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Deal Date: 02-07-2012 Practice Area: Debt Capital Markets
Deal Title: Islamic Development Bank - Update to Sukuk Programme Industry: Banks
International legal practice Norton Rose Group has advised the Islamic Development Bank (IsDB) on the update of its US$6.5 billion Sukuk programme. A team from Dubai and London advised on updating the Trust Certificate Issuance Programme and a first drawdown under the updated programme. This included an issuance of US$800 million 1.357 per cent Trust Certificates due in 2019. The Programme was arranged by HSBC Bank plc; the Joint Lead Managers were Barwa Bank P.Q.S.C., BNP Paribas, CIMB Bank (L) Limited, NCB Capital Company and Standard Chartered Bank. Al Hilal Bank PJSC was the Co-Lead Manager in respect of the Certificates. The Norton Rose Group team was led by partner Mohammed Paracha with capital markets of counsel Alex Roussos, assisted by associate Faris Al Amoudi in Dubai. Farmida Bi, partner and Head of Islamic finance for Europe in London provided additional support.
Financial Center: Dubai Value: 500.01-1000.00
Advised Party: Issuer Law Firm
Issuer Jurisdiction UAE Listing Jurisdiction UAE
Classification: Islamic Finance Islamic Finance Bonds and Sukuk Murabaha:
Lawyer Mohammed Paracha