Latham & Watkins advised Banque Saudi Fransi, a leading lender in Saudi Arabia, in connection with its SAR2 billion Tier II sukuk issuance through a private placement in the Kingdom of Saudi Arabia.
This Shari'ah-compliant sukuk will be used by Banque Saudi Fransi for Tier II regulatory capital purposes and will support future growth of the bank.
Partner Harj Rai said: "This successful Tier II sukuk issuance by Banque Saudi Fransi will complement the bank's ability to meet the capital adequacy requirements of the Saudi Arabian Monetary Agency in accordance with the framework and guidance implemented under the Basel III Accord."
The Latham & Watkins team spanned the firm's Riyadh and Dubai offices and was led by partner Harj Rai with associates Lee Irvine and Peter Norris.
Latham & Watkins LLP is a limited liability partnership organised under the laws of the State of Delaware, United States. Latham & Watkins LLP is registered with the Dubai Financial Services Authority and operates in the Dubai International Financial Centre as a recognized limited liability partnership.© Press Release 2014
