Kingdom of Saudi Arabia’s $2 billion Trust Certificates Offering

White & Case LLP has advised a group of banks on the updates of the Kingdom of Saudi Arabia’s 144A/Reg S Global Medium Term Note Programme and Trust Certificate Issuance Programme, and on the issuance of US$2 billion Trust Certificates due 2029 under the latter.

The transactions represent the first Sukuk issued in the international capital markets by the Kingdom of Saudi Arabia this year. Citigroup, HSBC and JP Morgan acted as joint global coordinators, joint lead managers and joint bookrunners, and BNP Paribas, Mizuho International and Samba Capital acted as joint lead managers and joint bookrunners.

White & Case, together with its associated firm in Riyadh, The Law Firm of AlSalloum and AlToaimi, advised on the Sukuk offering with a team led by partners Ian Clark (Picture) and Debashis Dey (Dubai & London), with support from association partner Zeyad Al-Salloum (Riyadh) and associates Sankalp Labroo (Dubai), Michael Byrd and Adrien Dumoulin-Smith (both London).

 

Involved fees earner: Ian Clark – White & Case; Debashis Dey – White & Case; Zeyad AlSalloum – White & Case; Sankalp Labroo – White & Case; Michael Byrd – White & Case; Adrien Dumoulin-Smith – White & Case;

Law Firms: White & Case;

Clients: BNP Paribas; Citigroup Inc.; HSBC; JP Morgan; Mizuho; Samba Capital;