K&A Contributes to the Islamic Finance and Markets Law Review

 

K&A contributed the Islamic Finance chapter for Saudi Arabia in the fifth edition of Islamic Finance and Markets Law Review.

 

Leading Partner Karim Wali commented “K&A’s work in Islamic Finance in Saudi Arabia, within the context of bilateral and syndicated financings, and in the context of project finance and sukuk is unparalleled. We are pleased to have had the opportunity to work with the Islamic Finance and Markets Law Review to contribute this article and elucidate some of these complex issues.”

 

This article is published on the heels of K&A being named KSA Law Firm of the Year by the IFLR.

 


K&A Advises on Accelerated Bookbuild Transaction on Tadawul

K&A has successfully advised NatWest Markets plc (NWM) and Banco Santander S.A. (Santander) in connection with their USD682.58 million disposal of Tadawul-listed shares in the Saudi British Bank (SABB) by way of an accelerated bookbuild, representing 5.6% of SABB issued share capital.

This transaction is the second of two recent and accelerated bookbuilds pursuant to which NWM and Santander have now sold down their entire shareholding in SABB. K&A advised on the first accelerated bookbuild of approximately 1.5% of SABB’s issued share capital owned by NWM and Santander.

Goldman Sachs International (GSI) and Citigroup Global Markets Limited (Citi) acted as joint bookrunners and their Saudi Arabian entities acted as executing brokers.

The K&A team was led by Managing Partner Zeyad Khoshaim, Counsel Amro Bakhaidar, Associates Mohammad AlMania, Associate Ghaida Meaigel and Trainee Associate Yazeed Alsayari.

This transaction comes on the heels of K&A having been named Saudi Arabian Law Firm of the Year by IFLR Middle East Awards, winning Equity Deal of the Year, and Domestic Deal of Year.


K&A Advises on Landmark Vision 2030 Industrial Project

K&A successfully advised Saudi Aramco on its 50/50 joint venture with energy technology firm Baker Hughes to establish an industrial project that will develop a broad range of non-metallic products for multiple applications in the energy sector. The newly formed joint venture will be named Novel.

Novel’s new plant will be constructed at King Salman Energy Park (SPARK) in the Eastern Province of the Kingdom. The JV aligns with Saudi Arabia’s efforts to expand its commercial ecosystem and promote domestic investment, in alignment with Saudi Arabia’s Vision 2030.

The K&A team was led by Managing Partner Zeyad Khoshaim, Corporate Partner Leen Zaza, Projects & Finance Counsel Hamdan van den Brule, and supported by associates Ghadah AlOtaibi, Dana AlDhuwaihi, Omar AlHarbi, and Hawa Aba-AlKhail.

This transaction comes on the heels of K&A having been named Saudi Arabian Law Firm of the Year by IFLR Middle East Awards, winning Equity Deal of the Year, and Domestic Deal of Year.