IBSA

HSBC Saudi Arabia Collects Two More Prestigious EUROMONEY Awards

Timothy Gray, Chief Executive Officer of HSBC Saudi Arabia, commented:  “This unique award-winning track record is a testimony to the consistently high level of products, service and innovation delivered by HSBC Group not only in Saudi Arabia but across the Middle East.  The awards are also an outstanding tribute to the quality of our staff.

EuromoneyAwards for Excellence are amongst the most respected awards for financial services across the world, and are a benchmark within the industry for class-leading products and services.

Since its establishment in 2006, HSBC has been the pre-eminent debt house in the Kingdom and recent landmark deals for which HSBC Saudi Arabia was recognized as Best Debt House for include:

• The SABIC Sukuk, in which the HSBC Saudi Arabia team acted as the Sole Lead Manager and Bookrunner of the first corporate bond/Sukuk issued in Saudi Arabia under the new CMA offering rules for public securities offerings. This was also the largest ever single Sukuk or bond issued by a non-bank company which is publicly listed in the GCC.  TheShariah -compliant Sukuk raised over SAR 4.3bn in only 10 days from a diverse Saudi investor base.   HSBC also acted as Joint Lead Manager and Bookrunner for SABIC Europe’s debut Eurobond, the first ever by a Saudi Arabian corporate issuer, which raised EUR 750 million.
• Sole Lead Manager and Bookrunner for the very first Euro-denominated Eurobond issued by a Middle Eastern issuer.  The SABB Eurobond netted EUR325 million.   HSBC took on similar roles in Arab National Bank’s debut Eurobond, a USD500 million Lower Tier II offering, the very first by a Saudi Arabian Bank.
• The role of Financial Advisor and Lead Arranger on financing the USD1,388 million ShuqaiqWater and Electricity Company. This project was part of the pioneering national strategy to introduce the private sector to the rapid growth in the nation’s power and water requirements.

HSBC has been the clear market leader in the emerging and vitally important field of mergers and acquisitions (M&A), breaking new ground within Saudi Arabia.

Transactions advised demonstrate some of the possibilities in this area and include the following deals:

• The sole Financial Advisor role to Al-Marai Company for the USD194.4 million acquisition of Western Bakeries Company Limited and International Banking Services Company Limited, and the issuance of 9 million new Al-Marai Acquisition Shares.
• Acting as the sole Financial Adviser to the National Titanium Dioxide Company Ltd in its acquisition of the Millennium Inorganic Chemicals business of Lyondell for an enterprise value of USD1.2 billion. This transaction was the fifth largest Saudi Arabian investment outside of the Kingdom.