Abu Dhabi, January 25, 2015: FGB, one of the leading banks in the UAE, looks to maintain strong growth in 2015 having already closed a USD 313.7 million secured syndication facility on behalf of Dalma Energy. The deal follows recent news that during 2014 the bank's Wholesale Banking Group became the leading arranger for syndicated loans in the UAE.

In 2014, FGB extended USD 2.65 billion in credit - more than five times the amount offered by the bank in 2013 and the highest volume for FGB since 2007. Having climbed from tenth position in 2013, to number one in 2014, FGB is currently the top mandated lead arranger/loan arranger in the UAE, gaining the largest increase in market share amongst its competitors last year.

The bank has also secured second position for syndicated loans in the MENA region, from 34th place in 2013, and is the third leading Islamic loan mandated lead arranger in the EMEA region, moving up from 21st position for the previous year.

Simon Penney, Head of Wholesale and International Banking, said: "Our Debt Markets and Syndications division, which led the deal, was first established in September 2013, so reaching the number one position locally and coming in second for the MENA region is an incredible achievement in such a short space of time. We're also very pleased to see our efforts in Islamic financing paying off, and reaching this position as third leading Islamic loan mandated lead arranger is fantastic news."

Since the establishment of the Debt Markets and Syndications division, FGB has worked on a number of significant Islamic and conventional deals for clients across various sectors, including real estate, hotel development, oil and gas, manufacturing, food, aircraft and shipping.

The bank acted as sole underwriter and mandated lead arranger for a USD 313.7 million seven-year senior secured syndication facility on behalf of international drilling contractor, Dalma Energy. The proceeds of the funded facility were used to refinance existing debt, whilst the unfunded facility of USD 13.7 million was used to re-issue guarantees.

Steve Perry, FGB's Head of Debt Markets and Syndications, said: "As Dalma Energy's operations are based in several international locations, the transaction was a complex one. We overcame this challenge however, working closely with the client's management to successfully establish a well-structured security package and deal structure. This was a significant deal for the bank, cemented our position as the UAE's top mandated lead arranger. The transaction also supported our strategy to structure major transactions and then to distribute. We are continuously working towards establishing ourselves as a lead advisory, underwriting and distribution bank."

In line with WBG's growth strategy FGB has strengthened its Debt Capital Markets business with the appointment of Giuseppe Ruggiero, ex-Goldman Sachs Group Inc. banker.

Dalma Energy is the third largest owner of land drilling rigs in the MENA region. The company owns and operates  31 land rigs throughout the Gulf and  North Africa  and has a range of national and multinational clients, including Saudi Aramco, Petroleum Development Oman, Sonatrach, CEPSA and BP.

Al Qahtani Investments LLC, the parent company of Dalma Energy, is majority owned by Abdel Hadi Abdullah Al Qahtani & Sons Co established in 1948 with a footprint on four continents, is a leading and diversified Saudi Group involved in oil & gas manufacturing & services, logistics & trading and Al Nasser Investments, a subsidiary of Al Nasser Holdings LLC, an Abu Dhabi based Group operates in MENA specializes in oilfield services, retail, manufacturing in steel, power, polymers, cathodic protection, real estate and financial investments.

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About FGB
As a major leading bank in the UAE, FGB had Shareholder Equity of AED 32.4 billion as of September 30th, 2014 making it one of the largest equity based banks in the UAE. Established in 1979 and headquartered in Abu Dhabi, UAE, the bank offers a full range of financial services to business and consumer sectors throughout an extensive network of branches across the UAE. Internationally, FGB has branches in Singapore and Qatar, representative offices in India, Hong Kong, Seoul and London and a subsidiary in Libya.

Today, FGB is recognised as a world-class organisation committed to maximising value for shareholders, customers and employees as it focuses on delivering banking products and services that meet client needs and support the UAE's dynamic economy. In line with its commitment to excellence the bank continues to invest significantly in people and technology to provide superior service standards. FGB was named the 'Best Bank in the United Arab Emirates' and 'Best Wealth Management Firm' at the Banker Middle East Industry Awards 2014. It was also ranked as the 8th most powerful company in the Arab World in Forbes' 'Top 500 companies in the Arab World' list. FGB was also recently recognised as an "Employer of Choice" at the GCC Best Employer Brand Awards 2014 and has been honoured in the SME Banking Sector category of the inaugural Enterprise Agility Awards.

Hiba Haddad
Weber Shandwick MENA
Phone: + 971 56 1679577
Fax: + 971 2 449 4833
Email:  hhaddad@webershandwick.com

© Press Release 2015