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Monday, November 9 - 2009

Clifford Chance advises Jebel Ali Free Zone FZE on Dhs7.5bn sukuk

  • United Arab Emirates: Wednesday, November 28 - 2007 at 16:10
  • PRESS RELEASE

The Dubai office of Clifford Chance have advised Jebel Ali Free Zone Authority and Jebel Ali Free Zone FZE on a Dhs7.5bn Reg S sukuk for Jebel Ali Free Zone FZE.

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The sukuk sets the record for largest dirham denominated sukuk issued in the history of the UAE.

Simultaneously, Clifford Chance advised on the establishment of a $2bn MTN programme for Jebel Ali Free Zone FZE.

Debashis Dey comments: "We have been working with JAFZ FZE and JAFZA for some time in their restructuring as well as their fundraising efforts. The successful debut of their Dhs denominated sukuk and the tremendous market interest in the issue confirms that JAFZ will be an on-going success story and one we are delighted to be part of."

The Dubai team comprised Debashis Dey (Partner), Qudeer Latif , Daniel Holder, Bilal Ahmad and Amar Meher and Gillian Rooney. Lewis Cohen (Partner) and Alice Nam from the firm's New York office advised on the 144A aspects of the MTN programme.
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Notes and media contacts

1. Clifford Chance's 63-lawyer Dubai office is fully integrated into the firm's worldwide network of offices and has a market leading finance practice in the Middle East. The firm celebrated its 30th anniversary in the United Arab Emirates in 2005, having opened its first office in the region in Sharjah in 1975. The firm recently won 'Middle East Law Firm of the Year' at the 2007 IFLR Middle East Awards.
2. The capital markets practice comprises over 422 partners and lawyers who concentrate on securities transactions and other products sold into the capital markets. The practice is founded on a full-service US and UK securities law capability, complemented by local securities law expertise in each of the key financial centres.
The combination of local knowledge with an international perspective enables us to provide practical, integrated legal advice covering the full spectrum of global capital raising activities including public and private domestic and international offerings of traditional debt and equity securities as well as convertible and other derivative and structured securities.
Consistently ranked as the 'best legal practice for securitisation' by key commentators, the Clifford Chance International Securitisation Group is at the forefront of the securitisation markets across the world. The Group advises most of the leading market participants and provides an in-depth knowledge of complex issues relating to the securitisation of a broad spectrum of assets.
Our clients include issuers, originators, arrangers, managers, investors and other finance providers, trustees, rating agencies, monoline insurers and swap counterparties from a variety off industries including energy, transport, infrastructure projects, and real estate.
3. Clifford Chance is one of the world's leading law firms, helping clients achieve their goals by combining the highest global standards with local expertise. The firm has unrivalled scale and depth of legal resources across the three key markets of the Americas, Asia and Europe and focuses on the core areas of commercial activity: capital markets; corporate and M&A; finance and banking; real estate; tax; pensions and employment; litigation and dispute resolution. Clifford Chance has 27 offices in 20 countries and 3,800 legal advisers.
For further information about Clifford Chance see www.cliffordchance.com For further information about this release contact Melanie Carruthers on +971 4 362 0623 or Debashis Dey on +971 4 362 0624

For further information about Clifford Chance please see our website at http://www.cliffordchance.com or refer
to any Clifford Chance office.

Clifford Chance LLP is a limited liability partnership registered in England & Wales under number OC323571. The firm's registered office and principal place of business is at 10 Upper Bank Street, London, E14 5JJ. For further details, including a list of members and their professional qualifications, see our website at www.cliffordchance.com. The firm uses the word 'partner' to refer to a member of Clifford Chance LLP or an employee or consultant with equivalent standing and qualifications. The firm is regulated by the Solicitors Regulation Authority.

The Authority's rules can be accessed by clicking on the following link: http://www.sra.org.uk/code-of-conduct.page

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