Alba bags Metals & Mining Deal of the Year award for 2023
Aluminium Bahrain (Alba), the world's biggest aluminium smelter outside of China, was named the 'Metals & Mining Deal of the Year' at the Bonds, Loans & Sukuk Middle East Awards 2023. Alba was represented at the Awards event by its Senior Head of Treasury, Ali Al Hanan, who accepted the prize on the company's behalf. The event occurred on 07 June 2023 at Madinat Jumeirah Conference Centre in Dubai.
"We are humbled to have been given this special recognition, which attests our approach to 'thinking outside the box' with refinancing our loan and linking it to ESG targets. We believe that Sustainability knows no borders as we aim to boost our efforts on all ESG fronts to meet the Kingdom's sustainability objectives," said Alba's Chief Executive Officer Ali Al Baqali.
This year, Alba distinguished itself as the first Bahraini company to successfully secure sustainability-linked refinancing for its US$1,247,475,000 Syndicated Loan Facility with the Line 6 Expansion Project of April 2022.
The new syndicate, which includes 21 institutions, was oversubscribed by $2.6 billion. The Bonds, Loans, and Sukuk Middle East Awards have been celebrating the best creative finance arrangements from Sovereign, Corporate, and Financial Institution issuers and borrowers since 2014.
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