Dentons advised Islamic Development Bank on Sukuk issuance
Dentons advised Islamic Development Bank on Sukuk issuance
The transaction was completed successfully and carried out through a special-purpose vehicle issuer incorporated in Luxembourg.
The largest multinational law firm in the world, Dentons has advised the Islamic Development Bank (IsDB) on the issuance of US$2 billion trust certificates under the US$25 billion trust certificate programme.
Dentons has regularly advised IsDB on the issuance of debt securities in the international capital markets under its Sukuk programme. (Sukuk is the Arabic name for financial certificates, commonly referred to as ‘sharia compliant’ bonds).
The issuance was listed on Euronext Dublin and NASDAQ Dubai. It was offered to prominent investors outside the US in reliance on Regulation S under the US Securities Act, 1933. A number of major international and regional banks acted as lead managers on the issuance.
The Dentons team in Dubai was led by partner Alex Roussos, with assistance from senior associate Sana Siddiqui and paralegal Fatma Rajab. The Luxembourg team was led by partners Stéphane Hadet and Jean-Luc Fisch, with assistance from counsel Olivier Lesage.
