Allen & Overy (A&O) and Latham & Watkins have taken the lead roles on a landmark $2bn (£1.3bn) Islamic bond for the Saudi Electricity Company. The deal, reportedly the Middle East's largest Rule 144A sukuk to date, comprises both a 10-year and 30-year maturity term – the latter being the longest duration for any senior unsecured sukuk to date. A&O acted for the utilities company, a longstanding client of the firm, with a London-based team led by banking partner Atif Hanif and capital markets partners Sachin Dave and Jamie Durham.
April 18, 2013 at 07:00 PM
1 minute read
The original version of this story was published on Legalweek
Allen & Overy (A&O) and Latham & Watkins have taken the lead roles on a landmark $2bn (£1.3bn) Islamic bond for the Saudi Electricity Company.
The deal, reportedly the Middle East’s largest Rule 144A sukuk to date, comprises both a 10-year and 30-year maturity term – the latter being the longest duration for any senior unsecured sukuk to date.
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