OREANDA-NEWS. The SABIC Sukuk deal has been named “Sukuk Deal of the Year” and “Saudi Arabian Deal of the Year” by Islamic Finance News. The awards were presented to SABIC, as Issuer; and HSBC, as Lead Manager, at an awards ceremony in Dubai on Monday, 12th March 2007.Islamic Finance News is the industry's leading, capital markets focused, e-newsletter providing over 15,000 individuals with unrivalled editorial coverage of the global Islamic financing market.All the awards nominated were assessed along specific criteria and had to emphasis the rationale for nomination. The SABIC Sukuk was awarded in two categories for being a landmark transaction in a rising market; it gave the market a profitable and fixed income alternative to equity market investments. Also, by carrying out the transaction, SABIC and its advisors took the lead in educating the local market about capital market instruments, and with the assistance of the regulatory bodies, set the groundwork for all subsequent Saudi instruments.