Practice Areas - Debt Capital Markets Law Firms and Lawyers
| Deal Date: | 08-12-2014 | Practice Area: | Debt Capital Markets |
| Deal Title: | International Finance for Immunisation Company Sukuk Issuance | Industry: | Public Sector |
| Description: |
Slaughter and May advised International Finance for Immunisation Company (IFFIm) on the issuance by IFFIm Sukuk Company Limited of IFFIm's inaugural Sukuk, raising USD500,000,000 for children's immunisation in the world's poorest countries through Gavi, the Vaccine Alliance. This transaction is the largest Sukuk al-Murabaha issuance in the public markets and is the largest inaugural Sukuk offering by a supranational.
The 3-year Sukuk - a financial certificate that complies with Islamic law - provides institutional investors with a socially responsible investment that will help protect tens of millions of children against preventable diseases. The issue, maturing on 4 December 2017, has an issue price of 100% and carries a quarterly coupon of +15 basis points over 3-month USD LIBOR.
The Sukuk was coordinated by Standard Chartered Bank, working with joint lead managers Barwa Bank, CIMB, National Bank of Abu Dhabi (NBAD) and NCB Capital Company (NCB Capital).
Financing: Marc Hutchinson (partner), Mark Dwyer (partner), Andrew Chaplin (associate); Tax: William Watson (partner), Greg Price (associate).
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| Financial Center: | London | Value: | 100.01-500.00 |
| Advised Party: | Issuer | Law Firm | Slaughter and May |
| Issuer Jurisdiction | UAE | Listing Jurisdiction | UAE |
| Classification: |
Islamic Finance Islamic Finance Bonds and Sukuk Murabaha: |
Lawyer | Marc Hutchinson |
