K&A Advises on ACWA Power’s 2.8 Billion Sukuk Issuance

K&A has advised HSBC Saudi Arabia and Samba Capital Investment & Management Company in relation to ACWA Power’s sukuk issuance.

The transaction marks the lowest spread by any corporate or bank issuer in Saudi Arabian capital markets since 2017 where ACWA Power’s raised of SAR 2.8 billion, through a senior, unsecured floating Sukuk rate issuance with a 7-year tenor, under the Shariah compliant Mudaraba-Murabaha structure.

The K&A team was led by Managing Partner Zeyad Khoshaim and assisted by Counsel Amro Bakhaidar, Associate Mohammad Almania, Associate Ghaida Meaigel, Associate Yazeed Alsayyari.

This transaction follows K&A winning Thomson Reuters’s Saudi Arabian Law Firm of the Year, IFLR’s National Law Firm of the Year, and Chambers Corporate Law Firm of the Year.