HSBC has been recognised by The Banker magazine for nine of their ‘Deals of the Year 2022’ in the Middle East region. The deals, which covered bonds, group financing, Islamic finance, sustainable finance, M&A, loans and restructuring were drawn from across the region, and clients included Saudi Aramco, NBK, Qatar Energy, EIG and Apicorp.

This year saw HSBC’s recognised deals increase from six to nine, and included Qatar Energy’s $12.5bn triple tranche bond, for which the bank was active joint bookrunner. The bank was also recognised for its role as joint lead manager for the UAE’s $4bn triple tranche bond and the group financing of NBK’s $1bn medium-term notes.

“Our unrivalled presence and experience across this region gives us a unique perspective on the scale of the opportunity ahead, the channels and flows of global capital, and the role we can play in opening those up for our clients, which I’m pleased to see recognised in these significant deals,” said Gareth Thomas. 

“Billions of dollars are being raised to drive long term investment, and the already substantial appetite of global investors for exposure to the region is increasing. This is something we see firsthand in our business and supports our strategic goal to focus on our strengths and be the world’s leading investment bank connecting East and West,” Thomas added.

The awards for HSBC come as the region continues to recover from the effects of the global COVID-19 pandemic – particularly the Gulf Cooperation Council states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, bolstered by revenues from robust oil prices that fund their investment-led, sustainably-focused economic transformation initiatives.

The bank’s economists forecast GCC GDP growth of 5.4% in real terms in 2022 – the fastest in at least a decade – and 3.5% in 2023, citing particular strength in Saudi Arabia, the UAE and Qatar.

The Banker – Deals of the Year 2022

HSBC were recognised by The Banker for the following noteworthy deals for 2022:

Bonds: Corporate
Qatar Energy’s $12.5bn triple tranche bond
Global coordinators: Citi and JPMorgan
Active joint bookrunners: Citi, Deutsche Bank, Goldman Sachs, HSBC, and JPMorgan
Structuring agents: Bank of America, Credit Suisse, MUFG and QNB Capital

Bonds: sovereign, supranational and agency
UAE’s $4bn triple tranche bond
Joint lead managers: Abu Dhabi Commercial Bank, Bank of America, Citi, Emirates NBD, First Abu Dhabi Bank, HSBC, JPMorgan, Mashreq and Standard
Chartered
Structuring agents: Bank of America, Abu Dhabi Commercial Bank, Emirates NBD, First Abu Dhabi Bank, and Mashreq

Financial institutions group financing
NBK’s $1bn medium-term notes
Joint global coordinators: Citi, JPMorgan and NBK Capital
Joint lead managers: Bank of America, Goldman Sachs, HSBC, MUFG, and Standard Chartered

Islamic Finance
Saudi Aramco’s $6bn multi tranche inaugural sukuk
Active bookrunners: Al Rajhi Capital, Alinma Investment, BNP Paribas, Citi, First Abu Dhabi Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, NCB Capital, Riyad Capital, Standard Chartered, and Sumitomo Mitsui

Leveraged Finance
Arabian Centres Company’s $650m sukuk and $225m tap
Initial issuance
Joint global coordinators and bookrunners: Albilad Investment Company, Credit Suisse, Goldman Sachs, HSBC, JPMorgan, Kamco Invest, and Warba Bank
Tap issuance
Joint global coordinators and bookrunners: Goldman Sachs and HSBC

Loans
EIG’s five-year acquisition financing bridge facility
Underwriters and bookrunners: BNP Paribas, Citi, First Abu Dhabi Bank, HSBC, JPMorgan, Mizuho, MUFG and Sumitomo Mitsui
Bookrunners: Abu Dhabi Commercial Bank, Bank of China, Crédit Agricole, and Standard Chartered
Mandated lead arrangers: Natixis, Riyad Bank and Société Générale

M&A
EIG’s acquisition of 49% stake in Aramco Oil Pipelines
Financial adviser to Aramco: Moelis & Co
Financial adviser to EIG: HSBC

Restructuring
Saudi Electricity Company’s
SAR168bn recapitalisation exercise
Sole financial adviser: HSBC

Sustainable finance
Apicorp’s inaugural $750m green bond
Global coordinators, joint lead managers and bookrunners: Bank of America, Barclays, Crédit Agricole, HSBC, JPMorgan, LBBW, Nomura, and Standard Chartered 

-Ends-

Media enquiries to:
Will Blair
will.blair@hsbc.com

About HSBC in the MENAT region

HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Turkey (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi British Bank (SABB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$71bn as at 31 December 2021.