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Al-Jadaan & Partners Law Firm, in conjunction with the Dubai office of Clifford Chance LLP, have advised the Saudi Arabian General Authority of Civil Aviation ("GACA") in relation to the issuance in the Kingdom of Saudi Arabia of a SAR 15 billion (approximately US$ 4 billion) sukuk due 2022 (the "Sukuk").
The Sukuk has the benefit of a guarantee given by the Ministry of Finance of the Kingdom of Saudi Arabia. The Sukuk is comprised of a hybrid Investment and Murabaha structure and represents the first sukuk issuance by a Government entity with the benefit of an express guarantee from the Ministry of Finance of the Kingdom of Saudi Arabia.
The Al-Jadaan & Partners team was lead by partner Mohammed Al-Jadaan, supported by Ose Asemota and Fahad Abuhimed in Riyadh. The Clifford Chance team was led by partner Matthew Cahill, supported by Mark Dickinson and Abdullah Al-Mosa* in Dubai. HSBC Saudi Arabia Limited was the Lead Manager on the transaction.
* Abdullah Al-Mosa has been seconded to Clifford Chance from Al-Jadaan & Partners Law Firm. |