The sukuk certificates have been issued by Almana Sukuk Limited, a wholly owned Cayman Islands special purpose vehicle.
On redemption, the sukuk certificates will be redeemed in full by cash payment.
Almana is a large Qatar based group of companies providing services in a wide number of industry sectors including the automotive, contracting, international trade and investment, real estate, commercial interior decoration and furnishing, manufacturing and information technology sectors.
The debut issuance of sukuk certificates mature in 2013. Debashis Dey comments: "This is the first significant sukuk issue out of Qatar in 2008 and we were pleased to be part of that issuance".
Gulf International Bank is the Mandated Lead Manager and Sole Bookrunner.
The Clifford Chance team advised Almana as to English law and the Shari'a legal structure and comprised Debashis Dey, Qudeer Latif, Ursula Gil, Amar Meher, Bilal Ahmad, Jana Salloum and Lee Irvine.
The Dubai office of Lovells acted for the Lead Manager.
Eversheds in Doha acted for Almana as to the laws of Qatar, while Maples & Calder provided advice as to the laws of the Cayman Islands.
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Clifford Chance advises Almana Group W.L.L. on the issue of Dhs600m sukuk certificates
- United Arab Emirates: Saturday, May 17 - 2008 at 12:06
- PRESS RELEASE
The Dubai office of Clifford Chance LLP advised the Qatar based Almana Group W.L.L. ("Almana") on the issue of Dhs600m sukuk certificates listed on the Dubai International Financial Exchange.
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Posted by Eman HassanSaturday, May 17 - 2008 at 12:06 UAE local time (GMT+4)
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This article was updated on Sun May 18 2008.
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