Middle East, Best Project Finance House in the Middle East and Best Equity House in the Middle East. Transactions executed by HSBC Saudi Arabia Ltd. played a significant role in winning such regional awards.
With this latest award, HSBC Saudi Arabia Ltd. has won a top investment-banking award from Euromoney every year since its inception in Saudi Arabia. In the awards presentation, Euromoney acknowledged HSBC's dominant position in and contribution to the debt markets in the Kingdom, mentioning HSBC's market share in debt capital markets was almost three times as large as its nearest rival. Transactions led by HSBC Saudi Arabia Ltd. this year include the first sovereign-guaranteed sukuk (SR 15 billion, for the General Authority of Civil Aviation), which helped in setting a benchmark for the sovereign yield curve, the debut international sukuk for Saudi Electricity Company ($ 1.75 billion), debut sukuk programs and debut issuances under such programs for Almarai (SR 1 billion) and Tasnee (SR 2 billion), the first sukuk exchange offer (for SABB, SR 1.5 billion). In addition, HSBC Saudi Arabia advised MARAFIQ on its SR 4.5 billion syndicated murabaha facility, and are currently advising Maaden on its debut SR 7 billion corporate syndicated murabaha facility.
Walid Khoury, CEO of HSBC Saudi Arabia Ltd., said: "This is a gratifying result of our commitment to Saudi Arabia and the quality of resources we have dedicated into our franchise."