Clifford Chance has advised international energy services group Serba Dinamik Holdings Berhad (Serba Dinamik) on the international aspects of its US$300 million high yield sukuk offering, due 2022.
The offering was issued by SD International Sukuk Limited (with trust obligations guaranteed by Serba Dinamik) and is listed on the Singapore Stock Exchange and the Labuan International Financial Exchange.
The transaction combines a high yield covenant package and credit structure with a wakalah-bil-istithmar sukuk and represents the first US dollar high yield sukuk offering in Asia Pacific.
The Clifford Chance team was led by Partner Gareth Deiner (Picture) with Global Head of Islamic Finance Qudeer Latif and partner Johannes Juette. They were supported by a cross-border team in Singapore and Dubai consisting of senior associates Ahmed Choudhry and Ying Chiang Chong, and associate Stephanie Liman. Zaid Ibrahim & Co. acted as Malaysian counsel for Serba Dinamik.
Involved fees earner: Ying Chiang Chong – Clifford Chance; Ahmed Choudhry – Clifford Chance; Gareth Deiner – Clifford Chance; Johannes Juette – Clifford Chance; Qudeer Latif – Clifford Chance; Stephanie Liman – Clifford Chance;
Law Firms: Clifford Chance;
Clients: Serba Dinamik Holdings Berhad;