UAE. For the second consecutive year, Dubai Duty Free (DDF) has been singled out by the EMEA Finance Achievement awards, to win “˜Best Restructuring in the Middle East’. Organised by EMEA Finance Magazine, the award was presented at the annual charity dinner which took place on 4 June at One Whitehall Place in London.
The airport retailer was recognised 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 7 August 2014 and were successfully completed on 8 October of that same year. Both loans involved conventional and Islamic Facilities.
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Bernard Creed, Vice President Finance of Dubai Duty Free and Bharat Jhaveri, Manager-Finance of Dubai Duty Free with the EMEA Achievement Award received recently in London |
Commenting on the award, DDF Executive Vice Chairman Colm McLoughlin noted: “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. In 2013 it was awarded with Best Syndicated Loan in the Middle East, which recognised its debut international financing of US$1.75 billion.
The EMEA Finance Achievement Awards have been held for the past eight consecutive years. They recognise 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.
Prior to this year’s award ceremony, DDF Vice President Bernard Creed, 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’.
