Ground breaking deals from the Middle East recognised in the GFC Bonds, Loans & Sukuk Awards 2021

The 2021 GFC Bonds, Loans & Sukuk Awards recognised three transactions in which Crédit Agricole CIB was involved.

Photo of trophies

The annual GFC Bonds, Loans & Sukuk Awards recognise the most ground-breaking deals from sovereign, corporate, and financial institutions issuers and borrowers in the Middle East. In 2021, they rewarded three 3 deals in which Crédit Agricole CIB was involved.

Syndicated Loan Deal of the Year: DP World’s Hybrid Sukuk

In June 2020, Dubai World’s multinational logistics subsidiary, DP World, closed a US$ 9 billion Financing package and subsequent $1.5 billion Hybrid Sukuk Offering.

Crédit Agricole CIB acted as Bookrunner and Mandated Lead Arranger on this major deal.

Photo of Tarek Bachnak“This transaction is a great example of strong cross-border teamwork across multi-products which produced excellent results for the Bank and the client.”

Tarek Bachnak, Head of Debt Optimisation & Distribution MEA



Photo of Roneil Thadani“We are very proud of the closing of this landmark financing for DP World, the first Acquisition Finance & Advisory (AFA) transaction in the region. It illustrates the strength of our platform, commitment to the region and our ability to deliver a successful outcome for our clients even in challenging times.”

Roneil Thadani, Head of Acquisition Finance & Advisory London



ESG Sustainable Finance Deal of the Year: the Arab Republic of Egypt’s Green Bond

In September 2020, the Arab Republic of Egypt priced its inaugural Green Bond, a USD 750 million Rule 144A/Regulation S USD benchmark Green Bond offering with a 5-year tenor.

Crédit Agricole CIB acted as Joint Structuring Advisor on this issuance, the first-ever sovereign green bond in the Middle-East & North Africa (MENA) region.

Read more about this transaction here.

Photo of Widad Gassab
“This transaction being the first MENA sovereign Green bond is testament to both Crédit Agricole CIB and Arab Republic of Egypt’s commitment to sustainability while emphasizing the strength of our relationship with this client. This prestigious transaction will have substantial franchise value with other sovereigns in the MENA region that are currently exploring Sustainability as part of their Vision Plans.”

Widad Gassab, Debt Capital Markets MENA


Project Finance Deal of the Year: Galaxy Pipelines

In July 2020, a consortium of six international investors acquired a 49% stake in a long-term lease agreement for existing gas assets owned and operated by ADNOC, Abu Dhabi's national hydrocarbon company.

Crédit Agricole CIB acted as Mandated Lead Arranger on the 3-year USD 8 billion acquisition bridge financing and as provider of the interest rate hedging on this financing, and in November 2020 as Joint Lead Manager on bond refinancing partial and as coordinator of the unwinding of interest rate hedges.

Photo of Tanguy Quintart“The award received attests to the strength of CACIB's structured financing solutions in the energy infrastructure sector. The result is the coordinated effort of several origination, structuring and distribution teams within the bank, demonstrating our commitment to the Gulf region.”

Tanguy Quintart, Head of Oil & Gas Project Finance EMEA (Structured Finance - Energy & Infrastructure Group)