Deals of the Year Handbook

15 days to go 31st March 2014

Deals of the Year demonstrates another bumper year for Islamic finance It was another action-packed year for Islamic finance in 2013, and the IFN Deals of the Year Awards displayed the exceptional development of the industry over the past 12 months. Although Sukuk performance saw a less stellar performance than 2012 on the back of Fed tapering fears, the capital markets continued to soar: boosted by strong equity performance and ongoing strides in innovation and deal size. While structures tended to err on the side of old favorites we certainly saw some exciting new deals emerge, with our overall winner IILM surging forward to take the prize with a landmark deal that we can hope will alter the face of Islamic institutional liquidity management globally. The leading markets remained strong: with the UAE, Malaysia and Saudi Arabia all pushing forward to expand their domestic markets. However we also saw a multitude of newer players surge forward, including Turkey, Pakistan, Egypt, Nigeria and Oman: all of which bode well for the ongoing development of the market. With a record-breaking 400 deals nominated in more than 30 categories, the size and scope of the IFN Deals of the Year continues to grow, making it one of the most respected and sought-after accolades of the industry. In the latest Deals of the Year Supplement we bring you the best of the best of the Islamic finance transactions from 2013 – and we can assure you that it is an inspiring read. CASE STUDIES Deal of the Year & Sukuk Deal of the Year IILM’s US$2 billion Sukuk program In August 2013, the International Islamic Liquidity Management Corporation (IILM) successfully launched a US$2 billion Sukuk program. The program was assigned a short-term rating of ‘A1’ by S&P. Best Islamic Bank Jordan Solid principles with innovative solutions In culmination of the ongoing efforts in developing products and services of Islamic banking, Jordan Dubai Islamic Bank (JDIB) was awarded the ‘Best Islamic Bank in Jordan for 2013’ at a ceremony held on the 24th February in Dubai, organized by REDmoney Group, the parent company of Islamic Finance news (IFN). Equity Deal of the Year Total control: BIMB Holdings’ acquisition of Bank Islam Malaysia’s pioneer Shariah compliant investment holding company, BIMB Holdings (BIMB), made a move to acquire a combined 49% stake in Bank Islam from Dubai Financial Group (DFG) and Malaysia’s Hajj pilgrimage fund board Lembaga Tabung Haji (LTH). IPO Deal of the Year Al Noor Hospital IPO: A bellwether for UAE companies seeking to list internationally Al Noor Hospitals Group, the largest integrated healthcare private service provider in Abu Dhabi, has floated a GBP221 million (US$330 million) initial public offering (IPO) on the London Stock Exchange (LSE) on the 21st June 2013. Project Finance & Infrastructure/Saudi Arabia Deal of the Year Sadara Chemical Company’s Sukuk oversubscribed As part of a US$19.3 billion fundraising package, Sadara Chemical Company, issued a SAR7.5 billion (US$2 billion) Sukuk Musharakah through its SPV, Sadara Basic Services Company. Africa Deal of the Year Sub-Saharan Africa’s first Sukuk issuance: Osun State, Nigeria Carving a mark in history, Nigeria auctioned its first NGN10 billion (US$59.82 million) Sukuk Ijarah on the 10th October 2013. Issued by the government of Osun State, the seven-year Sukuk is due for maturity in the year 2020 at a profit rate of 14.75%. Europe Deal of the Year FWU’s Sukuk Wakalah Program Atlanticlux Lebensversicherung a ‘BBB’ rated, multinational insurance provider, and a subsidiary of German-based FWU, which focuses on customized investment products linked to life insurance and pension schemes, successfully auctioned the first series of its US$100 million Covered Sukuk Wakalah Issuance Program which has been assigned an investment grade credit rating by Fitch. Indonesia Deal of the Year Golden Agri-Resources’ US$490.95 million Sukuk Murabahah Golden Agri-Resources (GAR), a Singapore-listed palm oil plantation company, issued a RM1.5 billion (US$490.95 million) Sukuk Murabahah on the 19th November 2012, as part of a 15-year ringgit-denominated Islamic medium-term notes program of up to RM5 billion (US$1.52 billion). Turkey Deal of the Year Providing innovative trade finance solutions The International Islamic Trade Finance Corporation (ITFC) is an autonomous entity within the IDB Group created with the purpose of advancing trade to improve the economic condition and livelihood of people across the Islamic world. UAE Deal of the Year Comeback kid: Dubai hits back with the first sovereign Sukuk of 2013 The government of Dubai, via its department of finance, has successfully issued a dual-tranche bond with a Sukuk feature, worth US$1.25 billion. AWARDS RESULTS Deals of the Year Results Some bankers and analysts were disappointed that 2013 brought a less robust performance in the Sukuk sector than 2012’s record-setting year. However, the leading markets continued to cement their strong performance, while new players also emerged on the scene to demonstrate the ever-widening global scope of the Islamic capital market. AWARDS DINNER Kuala Lumpur Awards Dinner - 19th February 2014 Dubai Awards Dinner - 24th February 2014 Contacts Advertising Opportunities Geraldine Chan Director & Deputy Publisher Geraldine.Chan@REDmoneyGroup.com Direct Line: +971 4 427 3628 Mobile: +971 55 108 5450 Fax: +971 4 431 4614 Mohamed Maksoud Head of Business Development EMEA Mohamed.Maksoud@REDmoneyGroup.com Direct Line: +971 4 427 3624 Mobile: +971 56 708 2404 Fax: +971 4 431 4614 Steve Stubbs Business Development Manager Steve.Stubbs@REDmoneyGroup.com Direct Line: +603 2162 7800 ext 55 Fax: +603 2162 7810 Subscription Opportunities Ifran Tarmizi Subscriptions Manager Ifran.Tarmizi@REDmoneyGroup.com Direct Line: +603 2162 7800 ext 63 Fax: +603 2162 7810 Mithun Gangolli Accounts Manager - Subscriptions Mithun.Gangolli@REDmoneyGroup.com Direct Line: +971 4 427 3638 Mobile: +971 5 67314913 Fax: +971 4 431 4614 Musfaizal Mustafa Subscriptions Director Musfaizal.Mustafa@REDmoneyGroup.com Direct Line: +603 2162 7800 ext 24 Fax: +603 2162 7810 Nurazwa Rabuni Administration & Support Executive Nurazwa.Rabuni@REDmoneyGroup.com Direct Line: +603 2162 7800 ext 68 Fax: +603 2162 7810