Aluminum Bahrain B.S.C. (Alba), the largest aluminum 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 at June 7 at Madinat Jumeirah Conference Centre, Dubai.
Alba was represented in the Awards ceremony by Ali Al Hanan, Senior Head of Treasury, who received the award.
“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,”Ali Al Baqali, Alba’s Chief Executive Officer said.
“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 recognizing 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 $1,247,475,000 Syndicated Loan Facility in connection to the Line 6 Expansion Project in April 2022. The new syndication was oversubscribed by $2.6 billion and comprises 21 banks.
Source: Bahrain News Agency