Baker & McKenzie Acts for Saudi Binladin Group on SAR1 Billion Sukuk
Deal Announcement
17 September 2012
Bahrain, 17 September 2012 – Baker & McKenzie recently acted for the Saudi Binladin Group in relation to a SAR 1 billion (US$267 million) short term sukuk al murabaha issued by SBG Sukuk Limited as an exempt offering in the Kingdom of Saudi Arabia.
The Baker & McKenzie team was led by Partner Bilal Kahlon, who commented:
“Having assisted the Saudi Binladin Group on all of their previous sukuk transactions since 2008, we are very pleased, once again, to have assisted the Saudi Binladin Group on this important transaction. The strong response the offering received from the Saudi market is a testament to the strength of the Saudi Binladin Group.”
Bilal Kahlon was supported by Partner Dr. Nasser Al Faraj and Associates Mohamed Hassan and Nezar Al Abbas.
HSBC Saudi Arabia was appointed as sole Lead Manager in relation to the transaction and was represented by Clifford Chance. Walkers acted as legal adviser to SBG Sukuk Limited in relation to the laws of the British Virgin Islands.