Hamed Afzal

Senior Associate

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Hamed Afzal is a senior associate based in King & Spalding’s Dubai office.

Mr. Afzal specialises in debt and equity capital markets and structured finance transactions (both conventional and Shari’ah-compliant). Prior to joining King & Spalding, Mr. Afzal spent 8 years working in leading international law firms based primarily in London. He has also completed a secondment to the Agency and Trust division of Citibank in London where he worked on restructurings, defaults and general post-closing related issues relating to a wide range of debt capital markets and structured finance transactions.

Mr. Afzal was ranked as a “Next Generation Lawyer” for Debt Capital Markets by Legal 500 (2017).    

Representative Experience

Mr. Afzal’s representative experience includes advising:

Debt Capital Markets

  • Emirates NBD PJSC, MUFG Securities Limited and Rand Merchant Bank (a division of FirstRand Bank Limited) on a debut US$150,000,000 Sukuk issuance by the Africa Finance Corporation, the first ever sukuk issuance by an African supranational entity;
  • Barwa Bank Q.S.C., a Qatari Islamic financial institution, on the update of its US$2 billion Sukuk programme, listed on the Irish Stock Exchange;
  • Islamic Development Bank in connection with the establishment of its US$25 billion Sukuk programme which was triple listed on the London Stock Exchange, Nasdaq-Dubai and Bursa Malaysia and was, on completion, the largest Sukuk programme ever established by value;

  • Kuveyt Turk Katilim Bankasi A.S., a Turkish participation bank, on the issuance of its US$350 million Subordinated Resettable Tier 2 Certificates due 2026 and its US$500,000,000 5.136 per cent. Certificates due 2021;

  • Emirates NBD PJSC as the sole lead manager in Damac Real Estate Development's issuance of US$125 million privately placed Trust Certificates due 2018;

  • Nokia Corporation in respect of its issuance of convertible bonds in the principal amount of €1.5 billion (in the form of three €500 million tranches) to Microsoft Corporation in connection with the sale of substantially all of Nokia’s Devices & Services business to Microsoft;

  • HellermannTyton group (a portfolio company of Doughty Hanson & Co. (United Kingdom)), in connection with its €220 million high yield bond issuance;

  • J.P. Morgan Securities PLC as the sole bookrunner and manager in connection with a €1,000,000,000 issuance of hybrid bonds by Deutsche Annington, Germany’s largest private-sector residential real estate company. The transaction was the first investment-grade rated hybrid bond issued in the European real-estate sector;

  • The Arab Republic of Egypt in connection with the establishment of its US$12 billion EMTN Programme and its drawdowns of US$2.7 billion 4.250 per cent. Notes due 2014 and US$1 billion 3.5 per cent. Notes due 2016 under the Programme;

  • The Republic of Indonesia on its US$1 billion Sukuk issuance, which was structured as a Sukuk al Ijara (sale and lease back structure);

  • International Innovative Technologies Limited (IIT) on the UK’s first ever corporate Sukuk which raised financing for IIT, a technology development company based in the North East of England, using the Musharaka (joint venture) Sukuk structure;

  • Barclays, Citigroup, ING and RBS as lead managers and bookrunners  in respect of a bond issuance by VimpelCom Holdings B.V. with an approximate value (US dollar equivalent) of US$2,000,000,000; and

  • Citigroup, J.P. Morgan and Troika Dialog as joint lead managers in respect of the US$600 million 7.40% Notes due 2017 issued by Evraz Group S.A.

Equity Capital Markets

  • A leading Abu Dhabi based conglomerate in connection with its proposed pre-IPO reorganisation and potential listing on a European stock exchange;

  • First Gulf Bank P.J.S.C. as selling shareholder in connection with the US IPO of Athene Holding Ltd., one of the largest IPOs by value in the United States in 2016;

  • A leading GCC based investor in respect of its commitment arrangements to subscribe for certain of its rights in connection with the rights issue of Dubai Parks and Resorts P.J.S.C.;

  • Mota-Engil S.G.P.S., S.A., a leading international engineering and construction company, in connection with its proposed IPO and listing of the subsidiary through which it carries out its operations in Africa; 

  • HellermannTyton group (a portfolio company of Doughty Hanson & Co. (United Kingdom)), in connection with its initial public offering and premium listing on the London Stock Exchange; and

  • Citigroup, Investec and Barclays as joint bookrunners in respect of a £375 million rights issue by William Hill PLC.
ADMISSIONS
England and Wales