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Islamic finance awards 2012: Best sukuk house

Standard Chartered was involved in a large proportion of the most important and most innovative sukuk deals of the year. These include the Republic of Indonesia sukuk – this year’s sukuk deal of year.

Also in sovereign issuance, the bank was bookrunner of Bahrain’s $750 million sukuk in November. The deal helped Bahrain’s gradual rehabilitation in international markets.

Another example of Standard Chartered’s prowess in sukuk can be seen in its bookrunning of the $500 million five-year non-real estate sukuk al ijarah issued by Abu Dhabi Commercial Bank. This was ADCB’s debut sukuk issuance and its first US dollar deal since the Dubai debt crisis erupted in 2009.

The deal priced inside ADCB’s conventional five-year issuance. It was another example of helping the GCC banking sector address its characteristic maturity mismatches between assets and liabilities.

Standard Chartered also led Abu Dhabi Islamic Bank’s $500 million deal in November, which was four times oversubscribed, as well as First Gulf Bank’s $650 million sukuk – the first international sukuk by a conventional bank incorporated in the GCC.

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