Clifford Chance advises on sukuk with record number of investors for private placement in Saudi Arabia
- Saudi Arabia: Thursday, July 28 - 2011 at 10:23
- PRESS RELEASE
Clifford Chance and Al Jadaan & Partners have advised HSBC Saudi Arabia Limited on the issuance by Saudi Binladin Group (SBG) of its second short term sukuk, attracting more than SR3bn of orders for a SR1bn issuance. The sukuk-al-murabaha was issued by SBG Sukuk Limited and guaranteed by SBG.
HSBC Saudi Arabia acted as Lead Manager and Bookrunner, Payment Administrator and Sukukholders' Agent for the transaction while HSBC Amanah acted as Shariah Advisor. The Saudi British Bank (SABB) acted as the Security Agent.
The Al Jadaan team was led by Mohammed Al Jadaan, supported by senior legal advisor Ose Asemota and legal advisor Dr Fahad Abuhimed. The Clifford Chance team was led by Debashis Dey and supported by counsel Stuart Ure, associates Beene Ndulo and Lauren Djedid and trainee Carla Lewis.
Debashis Dey comments, "The second very successful issue by SBG demonstrates the success of the short-term sukuk structure advised on by HSBC. There is a clear product need amongst the money market investors in KSA."
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.