Aluminium Bahrain (Alba), the largest aluminium smelter in the world ex-China, was the winner of the ‘Metals & Mining Deal of the Year’ by Bonds, Loans & Sukuk Middle East Awards 2023 held on June 7, 2023 in Dubai.

Alba stood out for being the first Bahraini Company to have successfully achieved sustainability-linked refinancing for its $1.25 billion Syndicated Loan Facility in connection to the Line 6 Expansion Project in April 2022. The new syndication was oversubscribed by $2.6 billion and comprised 21 banks.

Alba was represented in the Awards ceremony by its Sr Head of Treasury, Ali Al Hanan, who received the award on the behalf of the company.

Special recognition

Alba’s Chief Executive Officer, Ali Al Baqali, said: “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. 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.” 

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