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Dubai Duty Free Wins EMEA Finance Achievement Awards "Best Restructuring In The Middle East" For Second Year In A Row
(4 June 2015)

 

For the second consecutive year, Dubai Duty Free has been singled out by the EMEA Finance Achievement awards to win the award for “Best Restructuring in the Middle East”. Organised by EMEA Finance Magazine, the award was presented at the annual charity dinner which took place on Thursday, 4th June at One Whitehall Place in London.

The airport retailer was adjudged for its efforts and accomplishments in securing its two loans of US$1.75 billion and US$750 million, which were launched for re-pricing simultaneously on 7th August 2014 and were successfully completed on 8th October of that same year. Both loans involved conventional and Islamic Facilities.

Commenting on the award, Colm McLoughlin, Executive Vice Chairman of Dubai Duty Free said, “We are delighted to win this recognition for the second time as it clearly highlights the confidence that the banking community has in Dubai Duty Free and sets a benchmark for our funding strategy. I would also like to commend our team in the Finance Department for their support and hard work on the loan repricing”.

In 2014, the airport retailer won the award for Best Restructuring in the Middle East while in 2013, it was awarded with Best Syndicated Loan in the Middle East, which recognised its debut international financing of US$1.75 billion.

Prior to the award ceremony, Bernard Creed, Vice President of Finance at Dubai Duty Free along with Arnat Abzhanov, Chairman of the Management Board of JSC Halyk Finance joined the inaugural Dealmakers Forum moderated by David Greenbaum, Head of Corporate and Financial Debt –Deutsche Bank.

The one-day event brought together key players from across the emerging markets of Central and Eastern Europe, the Middle East and Africa (CEEMEA), for discussion and debate with a view to highlighting the theme “Focus on Fund Raising”. The forum was very well received and proved to be an inspiration for those parties already active in the CEEMEA region. 

The EMEA Finance Achievement Awards have been held for the past eight consecutive years recognising the achievements of the best commercial, investment and Islamic banks, as well as asset managers and brokers in countries across the Middle East, Europe and Africa Region.

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