Latham and Watkins advises on innovative Sipchem Mudaraba Sukuk
- Saudi Arabia: Thursday, July 07 - 2011 at 15:10
- PRESS RELEASE
Latham & Watkins advised Deutsche Securities Saudi Arabia LLC and Riyad Capital as Joint Lead Managers and Joint Bookrunners in the issuance of a SR1,800,000,000 Mudaraba Sukuk by Saudi International Petrochemical Company's 'Sipchem'.
The deal involved an innovative Mudaraba Sukuk structure that centers around the intangible rights that sit between a holding company and its subsidiaries. "This SIPCHEM Sukuk structure further reflects the increasing sophistication of the available products in the Saudi Arabian market. This product is a great addition to the tool kit available to corporate treasurers in the market" commented Dipti Thakar of Latham & Watkins.
The transaction team was led from the firm's Riyadh and Dubai offices by Riyadh Office Managing Partner, Mohammed Al-Sheikh, partner Craig Nethercott, counsel Dipti Thakar and associate Harj Rai.
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / 4C. AME Info FZ LLC / 4C is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.