The National Bank of Kuwait (NBK) has won the 'Best Deal of the Year’ award from The Banker, a Financial Times publication and world's premier banking magazine, for its leading role in the $1.2 billion syndicated loan to Orascom Telecom.

NBK deputy CEO Shaikha Khalid Al Bahar said it was an honor to be recognized through the The Banker Magazine, award for the lead role that NBK had played in the Orascom Telecom deal.

'We are extremely proud of being the sole arranger and book runner for this unique transaction, which involved two of the top telecom companies in the region, Zain and Orascom Telecom, and spanned over three countries; Kuwait, Egypt and Iraq,' she added.

Al Bahar added that winning this prestigious award and the selection of this specific deal out of some 490 entries provided another profound testament to the leading position that NBK enjoys across the region, as well as NBK’s ability to arrange and execute mega deals for its corporate clients across the Middle East.

She pointed out that NBK was successful in both structuring a unique transaction, and leading a group of 12 regional and international banks that raised more than $1.2 billion for the deal, within record time and through turbulent market conditions.

'We are very proud of our lead role in this deal, which matched the strategy of two of our major corporate clients, Zain and Orascom Telecom. This transaction followed the $1.2 billion sale of Iraqna, Orascom’s subsidiary in Iraq, to Zain Iraq,' Tony Daher, AGM-Corporate Banking Group said.

'NBK stepped in and structured a unique loan through which Orascom Telecom was able to monetize the total amount of its $1.2 billion receivable from Zain,' he noted.

Daher added that “Winning the Banker's ‘Best Deal of the Year’ award also reflects the success of NBK’s own strategy to be the trusted partner to our corporate clients by creating value through strategic and financial solutions.'

Daher was also deeply appreciative of the high level of co-operation that NBK received from both Orascom Telecom and Zain throughout the transaction, as well as the high level of commitment from the bank group.

NBK, the sole arranger and book runner for the transaction, was joined by a syndicate of international and regional institutions, including: Calyon Corporate and Investment Bank and Gulf Bank as co-arrangers and mandated lead arrangers, Al Ahli Bank of Kuwait, Mashreq Bank, Arab International Bank, Arab Bank, Qatar National Bank, Al Khaliji Commercial Bank, Ahli United Bank, Arab African International Bank and International Bank of Qatar, as mandated lead arrangers.-TradeArabia News Service