Middle East’s best bank for financing 2023: HSBC
HSBC wins the award for the Middle East’s best bank for financing this year. During the awards period the bank topped the equity capital markets league tables, completing 12 deals – more than any other financial institution – worth just over $4 billion, according to Dealogic.
The bank was strong across the capital markets. In debt capital markets, it ranked third during the awards period, completing 37 deals in the 12 months to the end of March 2023, for a total capital raise of $6.8 billion. And in loans it was dominant. HSBC was a bookrunner on 22 loans worth $9.2 billion and was a mandated lead arranger on 30 loans worth $7.5 billion, according to Dealogic.
There were many landmark issues. HSBC was a joint bookrunner on Americana’s IPO, which raised $1.8 billion for the Middle Eastern operator of Pizza Hut and KFC outlets in November 2022. It was the first dual listing by a regional corporate in Riyadh and Abu Dhabi; a deal that drew $105 billion in orders and valued the business at $6 billion in a tough year for big-ticket ECM deals.