Supplements

Deals of the Year 2013 Handbook

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.

 

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Contents: 

 

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 Programme
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

 

AWARDS DINNERS

Kuala Lumpur Awards Dinner - 19th February 2014
Dubai Awards Dinner - 24th February 2014

Saturday, 01 March 2014