Ahli United Bank wins prestigious Euroweek award for $800m syndicated loan facility

Despite the weakened economic conditions that prevailed then, which challenged the ability of many banks to raise funding, AUB's syndicated loan was substantially oversubscribed and was, in fact, the largest sum raised by a GCC bank in 2008.

In its Annual Review 2008 and Outlook 2009 Awards issue, Euroweek named AUB's loan facility 'Best Middle Eastern Loan for Financial Institutions' and 'Best Bahraini Loan'. In addition, the bank was awarded 'Best Bahraini Loan Borrower' ahead of two other prominent, local institutions.

Euroweek's renowned awards are conferred on the basis of data collected from the publication's annual poll of market participants including bankers, borrowers and investors to ascertain the best transactions and overall best banks and borrowers in various categories across different countries.

"It is rewarding to be recognised by Euroweek for a major deal that bucked the prevailing trend in capital markets. The overwhelming response to the facility despite difficult market conditions speaks volumes of AUB's leading reputation and the underlying confidence that participating banks have in our long term strategies and core values," said David Hatton, Group Head, Financial Institutions, AUB.

28 banks from across the Middle East, Europe, North America and Asia participated in AUB's $800m syndicated loan facility.

The loan facility was arranged by Bayern LB, Commerzbank, Lloyds TSB Bank, Mizuho Corporate Bank and The Royal Bank of Scotland.

Ahli United Bank B.S.C. (AUB) has also been named 'Best Bank in the Middle East 2009' by reputed New York-based banking publication Global Finance magazine.

In addition, AUB was also recognized as the 'Best Bank in Bahrain'. This is the fourth consecutive year AUB has won this prestigious accolade in Global Finance's survey of 'Best Emerging Markets Banks in the Middle East', in yet another testimony to the Bank's leading position across the Middle East.