Baker Botts L.L.P. has advised AlJazira Capital and Al Rajhi Capital Company, as Joint Lead Managers, and HSBC Saudi Arabia, as Sukukholders’ Agent, on the issuance by AlJazira Bank of SAR 1.464 billion Additional Tier 1 Capital Sukuk.
The Sukuk was issued under AlJazira Bank’s SAR 5 billion Additional Tier 1 Capital Sukuk Programme and represents a significant bank capital issuance in the Saudi Arabian Islamic debt capital markets.
The Baker Botts team advising on the transaction was led by partners Faris Al Amoudi and Patrick Lyons, with senior associate Amy Rees in London and associate Omar Alsughaiyer in Riyadh.
This transaction follows Patrick and the team’s recent Sukuk issuances across the Middle East, including more than U.S.$ 9 billion of transactions. The team has also received multiple industry awards, reflecting its strong track record in Islamic capital markets. Faris’ recent joining of Baker Botts as Global Head of Islamic Finance, together with Patrick’s experience advising on high-profile Sukuk and related transactions, further strengthens the firm’s Islamic finance offering across MENA and Europe.
Baker Botts continues to advise arrangers, financial institutions and sovereigns on complex Sukuk and Islamic finance transactions across the region’s leading capital markets, further establishing the firm as a key player in the sector.
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