Norton Rose advises Majid Al Futtaim Group on its MTN and Sukuk programmes
- United Arab Emirates: Tuesday, May 29 - 2012 at 13:51
- PRESS RELEASE
International legal practice Norton Rose Group has advised the Majid Al Futtaim Group on the simultaneous update of its $2bn Global Medium Term Note Programme (the GMTN Programme) and its $1bn Trust Certificate Issuance Programme (the Sukuk Programme).
Alex Roussos, of counsel, commented: "We are delighted to have acted for such an important client of our legal practice, the Majid Al Futtaim Group, on their conventional debt and Islamic financing programmes. Their debt raising initiative has been a real success story for capital markets in the region and we are proud to have been part of that process."
Mohammed Paracha commented: "We have seen a tremendous level of growth in Islamic Finance transactions this year out of which Sukuk has played a significant part. The Islamic Finance (and conventional) platform offered by Norton Rose Group continues to grow and cater for existing clients, such as the Majid Al Futtaim Group, as well as new clients entering the market for the first time. We are pleased to be considered by our valued clients to support them in their businesses."
The Norton Rose (Middle East) LLP team was led by capital markets of counsel Alex Roussos, assisted by Mohammed Paracha, partner and Head of Islamic finance for the Middle East and Africa, Farmida Bi, partner and Head of Islamic finance for Europe in London and associate Faris Al Amoudi in Dubai.
Norton Rose (Middle East) LLP has over 30 years experience advising on all areas of Islamic finance transactions. We continue to be at the forefront of ground breaking deals and are consistently named as leaders in Islamic finance. Norton Rose (Middle East) LLP frequently acts for large financial institutions and high profile corporates in the capital markets sector in the Middle East, this being the latest in a string of high profile instructions.
Clifford Chance LLP advised the Arrangers on both programmes and Maples and Calder provided Cayman Island law advice and acted as corporate services provider to the special purpose vehicle established under each programme.
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