Dubai Islamic Bank issues debut sukuk
Allen & Overy has advised Barclays Bank PLC, Citigroup Global Markets Limited and Standard Chartered Bank as joint lead managers in connection with the USD 750 million debut Islamic sukuk issue by Dubai Islamic Bank, the world's oldest Islamic bank. The sukuk was issued through a special purpose vehicle established in the Cayman Islands, DIB Sukuk Company Limited. It is the first sukuk to be listed on both the Dubai International Financial Exchange (DIFX) and the London Stock Exchange.
Senior associate Anzal Mohammed commented : "Over the last six months we have seen a number of Islamic banks in the UAE access the international capital markets through the issuance of sukuk. During the rest of this year and beyond, we expect to see a number of issuers (both banks and corporates) in the Gulf region following suit as sukuk issuance continues to rise dramatically. As a firm, we are privileged to be part of the rapidly expanding sukuk market, particularly as the need for structural innovation requires the all round expertise of a firm like Allen & Overy." The Allen & Overy team was led by partner Roger Wedderburn-Day, assisted by associates Anzal Mohammed and Jennifer Klein. Partner Morgan Krone, assisted by associates Joanne Goodsir and Rufus Southwood, advised Citigroup Trustee Company Limited as the delegate. Dubai Islamic Bank was advised by Denton Wilde Sapte and the issuer was advised by Maples & Calder.
Senior associate Anzal Mohammed commented : "Over the last six months we have seen a number of Islamic banks in the UAE access the international capital markets through the issuance of sukuk. During the rest of this year and beyond, we expect to see a number of issuers (both banks and corporates) in the Gulf region following suit as sukuk issuance continues to rise dramatically. As a firm, we are privileged to be part of the rapidly expanding sukuk market, particularly as the need for structural innovation requires the all round expertise of a firm like Allen & Overy." The Allen & Overy team was led by partner Roger Wedderburn-Day, assisted by associates Anzal Mohammed and Jennifer Klein. Partner Morgan Krone, assisted by associates Joanne Goodsir and Rufus Southwood, advised Citigroup Trustee Company Limited as the delegate. Dubai Islamic Bank was advised by Denton Wilde Sapte and the issuer was advised by Maples & Calder.
No comments:
Post a Comment