08 March 2012
Latham & Watkins advised on two innovative matters in Islamic Finance news’ 2011 Deals of the Year awards, including:
- Structured Finance Deal of the Year – Latham & Watkins advised Salik One SPC Limited, owned by the Department of Finance, Government of Dubai, in connection with a term loan and Islamic financing secured by the revenues from the Salik toll road system. The award-winning transaction utilized a structure that was the first of its kind.
- Mudarabah Deal of the Year – Latham & Watkins advised J.P. Morgan Saudi Arabia Limited and HSBC Saudi Arabia Limited in connection with a SAR 1 billion sukuk due 2021 callable with step-up in 2016. This sukuk was the first debt issuance by Bank AlJazira and the first sukuk issuance by a Shari’ah-compliant bank in Saudi Arabia as well as the first debt capital markets transaction in Saudi Arabia in 2011.