Capital Markets & ESG Finance Saudi Arabia Awards 2024 | GFC Media Group | Fairmont Riyadh, Area, Business Gate, Qurtubah, Riyadh 11552, Saudi Arabia

Since 2014, GFC Media Group Awards has been recognising the year’s most innovative and ground-breaking deals from Sovereign, Corporate and Financial Institution issuers and borrowers.

The exhaustive selection process involves close examination of deal size, tenor, structure, and distribution; analysis and background of the borrower and their accessibility to financing; with extra credit for those deals demonstrating high quality execution, accessing new pools of liquidity, innovative structuring, and opening-up new markets.

Bringing together the industry’s most high-profile figures, the Capital Markets & ESG Finance Saudi Arabia AWARDS are an opportunity to raise the profile of the financial markets with the international investment community, and to inspire future issuance by companies.

2023 Winners

Ground-breaking Deal of the Year
• Gaci First Investment Company (Public Investment Fund)
USD 3bn RegS Triple-tranche (including Century Tranche) Senior Unsecured ESG Bond
Issued: Oct 2022; Matures: Oct 2027, Oct 2032, Oct 2122
Global Coordinators: BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, JPMorgan
Joint Green Structurers and Active Bookrunners: Credit Agricole, Standard Chartered
Active Bookrunners: First Abu Dhabi Bank, HSBC, Mizuho, SMBC Nikko, SNB Capital, Societe Generale
Passive Bookrunners: ANB Capital, BofA Securities, Bank of China, GIB Capital, ICBC, Intesa SanPaolo IMI, Morgan Stanley, MUFG, Natixis, Riyad Capital, Saudi Fransi Capital
Legal Advisers to the Issuer: Latham & Watkins
Legal Advisers to the JLMs: Linklaters

Sovereign, Supra & Agency Bond Deal of the Year
• National Debt Management Centre, Ministry of Finance, The Kingdom of Saudi Arabia
USD 5bn 144a/RegS Senior Unsecured Dual-tranche (Sukuk and Conventional Bonds) Liability Management and New Issue
Issued: Oct 2022; Matures: Oct 2028 and October 2032
Global Coordinators: HSBC, BNP Paribas, Goldman Sachs
Bookrunners: AlJazira Capital, Citi, JPMorgan, Standard Chartered
Legal Advisers to the Obligor: Allen & Overy
Legal Advisers to the JLMs: Linklaters

Quasi-Sovereign/GRE Bond Deal of the Year
• Gaci First Investment Company (Public Investment Fund)
USD 3bn RegS Triple-tranche (including Century Tranche) Senior Unsecured ESG Bond
Issued: Oct 2022; Matures: Oct 2027, Oct 2032, Oct 2122
Global Coordinators: BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, JPMorgan

Joint Green Structurers and Active Bookrunners: Credit Agricole, Standard Chartered

Active Bookrunners: First Abu Dhabi Bank, HSBC, Mizuho, SMBC Nikko, SNB Capital, Societe Generale
Passive Bookrunners: ANB Capital, BofA Securities, Bank of China, GIB Capital, ICBC, Intesa SanPaolo IMI, Morgan Stanley, MUFG, Natixis, Riyad Capital, Saudi Fransi Capital
Legal Advisers to the Issuer: Latham & Watkins
Legal Advisers to the JLMs: Linklaters

ESG Bond Deal of the Year
• Gaci First Investment Company (Public Investment Fund)
USD 3bn RegS Triple-tranche (including Century Tranche) Senior Unsecured ESG Bond
Issued: Oct 2022; Matures: Oct 2027, Oct 2032, Oct 2122
Global Coordinators: BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, JPMorgan

Joint Green Structurers and Active Bookrunners: Credit Agricole, Standard Chartered

Active Bookrunners: First Abu Dhabi Bank, HSBC, Mizuho, SMBC Nikko, SNB Capital, Societe Generale
Passive Bookrunners: ANB Capital, BofA Securities, Bank of China, GIB Capital, ICBC, Intesa SanPaolo IMI, Morgan Stanley, MUFG, Natixis, Riyad Capital, Saudi Fransi Capital
Legal Advisers to the Issuer: Latham & Watkins
Legal Advisers to the JLMs: Linklaters

Bank/Financial Institutions Bond Deal of the Year
• Banque Saudi Fransi
USD 700m RegS Senior Unsecured Bond
Issued: Nov 2022; Matures: November 2027
Bookrunners: BofA Securities, Citi, HSBC, JPMorgan, Saudi Fransi Capital, Standard Chartered
Legal Advisers to the Issuer: Linklaters
Legal Advisers to the JLMs: Clifford Chance

Syndicated Loan Deal of the Year
• Public Investment Fund
USD 17bn Senior Unsecured Syndicated Loan
Issued: Nov 2022; Matures: 2029
Bookrunners and MLAs: BofA Securities, BNP Paribas, Citi, Credit Agricole, First Abu Dhabi Bank, HSBC, JPMorgan, Mizuho, SMBC
MLAs: ADCB, Agricultural Bank of China, Santander, Bank of China, Barclays, EmiratesNBD Capital, Goldman Sachs, ICBC, MUFG, NBK, Standard Chartered, State Bank of India
Legal Advisers to the Borrower: Clifford Chance
Legal Advisers to the Bookrunners: Linklaters

ESG Loan Deal of the Year
• Al Rajhi Bank and Investment Corporation
USD 1.165bn Deal Tranche Sustainability-Linked Commodity Murabaha Facility
Issued: Sep 2022; Matures: Sep 2025
Initial MLAs, Coordinators and Bookrunners: HSBC, SMBC
Legal Adviser to the Borrower: Hogan Lovells
Legal Advisers to the JLMs: Norton Rose, Mohammed Al-Ghamdi Law Firm

Acquisition Finance Deal of the Year
• Greensaif Pipelines Bidco SARL
Sponsors: BlackRock Real Assets, GOSI
USD 13.4bn Acquisition bridge facility on the back of lease-and-lease-back transaction between the consortium and Saudi Aramco
Issued: Feb 2022

Bookrunners/Participant Banks: ADCB, Agricultural Bank of China, Bank of China, BofA Securities, BNP Paribas, China Construction Bank, Citi, Credit Agricole, First Abu Dhabi Bank, HSBC, JPMorgan, Mizuho, MUFG, Riyad Bank, Societe Generale, Standard Chartered, SMBC

Legal Advisers to the Obligor: Simpson Thacher & Bartlett
Legal Advisers to Saudi Aramco: White & Case
Legal Advisers to the Bookrunners: Clifford Chance

Infrastructure Finance Deal of the Year
• Madinah, Buraydah and Tabuk ISTP
SAR 2.4bn Secured Project Finance Loan
Issued: Feb 2022; Matures: May 2049
Obligor: Saudi Water Partnership Company
Sponsors: Acciona Agua, Tamasuk Holding, International Water Distribution Company
Borrowers: Aleqad Water Treatment Company, Arratil Independent Water Treatment Company and Desert Well Treatment Company
Bookrunners: Abu Dhabi Islamic Bank, Alinma Bank, MUFG, Riyad Bank, Siemens Bank

Social Infrastructure Finance Deal of the Year
• Ministry of Education, Tatweer Building Company
SAR 1.3bn Senior Secured Limited Recourse Project Loan
Issued: May 2022; Matures: Aug 2045
Financial Adviser: HSBC
MLAs: Alinma Bank
Legal Advisers to the Sponsors: Allen & Overy, Khoshaim & Associates
Legal Advisers to the MLAs: Ashurst

Local Currency Bank/FI Bond Deal of the Year
• Al Rajhi Bank and Investment Corporation
SAR 10bn Retail Public Offer Tier 1 Sukuk
Issued: October 2022
Bookrunners: Al Rajhi Capital
Legal Advisers to the Obligor: Allen & Overy, Khoshaim & Associates
Legal Adviser to the Bookrunner: Clifford Chance

Local Currency Corporate Bond Deal of the Year
• Arabian Drilling Company
SAR 2bn Senior Unsecured Private Placement Sukuk
Issued: Feb 2022; Matures: Feb 2027
Lead Coordinator and JLM: HSBC
JLMs: Riyad Bank, Saudi Fransi Capital
Legal Advisers to the Obligor: Simmons & Simmons
Legal Advisers to the JLMs: Allen & Overy

M&A Deal of the Year
• solutions by STC
USD 158m acquisition of 88.19% stake of Giza Systems
Deal Closure: Oct 2022
Investment Adviser: SNB Capital
Legal Advisers: Freshfields
Financial & Tax Advisers: PwC
Commercial & Technical Advisor: Arthur D. Little

Oil & Gas Finance Deal of the Year
• Greensaif Pipelines Bidco SARL
Sponsors: BlackRock Real Assets, GOSI
USD 13.4bn Acquisition bridge facility on the back of lease-and-lease-back transaction between the consortium and Saudi Aramco
Issued: Feb 2022

Bookrunners/Participant Banks: ADCB, Agricultural Bank of China, Bank of China, BofA Securities, BNP Paribas, China Construction Bank, Citi, Credit Agricole, First Abu Dhabi Bank, HSBC, JPMorgan, Mizuho, MUFG, Riyad Bank, Societe Generale, Standard Chartered, SMBC

Legal Advisers to the Obligor: Simpson Thacher & Bartlett
Legal Advisers to Saudi Aramco: White & Case
Legal Advisers to the Bookrunners: Clifford Chance

Power Finance Deal of the Year
• Saudi Electricity Company
USD 3bn Dual-Tranche Conventional and Islamic Term Facility
Initial MLAs, Coordinators and Bookrunners: Bank of China, ICBC, Intesa SanPaolo IMI, State Bank of India, ADCB, ADIB, First Abu Dhabi Bank, HSBC, MUFG, NBK, SMBC, Mizuho, Standard Chartered
Legal Advisers to the Borrower: Linklaters
Legal Advisers to the Bookrunners: Latham & Watkins

Project Finance Loan Deal of the Year
• Advanced Polyolefins Industry Company (APOC)
SAR 6.1bn Senior Secured Limited Recourse Syndicated Project Finance Loan
Issued: July 2022; Matures: Nov 2035
MLA, Facilities Agent, Onshore Security Agent and Offshore Security Trustee: HSBC
Financial Adviser and MLA: Banque Saudi Fransi
MLAs: Alinma Bank, Arab National Bank, APICORP, AlRajhi Bank, Bank AlBilad, Banque Saudi Fransi, Riyad Bank, The Saudi National Bank, SABB
Financial Advisor: Banque Saudi Fransi, Synergy Consulting Inc.
Legal Advisers to the Borrower: Herbert Smith Freehills
Legal Advisers to the MLAs: White & Case

Real Estate Finance Deal of the Year
• Saudi Real Estate Refinance Company
SAR 4bn Guaranteed Senior Unsecured Private Placement Sukuk
Issued: Apr 2022; Matures: Apr 2030
Lead Coordinator and JLM: HSBC
JLMs: AlJazira Capital, Riyad Capital, SNB Capital
Legal Adviser to the Obligor: White & Case
Legal Adviser to the JLMs: Allen & Overy

Sukuk Deal of the Year
• The Saudi National Bank
USD 750m Senior Unsecured Sustainable Senior Sukuk
Issued: Jan 2022; Matures: Jan 2027
Sole ESG Structuring Agent and Bookrunner: HSBC
Bookrunners: Citi, EmiratesNBD Capital, Goldman Sachs, Mizuho, SNB Capital
Legal Advisers to the Obligor: Allen & Overy
Legal Advisers to the JLMs: Linklaters

Structured Finance Deal of the Year
• Jabal Omar Development Company
SAR 5.301bn for 225.1m New Share Debt Conversion
Deal Closure: Sept 2022
Financial Advisor: SNB Capital

Transport Finance Deal of the Year
• Tibah Airports Development Company
Sponsors: Al Rajhi Holding, TAV Holding
SAR 2.526bn Senior Secured Loan
Issued: December 2021; Matures: June 2036
Structuring Bank, Mandated Lead Arranger, Underwriter, Participant, and Account Bank: Arab National Bank
Financial Adviser: HSBC
Lenders: Bank Albilad
Legal Adviser to the Borrower: Clifford Chance, Norton Rose Fulbright
Legal Adviser to the Lenders: Herbert Smith Freehills LLP

Water & Utilities Deal of the Year
• Marafiq Red Sea for Energy Company
Sponsors: ACWA Power, Saudi Tabreed, SPIC Huanghe Hydropower Development
USD 1.33bn Senior Secured Limited Recourse Syndicated Project Finance Loan
Issued: December 2021; Matures: Sept 2048
MLAs: APICORP, AlRajhi Bank, Banque Saudi Fransi, Riyad Bank, The Saudi National Bank, SABB, Standard Chartered Bank
Legal Adviser to the Sponsors: Covington & Burling
Legal Advisers to the MLAs: DLA Piper

International IPO/Equity Capital Markets Deal of the Year
• Americana Restaurants International PLC
SAR 6.77bn Abu Dhabi/Saudi Arabia Dual-Listed Initial Public Offering
Issued: Dec 2022
Global Coordinators, Bookrunners and Underwriters: SNB Capital, First Abu Dhabi Bank, Goldman Sachs, Morgan Stanley
Bookrunners: HSBC, EFG Hermes
Legal Adviser to the Company: AS&H, Clifford Chance, Ibrahim & Partners
Legal Advisers to the Underwriters: Allen & Overy, Khoshaim & Associates

Local Market IPO/Equity Capital Markets Deal of the Year
• Arabian Drilling Company
SAR 2.67bn Initial Public Offer
Joint Financial Advisors, Bookrunners and Underwriters: Goldman Sachs, HSBC, SNB Capital
Legal Advisers to the Company: STAT Law Firm and Sullivan & Cromwell
Legal Advisers to the Bookrunners: Baker McKenzie, Abdul Aziz Alajlan & Partners

Bank Funding & Treasury Team of the Year
• Riyad Bank

Corporate Treasury & Funding Team of the Year
• Rawabi Holding

Project Sponsor of the Year
• Tamasuk Holding Company

Best Equity Fund Strategy
• FIM Partners

International Bond House of the Year
• Standard Chartered

Investment Bank of the Year
• HSBC

ESG Bond House of the Year
• HSBC

Equity Capital Markets House of the Year
• SNB Capital

M&A House of the Year
• Saudi Fransi Capital

Structured Finance House of the Year
• SNB Capital

Local Currency Bond House of the Year
• HSBC

Sukuk House of the Year
• Al Rajhi Capital

Loan House of the Year
• SMBC

ESG Loan House of the Year
• HSBC

Project Finance Bank of the Year
• HSBC

Capital Markets Legal Adviser of the Year
• Allen & Overy
• Khoshaim & Associates