Practice Areas - Debt Capital Markets Law Firms and Lawyers
| Deal Date: | 08-09-2015 | Practice Area: | Debt Capital Markets |
| Deal Title: | Abdullah Al Othaim Real Estate Debut Sukuk Issuance | Industry: | Real Estate Investment & Services |
| Description: |
Clifford Chance advised Abdullah Al Othaim Real Estate Investment and Development Company on its debut sukuk issuance. The sukuk was issued with a face value of SAR1 billion, with a floating profit rate linked to SAIBOR and a maturity of five years. The payment obligations of OREIDCO in respect of the sukuk were secured against one of the company's shopping malls, using an innovative security structure. GIB Capital L.L.C., Saudi Fransi Capital Limited and NCB Capital Company acted as the Lead Managers and Bookrunners for the transaction, and Saudi Fransi Capital Limited acted in separate capacities as the Payment Administrator and Sukukholders' Agent.
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| Financial Center: | Dubai | Value: | 100.01-500.00 |
| Advised Party: | Issuer | Law Firm | Clifford Chance |
| Issuer Jurisdiction | Saudi Arabia | Listing Jurisdiction | UAE |
| Classification: |
Islamic Finance Islamic Finance Bonds and Sukuk |
Lawyer | Stuart Ure |
