People

Hamed Afzal is a senior associate based in King & Spalding’s Dubai office. Mr. Afzal advises clients on the full spectrum of capital markets (spanning both debt and equity capital markets) and corporate finance transactions.

On the debt side, he advises corporates, sovereigns, leading financial institutions and corporate trustees on conventional and Shariah compliant debt capital markets and structured finance transactions, across product lines and geographies. On the equity side, he advises corporates and leading global investment banks on initial public offerings, secondary offerings, listings and other equity capital markets related transactions across numerous regional and international listing venues. He also has extensive experience advising on public company related matters (including public M&A), corporate governance matters and securities laws in various jurisdictions. Prior to joining King & Spalding, Mr. Afzal spent 8 years working in leading international law firms based primarily in London, and has spent time on secondment at Citibank in London, working on a wide range of structured debt capital markets transactions.

Full Bio

Ranked as a “Rising Star” for both Capital Markets and Islamic Finance


IFLR 1000, 2018

Ranked as a “Next Generation Lawyer” for Debt Capital Markets


Legal 500, 2017

Matters

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.

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Matters

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.

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.

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

Public M&A / public company advisory

BUPA Arabia for Cooperative Insurance Company in relation to its obligations as a Saudi listed company, in connection with the sale of a significant stake in the company to a third party investor.

Representation of a major European reinsurance company as selling shareholder in the proposed sale by it of a significant stake in a Saudi listed company.

XL Group plc in its US$4.2 billion acquisition of Catlin Group Limited (listed on the London Stock Exchange).

Nokia Corporation in the US$7.1 billion sale of its devices and services business to Microsoft Corporation.

Insights

Client Alert

May 3, 2017
RISK: To Retain or Not Retain in Sukuk?

Article · Source: Islamic Finance News

April 5, 2017
Islamic Finance News (April Edition: Volume 14 Issue 14)

Article · Source: Lexis Middle East Law Alert

March 28, 2017
On Parallel Lines

View all

Matters

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.

See more
Icon close

Close

Matters

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.

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.

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

Public M&A / public company advisory

BUPA Arabia for Cooperative Insurance Company in relation to its obligations as a Saudi listed company, in connection with the sale of a significant stake in the company to a third party investor.

Representation of a major European reinsurance company as selling shareholder in the proposed sale by it of a significant stake in a Saudi listed company.

XL Group plc in its US$4.2 billion acquisition of Catlin Group Limited (listed on the London Stock Exchange).

Nokia Corporation in the US$7.1 billion sale of its devices and services business to Microsoft Corporation.

Insights

Client Alert

May 3, 2017
RISK: To Retain or Not Retain in Sukuk?

Article · Source: Islamic Finance News

April 5, 2017
Islamic Finance News (April Edition: Volume 14 Issue 14)

Article · Source: Lexis Middle East Law Alert

March 28, 2017
On Parallel Lines

View all

Ranked as a “Rising Star” for both Capital Markets and Islamic Finance


IFLR 1000, 2018

Ranked as a “Next Generation Lawyer” for Debt Capital Markets


Legal 500, 2017