Alba wins Bonds, Loans & Sukuk Middle East Award for 2023

Manama, June 12 (BNA): Aluminum Bahrain B.S.C. (Alba), the world’s largest aluminum smelter excluding China, has been named the Metals and Mining Deal of the Year at the Middle East Bonds, Loans and Sukuk Awards. 2023 will be held on 7 June at the Madinat Jumeirah Convention Centre, Dubai.

Alba was represented at the award ceremony by Ali Al Hanan, the first head of the treasury to receive the award.

“We are humbled to have been awarded this special recognition, which testifies to our ‘thinking outside the box’ approach to refinancing our loan and linking it to ESG objectives,” said Ali Al Baqali, Chief Executive Officer of Alba.

“We believe that sustainability knows no borders as we aim to enhance our efforts on all environmental, social and governance fronts to achieve the Kingdom’s sustainability goals.”

Since 2014, the Middle East Bonds, Loans & Sukuk Awards have honored the most innovative financing deals from issuers, corporate borrowers and sovereign financial institutions. Alba this year had the distinction of being the first Bahraini company to successfully refinance a sustainability-linked facility to syndicate the loan amounting to US$ 1,247,475,000 in connection with the Line 6 Expansion Project in April 2022. The new co-subscription was in excess of US$ 2.6 billion and includes 21 banks. .

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