|
||||||||||||
TDIC Awarded ’The Asset Triple A Best Deal - Middle East’ In The Asset Triple A Islamic Finance Awards 2010 |
||||||||||||
|
Tourism Development & Investment Company (TDIC), a master developer of major tourism, cultural, residential destinations in Abu Dhabi, has been awarded ‘The Asset Triple A Best Deal – Middle East’ in ‘The Asset Triple A Islamic Finance Awards 2010’, for its US$1 billion Sukuk Al Ijara at an awards ceremony in Kuala Lumpur. Adjudicated on both qualitative and quantitative criteria by The Asset magazine’s Board of Editors, The Asset Triple A Awards are Asia’s defining standard for excellence in the financial industry. Lee Tabler, TDIC’s Chief Executive Officer, commented on the achievement: “Islamic Finance is playing an ever greater role in international financial markets and this award, the third that TDIC’s Sukuk Al Ijara has won this year, further emphasises the significant impression that TDIC has made on global investors. TDIC is committed to strengthening its role and relationship within both Islamic and conventional financial markets and we are honoured to have received a prestigious Asset Triple A Islamic Finance Award.” TDIC issued the largest GCC sukuk in October 2009 with its inaugural US$1bn 5-year Sukuk Al Ijara under a US$1.45bn Global Sukuk Trust Certificate Issuance Programme. The transaction was the first sukuk issuance by an Abu Dhabi Government 100% owned entity. It received extensive international interest, generating the largest order book for a global Sukuk issuance in 2009, with over 220 investors placing orders in excess of US$6.7 billion. The Sukuk further complemented and supported the US$1 billion bond issued in July 2009 which represented the inaugural issuance under TDIC’s US$3 billion Global Medium Term Note (GMTN) programme. The issue of notes attracted substantial interest from global investors with a total order book exceeding US$ 6 billion from over 300 investors. Previously winning the ‘Real Estate Deal of the Year’ and the ‘UAE Deal of the Year’ at the Islamic Finance News Awards in March this year for their 2009 Sukuk transaction, TDIC’s key focus is the development and delivery of key tourism infrastructure in line with Abu Dhabi’s 2030 vision for a wider economic diversification strategy. |
||||||||||||
