21 July 2010
The Bahrain office of Baker & McKenzie has acted for the Saudi Binladin Group on a SAR 700 million ($187 million) Sukuk Al-Murabaha issued by SBG Sukuk Limited. The short term Sukuk was privately placed with key Saudi investors.
The Baker & McKenzie team was led by Ian Siddell, Partner and Head of the Gulf Banking & Finance practice, who said: "Having assisted the Saudi Binladin Group on their inaugural sukuk issuance in 2008, we are pleased to have, once again, advised the Saudi Binladin Group on this innovative short term sukuk which represents a first in many respects for the Saudi market. The strong response the issuance received from the Saudi market highlights the strength of the Saudi Binladin Group."
Ian Siddell was assisted by Bahrain based Senior Associate Bilal Kahlon and Associates Mai Abul and Nezar Al Abbas.
Baker & McKenzie has been active in the Saudi Arabia market since the mid-1970s, opening its Bahrain office in 1999 and most recently in Abu Dhabi in early 2009. The Firm's Middle East and North Africa presence also includes a long-standing office in Cairo, Egypt.
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About Baker & McKenzie
Founded in 1949, Baker & McKenzie provides sophisticated advice and legal services to many of the world's most dynamic and successful organizations through more than 3,900 locally qualified lawyers and more than 5,800 professional staff in 67 offices and 39 countries. Baker & McKenzie is known for having a deep understanding of the language and culture of business, an uncompromising commitment to excellence, and world-class fluency in the way we think, work and behave. Baker & McKenzie's global revenues for the fiscal year ended June 30, 2009, were US $2.11 billion. John Conroy is Chairman of the Firm's Executive Committee. (www.bakermckenzie.com)
For further details please contact:
Tim Meredith,
Director of Business Development - Gulf Region
Tel: +971 2 612 3700
Email: tim.meredith@bakermckenzie.com
The Bahrain office of Baker & McKenzie has acted for the Saudi Binladin Group on a SAR 700 million ($187 million) Sukuk Al-Murabaha issued by SBG Sukuk Limited. The short term Sukuk was privately placed with key Saudi investors.
The Baker & McKenzie team was led by Ian Siddell, Partner and Head of the Gulf Banking & Finance practice, who said: "Having assisted the Saudi Binladin Group on their inaugural sukuk issuance in 2008, we are pleased to have, once again, advised the Saudi Binladin Group on this innovative short term sukuk which represents a first in many respects for the Saudi market. The strong response the issuance received from the Saudi market highlights the strength of the Saudi Binladin Group."
Ian Siddell was assisted by Bahrain based Senior Associate Bilal Kahlon and Associates Mai Abul and Nezar Al Abbas.
Baker & McKenzie has been active in the Saudi Arabia market since the mid-1970s, opening its Bahrain office in 1999 and most recently in Abu Dhabi in early 2009. The Firm's Middle East and North Africa presence also includes a long-standing office in Cairo, Egypt.
-Ends -
About Baker & McKenzie
Founded in 1949, Baker & McKenzie provides sophisticated advice and legal services to many of the world's most dynamic and successful organizations through more than 3,900 locally qualified lawyers and more than 5,800 professional staff in 67 offices and 39 countries. Baker & McKenzie is known for having a deep understanding of the language and culture of business, an uncompromising commitment to excellence, and world-class fluency in the way we think, work and behave. Baker & McKenzie's global revenues for the fiscal year ended June 30, 2009, were US $2.11 billion. John Conroy is Chairman of the Firm's Executive Committee. (www.bakermckenzie.com)
For further details please contact:
Tim Meredith,
Director of Business Development - Gulf Region
Tel: +971 2 612 3700
Email: tim.meredith@bakermckenzie.com
© Press Release 2010
