Practice Areas - Debt Capital Markets Law Firms and Lawyers
| Deal Date: | 21-11-2014 | Practice Area: | Debt Capital Markets |
| Deal Title: | Drake and Scull International Murabaha Sukuk Issuance | Industry: | Construction & Materials |
| Description: |
Simmons and Simmons advised Drake and Scull International on the issuance of a USD120 million unrated senior unsecured five-year Sukuk by way of private placement.
The issuance represents the first Sukuk to utilise as its underlying assets certificates issued through the new NASDAQ Dubai Murabaha Platform. The Sukuk will be due on 12 November 2019 and redeemed fully at maturity.
Dubai based partner Muneer Khan, who heads the international Islamic finance practice at Simmons and Simmons, led on Islamic finance aspects. Abu Dhabi based partner Haitham Hawashin and London based partner Piers Summerfield provided debt capital markets support. The team also included Islamic finance specialist Ahmed Butt and associates Samir Safar-Aly, Leon Yap and Noor Heialy.
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| Financial Center: | Dubai | Value: | 100.01-500.00 |
| Advised Party: | Issuer | Law Firm | Simmons & Simmons |
| Issuer Jurisdiction | UAE | Listing Jurisdiction | UAE |
| Classification: |
Islamic Finance Islamic Finance Bonds and Sukuk Murabaha: |
Lawyer | Muneer Khan |
