24 July 2016
Clifford Chance's Dubai office has advised Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC on the tap issuance by MAF Global Securities Limited of US$300 million 4.75% per annum notes due 2024 (consolidated and forming a single series with the US$500 million 4.75% notes due 2024 issued on 7 May 2014). The notes were issued under the MAF Global Securities Limited US$3 billion global medium term note programme guaranteed by Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC. This successful transaction represents the first capital markets transaction from the region of the second half of the year.
Clifford Chance partner Stuart Ure commented: "We are delighted to have partnered with Majid Al Futtaim once more and the successful tap reflects the strong investor demand for the credit and the liquidity of the securities, together with the benefits in having a year-round funding platform, allowing for timely execution to access optimal funding windows."
Clifford Chance also advised Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC on the update of the programme in May 2016.
The Clifford Chance team was led by Stuart Ure, with the support of senior associate Rafe Khokhar and associate Julian Walley.
Norton Rose Fulbright (Middle East) LLP acted as legal advisor to the joint lead managers, consisting of Barclays Bank PLC, Citigroup Global Markets Limited, Emirates NBD PJSC, HSBC Bank plc and Standard Chartered Bank.
-Ends-
About
Clifford Chance is one of the world's pre-eminent law firms with significant depth and range of resources across five continents. As a single, fully integrated, global partnership, we pride ourselves on our approachable, collegiate and team based way of working. We always strive to exceed the expectations of our clients, which include corporates from all the commercial and industrial sectors, governments, regulators, trade bodies and not for profit organisations. We provide them with the highest quality advice and legal insight, which combines the firm's global standards with in-depth local expertise.
Clifford Chance was ranked 'Band 1' in more cross-border tables than any other firm in the Chambers Global 2016 Directory. This independent analysis focuses on firms' legal ability, professional conduct, client service, and commercial awareness, and these rankings provide outstanding recognition for the firm's breadth of expertise and consistency of quality across global markets.
Mathieu Ritte
Business Development & Marketing Manager, Middle East
Clifford Chance LLP
Level 15
Burj Daman
Dubai International Financial Centre
PO Box 9380
Dubai, United Arab Emirates
Direct line: +971 4 503 2668
Mobile: +971 56 683 3419
mathieu.ritte@cliffordchance.com
Registered with the DFSA
For further information about Clifford Chance see www.cliffordchance.com
For further information about this release contact Mathieu Ritte, BD & Marketing Manager, Middle East, Clifford Chance, on +971 4 503 2668.
For the latest news and legal updates, follow the Clifford Chance Middle East page on LinkedIn.
Clifford Chance's Dubai office has advised Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC on the tap issuance by MAF Global Securities Limited of US$300 million 4.75% per annum notes due 2024 (consolidated and forming a single series with the US$500 million 4.75% notes due 2024 issued on 7 May 2014). The notes were issued under the MAF Global Securities Limited US$3 billion global medium term note programme guaranteed by Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC. This successful transaction represents the first capital markets transaction from the region of the second half of the year.
Clifford Chance partner Stuart Ure commented: "We are delighted to have partnered with Majid Al Futtaim once more and the successful tap reflects the strong investor demand for the credit and the liquidity of the securities, together with the benefits in having a year-round funding platform, allowing for timely execution to access optimal funding windows."
Clifford Chance also advised Majid Al Futtaim Holding LLC and Majid Al Futtaim Properties LLC on the update of the programme in May 2016.
The Clifford Chance team was led by Stuart Ure, with the support of senior associate Rafe Khokhar and associate Julian Walley.
Norton Rose Fulbright (Middle East) LLP acted as legal advisor to the joint lead managers, consisting of Barclays Bank PLC, Citigroup Global Markets Limited, Emirates NBD PJSC, HSBC Bank plc and Standard Chartered Bank.
-Ends-
About
Clifford Chance is one of the world's pre-eminent law firms with significant depth and range of resources across five continents. As a single, fully integrated, global partnership, we pride ourselves on our approachable, collegiate and team based way of working. We always strive to exceed the expectations of our clients, which include corporates from all the commercial and industrial sectors, governments, regulators, trade bodies and not for profit organisations. We provide them with the highest quality advice and legal insight, which combines the firm's global standards with in-depth local expertise.
Clifford Chance was ranked 'Band 1' in more cross-border tables than any other firm in the Chambers Global 2016 Directory. This independent analysis focuses on firms' legal ability, professional conduct, client service, and commercial awareness, and these rankings provide outstanding recognition for the firm's breadth of expertise and consistency of quality across global markets.
Mathieu Ritte
Business Development & Marketing Manager, Middle East
Clifford Chance LLP
Level 15
Burj Daman
Dubai International Financial Centre
PO Box 9380
Dubai, United Arab Emirates
Direct line: +971 4 503 2668
Mobile: +971 56 683 3419
mathieu.ritte@cliffordchance.com
Registered with the DFSA
For further information about Clifford Chance see www.cliffordchance.com
For further information about this release contact Mathieu Ritte, BD & Marketing Manager, Middle East, Clifford Chance, on +971 4 503 2668.
For the latest news and legal updates, follow the Clifford Chance Middle East page on LinkedIn.
© Press Release 2016
