Alba wins Bonds, Loans & Sukuk Middle East Award

TDT | Manama                                                

The Daily Tribune – www.newsofbahrain.com     

Aluminium Bahrain BSC (Alba), the largest aluminium smelter in the world ex-China, was the proud winner of the ‘Metals & Mining Deal of the Year’ by Bonds, Loans & Sukuk Middle East Awards 2023 held on 7th June at Madinat Jumeirah Conference Centre, Dubai.

Alba was represented in the Awards ceremony by its Sr. Head of Treasury, Ali Al Hanan, who received the award on the behalf of the Company.

Commenting on this award, Alba’s Chief Executive Officer Ali Al Baqali stated, “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.”

Since 2014, the Bonds, Loans & Sukuk Middle East Awards have been recognising the most innovative financing deals from Sovereign, Corporate and Financial Institution issuers and borrowers.

This year, Alba stood out for being the first Bahraini Company to have successfully achieved sustainability-linked refinancing for its US$1,247,475,000 Syndicated Loan Facility in connection to the Line 6 Expansion Project in April 2022.

The new syndication was oversubscribed by US$2.6 billion and comprises 21 banks.