Practice Areas - Debt Capital Markets Law Firms and Lawyers
| Deal Date: | 14-01-2013 | Practice Area: | Debt Capital Markets |
| Deal Title: | Nakheel PJSC Sukuk Tap Certificates | Industry: | Real Estate Investment & Services |
| Description: |
Clifford Chance has advised Nakheel PJSC in relation to its issuance of AED120.9 million, 10% tap certificates due 2016 to its trade creditors under its AED8.5 billion sukuk programme. This latest issuance brings the total amount issued by Nakheel to its trade creditors to AED4.148 billion, and further underpins Nakheel's commitment towards successfully implementing its revised business plan and the settlement of trade creditor claims.
The issuance of the tap certificates settled on 7 January 2013. The tap certificates form part of and are fungible with the two pre-existing tranches of: (i) AED3.8 billion certificates issued by Nakheel to trade creditors on 25 August 2011; and (ii) the first tap issuance of AED227.4 million certificates issued by Nakheel to trade creditors on 25 April 2012.
The tap certificates represent only the second fungible tap issuance of any previously issued sukuk by an issuer in the United Arab Emirates to date.
The Clifford Chance team was led by Capital Markets Partner, Debashis Dey, who was assisted by associates Mark Dickinson and Brian O'Leary.
|
||
| Financial Center: | Dubai | Value: | 100.01-500.00 |
| Advised Party: | Issuer | Law Firm | Clifford Chance |
| Issuer Jurisdiction | UAE | Listing Jurisdiction | UAE,Poland |
| Classification: |
Islamic Finance Islamic Finance Bonds and Sukuk |
Lawyer | Debashis Dey |
