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Recognition

December 5, 2018

King & Spalding Deal Picks up Local Currency Bond/Sukuk Deal of the Year Award at Bonds, Loans and Sukuk Awards 2018


DUBAI, Dec. 5, 2018 – A deal on which King & Spalding advised was awarded the “Local Currency Deal of the Year” at the  Bonds, Loans and Sukuk Awards ceremony held in Dubai in November.  

King & Spalding advised Albilad Capital as Arranger and Initial Dealer in connection with i) the establishment by Morabaha Marina Financing Company, a leading Saudi Arabian-based retail finance provider of a SAR400,000,000 Sukuk Programme, and ii) the initial issuance of Fixed Rate Amortising Sukuk thereunder.

The transaction was based on an innovative hybrid structure. It is also one of the first such asset-backed Sukuk transactions used by a consumer and retail finance provider in Saudi Arabia to tap the capital markets.

The King & Spalding team was led by partner Rizwan. H Kanji (Dubai), with assistance from senior associate Hamed Afzal (Dubai) and senior counsel Mohammed AlAmmar (Riyadh).

About King & Spalding
Celebrating more than 130 years of service, King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 1,000 lawyers in 20 offices in the United States, Europe, the Middle East and Asia. The firm has handled matters in over 160 countries on six continents and is consistently recognized for the results it obtains, uncompromising commitment to quality, and dedication to understanding the business and culture of its clients. More information is available at www.kslaw.com.