Saudi Electricity Company’s $44.78 Billion Shariah Compliant Financing

Baker & McKenzie has acted as legal counsel to the Ministry of Finance of The Kingdom of Saudi Arabia.

The Ministry of Finance of The Kingdom of Saudi Arabia signed a landmark agreement with Saudi Electricity Company (SEC) in relation to a SAR 167.92 billion (US$ 44.78 billion) perpetual subordinated instrument.

Saudi Electricity Company (SEC) generates and distributes electricity. The company operates throughout Saudi Arabia.

The Baker & McKenzie team was led by Ian Siddell (Picture), Nick Church and Delwar Hossain, supported by Robert Eastwood, Mohammed AlAmer and Marwa Abdulmalik.

Involved fees earner: Marwa Abdulmalik – Baker McKenzie; Mohammed Al Amer – Baker McKenzie; Nick Church – Baker McKenzie; Robert Eastwood – Baker McKenzie; Delwar Hossain – Baker McKenzie; Ian Siddell – Baker McKenzie;

Law Firms: Baker McKenzie;

Clients: Ministry of Finance of The Kingdom of Saudi Arabia;

Author: Michael Patrini.