Hogan Lovells has advised Al Bayan Group Holding Company (Al Bayan or the Group), a Saudi-based conglomerate, on its RM200.0 million sukuk, issued on the 24th April 2013, out of its inaugural RM1.0 billion Sukuk Wakalah Programme (the Sukuk Programme) – the first Malaysian Ringgit Sukuk Programme to be established by a Saudi corporate issuer and the first issuance by a Saudi corporate issuer of Malaysian Ringgit denominated sukuk in the Malaysian debt capital market to date. The landmark sukuk has been issued via Al Bayan’s special-purpose vehicle incorporated in Malaysia, ABHC Sukuk Berhad (more…)
Latham & Watkins acted for the Managers and the Delegate on Saudi Electricity Company’s (SEC) issuance of US$1 billion Sukuk Certificates due 2023 and US$1 billion Sukuk Certificates due 2043. The transaction represents the first international 30 year Sukuk issuance by any issuer (more…)
King & Spalding advised Sadara Chemical Company during the tendering and bid evaluation for an operations and maintenance agreement for packaging and shipping with Al Majdouie De Rijke Limited Company (more…)
Amar Meher has joined the Law Office of Salman M. Al-Sudairi in association with Latham & Watkins in Riyadh as counsel in the Finance Department. Meher’s practice focuses on conventional and Islamic finance, debt restructurings, debt capital markets, and Shari’ah-compliant structured products, most notably Shari’ah-compliant investment funds (more…)
Clifford Chance and Al-Jadaan & Partners Law Firm advised Mondelēz International on a joint venture with Olayan Group and Khalifa Algosaibi Group to launch a distribution joint venture in the Kingdom of Saudi Arabia (KSA) (more…)
International law firm Clifford Chance, in conjunction with Al Jadaan & Partners Law Firm, has advised The National Shipping Company of Saudi Arabia (Bahri) in relation to the proposed US$1.3 billion merger of the fleets and operations of Bahri and Vela International Marine Ltd., a wholly-owned subsidiary of Saudi Aramco. The definitive transaction documents were signed in Riyadh on 4 November 2012 (more…)
Global law firm White & Case has advised Saudi Arabian Oil Company (Saudi Aramco) on the proposed US$1.3 billion merger of the fleet and operations of its wholly owned subsidiary, Vela International Marine Ltd, with the National Shipping Company of Saudi Arabia (Bahri) (more…)
Global legal practice Squire Sanders announces that it has expanded its Middle East practice through the acquisition of El-Khoury & Partners MENA business, which formerly operated in Saudi Arabia as EK Partners & Al-Enezee. The acquisition has strengthened Squire Sanders’ presence in the region as it now opens a fully integrated office in Riyadh operating as Al-Enezee in association with Squire Sanders (more…)
King & Spalding represented Samba Financial Group as the lead arranger on a SAR517 million (USD137.9 million) Shari’ah-compliant acquisition financing, with the facility increased by a further SAR200 million (USD53.3 million) on September 30, 2012 (more…)
Latham & Watkins advised the underwriters, Samba Capital, Saudi Fransi Capital, AlJazira Capital and Saudi Hollandi Capital, in connection with the IPO of Al Tayyar Travel Group, a Saudi established travel services company. The transaction, which was five times oversubscribed, comprised an offer of 24,000,000,000 ordinary shares representing 30% of Al Tayyar Travel Group’s share capital to both institutional and retail investors in the Kingdom and is the largest IPO in Saudi Arabia so far this year (more…)
Latham & Watkins represented the joint lead managers in the State of Qatar’s recent sovereign Sukuk. The US$4 billion offering, which was more than six times oversubscribed, included a record low profit rate of 2.1% for a five-year tranche and 3.24% for a 10-year tranche. The sale is also the largest US dollar-denominated Sukuk issuance to date (more…)
Global law firm White & Case LLP has advised the International Finance Corporation (IFC) as Lead Transaction Advisor and the General Authority of Civil Aviation (GACA) as Grantor on the US$1.2 billion financing of a landmark transport infrastructure deal—the first public-private partnership (PPP) for an airport in the GCC region (more…)
