Bahrain, 23 April 2013 - Baker & McKenzie recently acted for the Saudi Binladin Group in relation to a SAR 1.3 billion (US$347 million) sukuk al-ijara issued by SBG Sukuk Limited as an exempt offering in the Kingdom of Saudi Arabia. The innovative sukuk structure benefits from security over  prime real estate in Jeddah as well as a corporate guarantee from the Saudi Binladin Group.    

The Baker & McKenzie team was led by Partner Bilal Kahlon, who commented:

"We are very pleased to have, once again, assisted the Saudi Binladin Group on their Sukuk issuance. The structure adopted for the issuance was particularly complex and innovative, setting a new standard for the Saudi debt capital market."

Bilal Kahlon was supported by Partner Dr. Nasser Al Faraj and Associate Nezar Al Abbas.

Saudi Fransi Capital Limited, the Saudi affiliate of Crédit Agricole Corporate and Investment Bank, was appointed as lead manager in relation to the transaction and was represented by Clifford Chance and its Saudi associated firm Al-Jadaan and Partners. Walkers acted as legal adviser to SBG Sukuk Limited in relation to the laws of the British Virgin Islands. 

About Baker & McKenzie
Founded in 1949, Baker & McKenzie advises many of the world's most dynamic and successful business organizations through more than 4,000 locally qualified lawyers and over 5,800 professional staff in 71 offices in 44 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 its client service.

Baker & McKenzie's global revenues for the fiscal year ended June 30, 2012, were US$2.313 billion. Eduardo Leite is Chairman of the Firm's Executive Committee. (www.bakermckenzie.com)

Baker & McKenzie Limited - Bahrain is a member of Baker & McKenzie International, a Swiss Verein with member law firms around the world. In accordance with the common terminology used in professional service organizations, reference to a "partner" means a person who is a partner, or equivalent, in such a law firm. Similarly, reference to an "office" means an office of any such law firm.

© Press Release 2013