First Abu Dhabi Bank (FAB) again takes the award for the Middle East’s best bank for financing. Under its head of global corporate finance, Andy Cairns, the Abu Dhabi-based lender led the way in MENA, completing $4.75 billion worth of loans – more than any of its rivals, local or global – for a 19% share of the market. It was the key regional player in ECM and debt capital markets in the awards period, demonstrating again why it is so strong in this category.
“Across loans, fixed income and equity, local investor momentum is critical to successful deal execution for Middle East issuers,” says Cairns. The bank is historically stronger on the debt side, but Cairns describes the traction FAB is getting in ECM and advisory work as “encouraging to see.” FAB ranked number two in loan bookrunning, closing 130 bilateral, syndicated and club transactions in the awards period, and was the top-rated facility agent, with a 21.3% market share.
What also makes FAB strong is not just the breadth of its team – it has 20 bankers in the US, UAE and Asia who specialize in project, real estate and syndicated finance – but also its depth. It was the top-ranked regional bank in Middle East G3 bonds and sukuk in the year to the end of March 2021, completing 31 deals worth $7.68 billion.
Among the capital markets deals that stand out during the awards period, were its role as joint bookrunner on Burgan Bank’s $500 million sale of tier-2 bonds and an $8 billion print of senior unsecured notes by Saudi Aramco in November 2020. FAB worked on a $7.96 billion term loan facility for Global Infrastructure Partners, to fund its acquisition of a stake in Adnoc Gas Pipeline Investment, with the Gulf lender acting as joint coordinator, bookrunner, mandated lead arranger and facility agent on the deal.
