Jan 24 2010 |
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Al-Jadaan and Clifford Chance advise SABIC on SAR10 billion floating rate issue to PIF
The Dubai office of Clifford Chance LLP, in conjunction with Al-Jadaan & Partners Law Firm advised Saudi Basic Industries Corporation ( SABIC ) on the issue of SAR 10,000,000,000 (US$2,670,000,000) floating rate notes to the Public Investment Fund of Saudi Arabia. The transaction is the largest ever floating rate note issuance in the Kingdom of Saudi Arabia.The Clifford Chance team was led by partner Debashis Dey (Head of Capital Markets Middle East) who was supported by associates Alex Roussos and Lee Irvine. The Al-Jadaan & Partners team was led by partner Mohammed Al-Jadaan, who was supported by associates Sherroy Ong and Fahad Abuhimed.
-Ends-
1. The capital markets practice comprises over 422 partners and lawyers who concentrate on securities transactions and other products sold into the capital markets. The practice is founded on a full-service US and UK securities law capability, complemented by local securities law expertise in each of the key financial centres.
Consistently ranked as the 'best legal practice for securitisation' by key commentators, the Clifford Chance International Securitisation Group is at the forefront of the securitisation markets across the world. The Group advises most of the leading market participants and provides an in-depth knowledge of complex issues relating to the securitisation of a broad spectrum of assets.
Our clients include issuers, originators, arrangers, managers, investors and other finance providers, trustees, rating agencies, monoline insurers and swap counterparties from a variety of industries including energy, transport, infrastructure projects, and real estate.
2. Clifford Chance is one of the world's leading law firms, helping clients achieve their goals by combining the highest global standards with local expertise. The Firm has unrivalled scale and depth of legal resources across the four key markets of the Americas, Asia, Europe and the Middle East, and focuses on the core areas of commercial activity: capital markets; corporate and M&A; finance and banking; real estate; tax; pensions and employment; litigation and dispute resolution. Clifford Chance has 29 offices in 20 countries with some 3,600 legal advisers. The Firm has a co-operation agreement with Al-Jadaan & Partners Law Firm in Saudi Arabia, and also operates a 'best friends' arrangement with AZB & Partners in India and with Lakatos, Köves & Partners in Hungary.
3. Clifford Chance was ranked 'tier one' in more international tables than any other firm in the Chambers Global 2009 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.
For further information about Clifford Chance see www.cliffordchance.com
For further information, please contact
Melanie Carruthers
Tel: +971 (0)4 362 0623
Email: melanie.carruthers@cliffordchance.com
Alex Roussos
Tel: +971 (0)4 362 0634
Email: alex.roussos@cliffordchance.com
© Press Release 2010
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