HSBC Saudi Arabia has won an award for the “Best Debt House in Saudi Arabia” from Euromoney, a premier global financial publication.

The award was presented during a ceremony in Dubai for Euromoney's annual Awards of Excellence.

Fahad Alsaif, managing director and head of Debt Capital Markets in HSBC Saudi Arabia, received the award on behalf of HSBC.

HSBC also won Euromoney’s awards for the “Best Debt House in the Middle East”, “Best Project Finance House in the Middle East” and “Best Equity House in the Middle East”.

Transactions executed by HSBC Saudi Arabia played a significant role in winning such regional awards.

With this latest award, HSBC Saudi Arabia has won a top investment banking award from Euromoney every year since its inception in the Kingdom.

In the awards presentation Euromoney acknowledged HSBC’s dominant position in and contribution to the debt markets in the Kingdom, stating: “HSBC’s market share in debt capital markets was almost three times as large as its nearest rival.”

“Transactions led by HSBC Saudi Arabia Ltd this year include: the first sovereign-guaranteed Sukuk (SR15 billion ($4 billion) for the General Authority of Civil Aviation), which helped in setting a benchmark for the sovereign yield curve, the debut international Sukuk for Saudi Electricity Company ($1.75 billion), debut Sukuk programmes and debut issuances under such programmes for Almarai (SR1 billion) and Tasnee (SR2 billion), the first Sukuk exchange offer (for SABB, SR1.5 billion).

“In addition, HSBC Saudi Arabia advised Marafiq on their SR4.5 billion syndicated murabaha facility, and are currently advising Ma’aden on their debut SR7 billion corporate syndicated murabaha facility.”

Walid Khoury, CEO of HSBC Saudi Arabia, said: "We are delighted to have again won a top award from Euromoney. This is a gratifying result of our commitment to Saudi Arabia and the quality of resources we have dedicated into our franchise, as well as the trust our clients place in our professionalism and advice.”

“We strive to lead and help in market development, and transactions such as the GACA Sukuk and debut programme Sukuk are demonstrative of the innovation we bring into the market." – TradeArabia News Service